Electra Therapeutics raised $350 million in an upsized IPO to advance its lead program for secondary hemophagocytic lymphohistiocytosis (sHLH). The financing is aimed at continuing development of a precision immunology approach for a hyperinflammatory condition where disease heterogeneity and timing of intervention often drive outcomes. The upsized size signals strong demand for late-stage risk capital in immune disorders, particularly where targeted mechanisms could support clearer patient selection. Electra’s use of IPO proceeds also suggests the company intends to maintain development momentum through the next clinical milestones. For the sector, the deal adds another large check to a portfolio of precision immunology companies seeking to compete for both clinical differentiation and eventual platform valuation.