Funding supports Phase 2 trial of fibroblast-targeting therapy in rheumatoid arthritis trial and expansion into other indications.
British biotech Elevara Medicines has emerged, raising $70 million in a Series A financing round to advance development of its lead program into a Phase 2 trial for rheumatoid arthritis (RA) and to expand its pipeline into other chronic inflammatory conditions and women’s health. The company’s strategy centers on leveraging its novel fibroblast-targeting approach to achieve synergistic effects with immune-based drugs.
Rheumatoid arthritis affects more than 20 million people worldwide and disproportionately impacts women. The condition leads to painful joint inflammation and can accelerate aging processes, with research suggesting that patients with RA may exhibit faster biological aging than their peers. Despite the availability of advanced therapies, many patients continue to experience only partial symptom control.
While RA treatment strategies typically focus primarily on modulating immune activity, Elevara is addressing the condition as both an immune and tissue-driven disease by targeting synovial fibroblasts – cells that are key contributors to joint inflammation, swelling and pain.
The company’s lead candidate, ELV001, is an oral CDK4/6 inhibitor that selectively targets fibroblast-like synoviocytes implicated in RA pathogenesis while sparing the immune system. The approach is designed to complement existing therapies rather than replace them, offering the potential for deeper disease control without additional immune suppression.
ELV001 was originally developed by Japan’s Teijin Pharma, which took the compound through to Phase 1 human trials. Elevara was founded by biotech consultancy Weatherden and Monograph Capital to build on Teijin’s work, and holds exclusive global rights to develop, commercialize and manufacture the molecule.
“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,” said Elevara CEO Emma Tinsley, who also heads up Weatherden. “This $70 million financing provides us with the resources to rapidly advance ELV001 through Phase 2 and to expand into other chronic inflammatory indications.”
Early human trials have shown ELV001 to be well tolerated with a favorable safety profile and early signs of efficacy. Elevara claims the molecule’s non-immunosuppressive nature supports its use in combination with approved immune-targeted treatments, potentially allowing patients to achieve remission without cycling through multiple therapeutic mechanisms. The company is positioning ELV001 as an add-on oral therapy for patients with an incomplete response to TNF inhibitors, aiming to disrupt the current treatment paradigm of “ditching and switching” between biologic drugs.
“The current standard of care isn’t achieving low disease activity and remission in a large proportion of patients with RA,” said Elevara’s Chief Medical Officer Professor Dominique Baeten. “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.”
The Series A funding round was co-led by Forbion and Sofinnova Partners, with participation from founding investor Monograph Capital and the UK-based clinical advisory group Weatherden, which co-founded Elevara. The company said the proceeds will support the initiation of a Phase 2 study of ELV001, which is expected to begin enrolling around 180 patients before the end of 2025, targeting individuals who have not achieved adequate response to the current standard of care.
