The pharma sector continues to draw investments focused on pursuing the development of promising drug candidates, as well as continuing to fund clinical trials and testing for rare disease treatments. Companies involved in the recent investments include Summit Therapeutics and Applied DNA Sciences, who both recently closed respective private investment financing rounds, along with Elevara Medicines, who announced the closing of its Series A financing round.

Summit Therapeutics

Summit Therapeutics announced its acceptance of multiple offers from leading biotech institutions, as well as from individual investors, to purchase an aggregate of approximately 26.68 million shares of the company’s common stock for $18.74 per share, for a total valuation of upwards of $500 million.¹

Individual private investors contribute an aggregate of $282 million, and included the following:

• Robert W. Duggan, Co-Chief Executive Officer
• Dr. Mahkam Zanganeh, Co-Chief Executive Officer
• Manmeet Soni, Chief Operating Officer, Chief Financial Officer
• Bhaskar Anand, Chief Accounting Officer
• Select non-executive employees
• Akeso Inc.

The remaining $218 million was funded through multiple biopharma institutional investors, along with other unnamed individual investors.¹ Summit plans to allocate the funds to advancing the clinical development of ivonescimab, a potential first-in-class investigational bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule.¹ Summit is also planning on using the investment funds on its working capital needs and general corporate purposes.¹

Elevara Medicines

Elevara Medicines announced the closing of its $70 million Series a financing round, which was co-led by Forbion and Sofinnova Partners, and included participation from its founding investor Monograph Capital.² The Series A financing round is expected to fund Elevara’s upcoming Phase II clinical trial of its lead candidate ELV001, while also supporting exploratory programs in additional chronic inflammatory conditions, along with women’s health. The START-SYNERGY Phase II trial will involve 180 patients with inadequate response to methotrexate and TNF inhibitors, with recruitment planned to begin before the end of 2025.²

“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 II 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,” said Emma Tinsley, CEO of Elevara Medicines.

Applied DNA Sciences

Applied DNA Sciences revealed the closing of its private investment in public equity financing., which was led by institutional DeFi and TradFi investors.³ The successful private investment led to gross proceeds upwards of $27 Million to the Company, before deducting placement agent fees and other offering expenses.³ Applied DNA Sciences also holds the potential to receive an additional $31 million in gross proceeds in the future from warrant exercises. Applied DNA Sciences also received 0.126 units of OBNB trust per prefunded warrant and common warrant, totaling 435,638 trust units, which represent underlying ownership of 10,647 BNB tokens.³ The company also announced its purchase of an additional 4,908 BNB tokens with an estimated total value of $5.3M as of 10:00pm ET on October 20, 2025.³

“In addition to launching our digital asset treasury, we believe we have taken decisive steps to streamline our cost structure and position the Company for long-term sustainability” said Clay Shorrock, CEO of Applied DNA Sciences. “By aligning resources with strategic priorities, we believe we are well positioned to execute with discipline, deliver durable value to shareholders, and advance our differentiated mission.”

Sources

1. Summit Therapeutics Raises $500 Million in Private Placement Summit Therapeutics October 22, 2025 https://www.businesswire.com/news/home/20251022041844/en/Summit-Therapeutics-Raises-%24500-Million-in-Private-Placement
2. Elevara Medicines Raises $70 Million Series A to Advance Phase 2 Rheumatoid Arthritis Trial and Expand Pipeline Elevara Medicines October 22, 2025https://www.globenewswire.com/news-release/2025/10/22/3170818/0/en/Elevara-Medicines-Raises-70-Million-Series-A-to-Advance-Phase-2-Rheumatoid-Arthritis-Trial-and-Expand-Pipeline.html
3. Applied DNA Sciences Closes up to $58 Million Private Placement; Announces Initial BNB Holdings Valued at Over $17 Million Applied DNA Sciences October 22, 2025 https://www.businesswire.com/news/home/20251022240411/en/Applied-DNA-Sciences-Closes-up-to-%2458-Million-Private-Placement-Announces-Initial-BNB-Holdings-Valued-at-Over-%2417-Million