Star Therapeutics announced a $200 million private financing co-led by OrbiMed and Janus Henderson Investors to support its drug-development pipeline.
Star plans to use the proceeds to advance current preclinical programs into clinical trials and add programs to its pipeline. The financing follows Incyte’s completed July 2026 acquisition of Star’s wholly owned subsidiary Vega Therapeutics for up to $2 billion, including latarcibart, in Phase 3 development for von Willebrand disease. Separately, Star spinout Electra Therapeutics (Nasdaq: ETRA) became publicly traded in September 2026. Janus Henderson’s Vish Sridharan is joining Star as a board observer.
Electra Therapeutics (ETRA) priced an upsized initial public offering of 23,333,334 shares of common stock at $15.00 per share on September 17, 2026. Gross proceeds are expected to be approximately $350.0 million before underwriting discounts, commissions and expenses, with all shares offered by the company. Underwriters have a 30-day option to purchase up to an additional 3,500,000 shares at the public offering price, less discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global Select Market on September 18, 2026, under the ticker symbol “ETRA,” with closing anticipated on September 21, 2026, subject to customary conditions. Jefferies, TD Cowen, Evercore ISI and Cantor are joint book-running managers, and the SEC registration statements became effective on September 17, 2026.