Madison-based Elephas Biosciences Corp. announced Tuesday the completion of a $55 million Series C funding round. To date, the company has raised $116.5 million. The Series C funding round was led by Madison-based Venture Investors Health Fund and the State of Wisconsin Investment Board.
Elephas is developing an oncology diagnostics platform that can predict response to immunotherapy. The platform uses live fragments from a patient biopsy and treats those fragments with potential therapies and combinations. The latest advances in cancer biology combined with multi-modal imaging are used to assess how patients will respond before beginning treatment.
In 2022, the company completed a $41.5 million Series B funding round.
“We remain intensely focused on our mission to improve care for cancer patients,” said Maneesh Arora, founder and chief executive officer of Elephas. “Supported by world class venture firms we are committed to building a platform that can help guide clinicians and enhance access to life-changing immunotherapies.”
The $55 million in funding will support Elephas’ ongoing observational clinical trials. The trials will help demonstrate that a patient’s clinical response to immunotherapy is correlated to the response data obtained by the Elephas platform, proving the data generated from the platform can be used to predict response, the company said.
Elephas also launched a biopharma services offering in 2023, partnering with biopharma companies to accelerate immunotherapy drug development using the Elephas platform.
