Madison-based Elephas Biosciences Corp. announced Monday the completion of a $41.5 million Series B funding round. The round was led by Chicago-based ARCH Venture Partners with continued investment by Madison-based WARF Ventures. Elephas’ past investments include $20 million from the company’s Series A round and $8 million from founder and early seed investors.

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.

“Our mission at Elephas is to improve care for cancer patients,” said Maneesh Arora, founder and CEO of Elephas. “We are grateful for the support of these world-class venture firms who believe in what we are doing and are committed to helping us get there.”

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