The Zhitong Finance App learned that Electra Therapeutics, a phase II/III biotech company focused on developing targeted SIRP antibodies for the treatment of immune diseases and cancer, announced the terms of its initial public offering (IPO) on Monday. The company plans to issue 21.7 million shares at a price of $14-16 each to raise $325 million. The company plans to list on NASDAQ under the ticker symbol “ETRA.”
Electra Therapeutics is developing a class of precision drugs that target signal regulatory proteins (SIRP) expressed on specific immune cell populations. Its core drug candidate, ipsoprubart, is a pan-SIRP monoclonal antibody designed to selectively eliminate pathological myeloid cells and T cells.
Currently, the drug is undergoing a registered phase II/III SURPASS test for secondary hemophagocytic lymphohistiocytosis (ShLH); phase I b data showed that in 12 patients with first-line malignant tumor-related HLH, the overall survival rate reached 100% for 8 weeks, and the overall remission rate reached 100%. ipsoprubart is also being used in a phase I trial to treat relapsed/refractory T cell and NK cell malignancies. The company's second drug candidate, ELa822, is a specific antibody targeting SIRPγ to treat chronic T-cell-mediated immune diseases, and phase I trials were initiated in Europe in August 2026.
Electra Therapeutics wants to use Dongfeng's strong IPO performance in the biotech sector this year to raise funds for its clinical-stage immune-mediated disease and cancer drug pipeline. According to compiled data, the cumulative amount of capital raised by US biotech and pharmaceutical companies in IPOs this year has reached 6.8 billion US dollars, with an average weighted return of nearly 70%. Analysts Sam Fazeli and Cindy Wu said, “Biotech IPOs are a barometer for measuring the health of the industry. The average funding scale of US biotech IPOs in 2026 reached US$329 million, the highest level since 2018, far exceeding the bright years in recent years. It indicates a strong market at the end of the year, and the number of listings is expected to reach 30 companies throughout the year.”