Electra Therapeutics seeks a $342 million Nasdaq listing to fuel Phase III trials for its lead hyperinflammatory syndrome treatment, ipsoprubart, following strong clinical results.
Electra Therapeutics is launching an IPO to fund Phase III trials for ipsoprubart, a promising hyperinflammmatory syndrome drug with positive clinical results.
Electra Therapeutics plans to raise up to $341.9 million in a Nasdaq IPO to fund Phase III trials for its lead candidate, ipsoprubart. The biotech aims to use $220 million of the proceeds to accelerate development of the drug for secondary haemophagocytic lymphohistiocytosis, a severe hyperinflammatory syndrome.
The company plans to allocate $220 million to advance its lead asset, ipsoprubart, through Phase II/III trials for secondary haemophagocytic lymphohistiocytosis (sHLH).
Ipsoprubart is a pan-SIRP monoclonal antibody designed to selectively deplete pathological myeloid and T cells, offering a more targeted approach than broad immunosuppression.