EIT Pharma raises $35M Series A to push hepatitis D drug toward approval
What's the deal? EIT Pharma has closed an oversubscribed $35 million Series A round led by Propel Bio PartnersDealroom has a profile for this one. Try Dealroom →, with participation from Good VenturesDealroom has a profile for this one. Try Dealroom → and Arrowtown. The Kirkland, Washington biotech develops therapies for infectious diseases with significant unmet medical needs.
Why now? The financing follows the FDA's acceptance of EIT Pharma's New Drug Application for lonafarnib, its lead candidate for chronic hepatitis D. That milestone gives the raise clear timing: capital to carry the drug through review and toward commercial readiness.
What's the endgame? Lonafarnib is an investigational oral therapy targeting a key step in the hepatitis D virus lifecycle. It is the only oral candidate in late-stage clinical development for the disease, a life-threatening liver condition affecting people already infected with hepatitis B.
Proceeds will fund continued FDA review, future manufacturing and commercial preparation subject to approval, plus broader pipeline work and operations.
What could go wrong? Lonafarnib has not been approved by any regulator, and its safety and efficacy are not yet established. The plan hinges on an FDA decision the company does not control.
"This new capital allows us to continue advancing lonafarnib through the review process and, subject to FDA approval, prepare to bring it to patients," said chief executive officer Dr. Leen Kawas.
Richard Kayne, general partner at Propel Bio Partners, said EIT Pharma "pairs a differentiated, late-stage asset with a team experienced in moving complex programs through development and regulatory review."
The signal: At $35 million, this Series A lands in the upper tier of rounds at its stage — a sign investors are willing to write larger cheques for late-stage assets with a near-term regulatory catalyst rather than early-stage science.
Image credit: EIT Pharma
