Elephas Biosciences Corporation (Elephas), a private company, announced today that it has raised $55 million in Series C funding. Venture Investors Health Fund and State of Wisconsin Investment Board (SWIB) led the round. Continuing investments were made by Northpond Ventures, ARCH Ventures, Sands Capital, Moore Strategic Ventures, Tao Invest, and WARF Ventures. With this $55 million Series C funding, this brings the total raised by Elephas to $116.5 million.
Elephas is developing an oncology imaging diagnostics platform to predict response to immunotherapy using the latest advances in metabolic imaging. The platform utilizes live patient biopsies with intact native tumor architecture and treats them with potential therapies to predict response to treatment. The basis of the platform is to visualize immune cell activity including T cell activation and cytotoxic mediated killing. Read more about the latest scientific data presented by Elephas at the Society for Immunotherapy of Cancer (SITC) meeting in November 2023 here.
Elephas is conducting observational clinical trials to demonstrate that a patient’s clinical response to immunotherapy is correlated to the response data obtained by the Elephas platform, adding confidence the data generated from the platform can be used to predict response. The company also launched their biopharma services offering in 2023, partnering with biopharma companies to accelerate immunotherapy drug development using the Elephas platform.