Business

Elicera Therapeutics raises SEK 72.8m in rights issue for clinical trials

Edited by Robert McTiernan··2 min read

Sweden-based Elicera Therapeutics AB (Nasdaq First North Growth Market: ELIC) announced a rights issue of approximately SEK 72.8 million (USD 7.95 million). The monies are being raised to fund the completion of its ongoing CARMA clinical study of ELC-301 and to advance preparations for a planned Phase I/Ib trial of ELC-401 in glioblastoma. The board determined that available funds were insufficient to cover the upcoming 12-month operating period, making the raise a necessity rather than an opportunistic capital event. The issue is subject to approval by an extraordinary general meeting scheduled for 8 May 2026.

The rights issue comprises a maximum of 24,267,772 new shares priced at SEK 3.0 per share, representing a discount of approximately 31.4% to the theoretical ex-rights price based on the closing share price on 20 April 2026.

Company overview and pipeline

Elicera Therapeutics AB is a clinical-stage cell therapy company headquartered in Gothenburg, Sweden. Its lead clinical program, ELC-301, is being evaluated in the CARMA study, a Phase I/IIa trial assessing safety, optimal dosing, and preliminary efficacy in patients with relapsed or refractory B-cell lymphoma. The trial includes a dose-escalation phase across three cohorts to identify the maximum tolerated dose, followed by an expansion phase. As of the announcement date, eight patients had been evaluated for efficacy, of whom six were deemed disease-free one month after treatment. Recruitment is ongoing, and the company estimates that all 18 patients in the CARMA study will have been treated by the second half of 2027 at the latest. Approximately 40% of net proceeds are allocated to completing recruitment and treatment of all patients in the study.

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The second pipeline asset, ELC-401, is a CAR T-cell candidate targeting glioblastoma. As of 27 February 2026, preclinical development had been concluded. A scientific advice meeting with the Swedish Medical Products Agency is scheduled for mid-June 2026 to discuss the proposed study design for a planned Phase I/Ib dose-escalation and expansion trial. Manufacturing process development and a subsequent technology transfer to a selected contract manufacturer are also required before clinical initiation, which the company estimates could occur at the earliest in 2027, contingent on regulatory alignment and funding. Approximately 30 percent of net proceeds are directed toward ELC-401 trial preparations. The company is pursuing non-dilutive grant funding from multiple sources to support ELC-401 costs, with application responses expected throughout 2026.

The remaining approximately 30% of net proceeds is allocated to general corporate purposes. The secured amount is expected to finance operations through the end of 2028. In early 2024, Elicera entered a material transfer agreement with an undisclosed US cancer center to evaluate its iTANK platform technology in T-cell receptor therapies for indications including ovarian and lung cancer, representing the company's most recent external business development activity.

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