Sept. 6, 2022 — A private firm named Elephas Biosciences Corporation (Elephas) revealed that it has raised USD 41.5 million in Series B funding. The investment was led by ARCH Venture Partners, who were joined by Moore Strategic Ventures and Tao Capital Partners, two new investors. Northpond Ventures, Sands Capital, and WARF Ventures continued to invest USD 20 million from the Series A and USD 8 million from the founder and early seed investors make up the prior financing.
Elephas is creating a platform for oncology diagnostics to forecast immunotherapy responses. The platform uses living fragments from a patient biopsy and may combine and administer several therapies to those pieces. Before starting treatment, patients’ responses are evaluated using multimodal imaging and the most recent developments in cancer biology.
In the upcoming quarter, Elephas will begin two human clinical trials on the platform to share initial clinical findings in 2023. The platform will also be made available to biopharma researchers the following year, according to the business. While immunotherapies have emerged in the past ten years as potent and effective instruments in the battle against cancer, oncology medications remain the largest pharmaceutical therapeutic segment.
Maneesh Arora, founder and CEO of Elephas, stated that the company aims to enhance cancer patients’ care. “We appreciate the support of these renowned venture firms, who are dedicated to assisting us in achieving our goals and believe in what we are doing.”
According to Paul Berns of ARCH Venture Partners, “technology that will enable patients to receive the most effective therapy quickly, before time and resources are squandered on ineffective options, will change the game for people afflicted with cancer. We are thrilled to work with the company to provide patients this cutting-edge alternative.”
The company received financial advice from XMS Capital Partners.
Paul Berns from ARCH Venture Partners will join the Elephas board of directors, and Keith Crandell from ARCH will join as a board observer. This comes after the business hired Steven Galson, the former head of the FDA’s Center for Drug Evaluation and Research, as an independent director.
The demand for better diagnostics, cutting-edge pharmaceutical therapy, and the trend to patient-centric solutions are speeding up disruption in healthcare.
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 revealed that it has raised USD 41.5 million in Series B funding. The investment was led by ARCH Venture Partners, who were joined by Moore Strategic Ventures and Tao Capital Partners, two new investors. Northpond Ventures, Sands Capital, and WARF Ventures continued to invest USD 20 million from the Series A and USD 8 million from the founder and early seed investors make up the prior financing.){kind=link}