• Co-led by Forbion and Sofinnova Partners, along with founding investor Monograph Capital, and Weatherden
• Innovative lead program, ELV001, in-licensed by Elevara from Japan’s Teijin Pharma with good tolerability and safety, plus early signs of efficacy in Phase 1b
• Disrupting the treatment paradigm for patients with incomplete response to Standard of Care (Methotrexate + Tumor Necrosis Factor inhibitors (TNFi))

Elevara Medicines (“Elevara”), a clinical-stage biotech developing therapies for rheumatoid arthritis (RA) and chronic inflammatory diseases, announced the close of a $70 million Series A financing. The round was co-led by Forbion and Sofinnova Partners, with participation from founding investor, Monograph Capital.

The Series A proceeds will fund Elevara’s upcoming Phase 2 clinical trial of its lead candidate ELV001 and support exploratory programs in additional chronic inflammatory conditions and women’s health. The START-SYNERGY Phase 2 trial will enroll approximately 180 patients with inadequate response to methotrexate and TNF inhibitors, with recruitment expected to begin before the end of 2025.  

Emma Tinsley, CEO of Elevara Medicines, added, “We have created Elevara together with Monograph Capital because we believe ELV001 could have a fundamental impact on RA patients who fail to achieve disease remission through immune targeted approaches. This $70 million financing provides us with the resources to rapidly advance ELV001 through Phase 2 and to expand into other chronic inflammatory indications. We are grateful for the support of our investors and are excited to take this molecule forward with Teijin Pharma.”

Rheumatoid Arthritis has historically been treated purely as an immune disease; while effective therapies have been developed, they typically hit an efficacy ceiling. Elevara is approaching RA by targeting synovial fibroblasts which contribute to local inflammation, pain, swelling, and stiffness in the joint. 

ELV001, a first-in-class oral CDK4/6 inhibitor, selectively targets fibroblast-like synoviocytes (FLS), a key driver of RA pathology, without affecting the immune system. Elevara aims to significantly disrupt early line RA treatment by seeking clinical remission in combination with standard of care. ELV001 Phase 1 data demonstrated favorable safety and tolerability, along with encouraging early efficacy signals. The data also supports the potential of ELV001 to act in combination with existing immune agents to achieve full remission.

Professor Dominique Baeten, MD, PhD, Elevara’s CMO, added: “The current standard of care isn’t achieving low disease activity and remission in a large proportion of patients with RA. Teijin has built an exceptional data package of preclinical and clinical work with the highest level of scientific rigor and discipline. By targeting the synovial fibroblast rather than immune cells, ELV001 is uniquely positioned to work with approved immunomodulators for RA in early line therapy.” 

Elevara was founded by Weatherden with operational support and funding from Monograph Capital. Elevara gained exclusive global rights to develop, commercialize and manufacture ELV001 from Teijin Pharma, part of the Teijin Group (TSE: 3401), which has dedicated over a decade of scientific work to the program to date. 

The Elevara board will be composed of Emma Tinsley (CEO of Elevara), Tim Funnell (Monograph Capital), Vanessa Carle (Forbion), Maina Bhaman (Sofinnova Partners), and Gijs van den Brink (Independent Director).

Vanessa Carle, Principal at Forbion noted, “Together with Sofinnova Partners and Monograph Capital, we look forward to working closely with the Elevara team to advance this highly differentiated asset through Phase 2 in RA and unlock its full potential for patients with chronic inflammatory diseases.”

Maina Bhaman, Partner at Sofinnova Partners, commented, “The Elevara team has moved with remarkable speed to secure ELV001 and prepare it for later stage clinical trials. We are delighted to be part of a strong investment syndicate backing this novel approach to RA treatment.”