Electra Therapeutics raises $350M in IPO to fund pivotal immune-disease antibody development
Electra Therapeutics announced an initial public offering that raised $350 million, exceeding its earlier target.
The IPO consisted of 23.3 million shares sold at $15 per share, and underwriters were given a 30‑day option to purchase up to an additional 3.5 million shares.
Proceeds will support the company’s lead monoclonal antibody, ipsoprubart, which is being evaluated in an open‑label Phase 2/3 pivotal trial for secondary hemophagocytic lymphohistiocytosis, a life‑threatening hyperinflammatory syndrome.
Phase 1b data showed a 100% objective tumor response rate, highlighting the drug’s potential.
This writeup was produced by pharmadog from original reporting by BioSpace.
Original headline: “Electra lights up with $350M IPO for pivotal immune-disease drug development”
read at BioSpace ↗
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