Electra Therapeutics has priced a scaled-up IPO that raised $350 million, with proceeds earmarked for what it describes as a potential first-in-class precision immunology drug aimed at a rare hyperinflammatory disorder lacking FDA-approved treatments. The company’s strategy targets immune pathways rather than standard-of-care escalation. In parallel, clinical-stage biotechs Marea Therapeutics and Sensorion outlined plans to enter the U.S. public markets. Together, the announcements highlight renewed appetite for early clinical data and platform differentiation as investors search for durable differentiators in immunology.