Elephas Biosciences Corporation raised $40 million in a Series B-2 fundraising round, the company announced today.

According to a release, the round included participation from existing investors including Northpond Ventures, ARCH Venture Partners, the State of Wisconsin Investment Board, Tao Capital Partners, Sands Capital and Venture Investors Health Fund, among others.

“This financing milestone underscores the strong investor confidence in the promise of Elephas and our shared mission to improve the lives of those affected by cancer,” Elephas Founder and CEO Maneesh Arora said in a statement. “We have made incredible progress this year and have strong momentum heading into 2026. This funding achievement will drive our next stage of growth and advance our commercialization strategy.”

The money will be used to support the launch and commercialization of the Elephas Live Platform, which is designed to functionally profile ex vivo live tumor biopsies, as a laboratory-developed test (LDT) in 2026.