EIT Pharma Closes Oversubscribed $35 Million Series A Round, Led by Propel Bio Partners

Financing supports advancement of late-stage infectious disease pipeline, including Lonafarnib for the treatment of chronic hepatitis D

KIRKLAND, Wash., Aug. 31, 2026 /PRNewswire/ -- EIT Pharma, Inc. ("EIT Pharma" or the "Company"), a biotechnology company focused on developing therapies for infectious diseases, today announced the successful close of an oversubscribed $35 million Series A financing round. The round was led by Propel Bio Partners, with participation from Good Ventures, Arrowtown, and others.

The financing follows the U.S. Food and Drug Administration's (FDA) acceptance of the New Drug Application (NDA) for lonafarnib for the treatment of chronic hepatitis D (CHD), a serious life-threatening liver disease caused by hepatitis D virus (HDV) in individuals who already have hepatitis B virus infection. Lonafarnib is an investigational first-in-class oral CHD therapy candidate with a unique mechanism of action. If approved, lonafarnib's oral administration and room-temperature storage may offer practical advantages for people impacted by CHD and healthcare providers who consider quality of life, treatment burden, and accessibility when evaluating treatment options.

Proceeds from the funding will support continued FDA review activities related to lonafarnib, and future manufacturing and commercial readiness steps for lonafarnib, subject to regulatory approval. The funding will also assist with the advancement of EIT Pharma's infectious disease pipeline and general corporate operations.

"This oversubscription of this round is a validation of EIT Pharma's founding belief that advancing important medicines is about recognizing unrealized potential and assembling the scientific, clinical, regulatory, and commercial expertise to turn that potential into a treatment for patients," said Dr. Leen Kawas, PhD, Chief Executive Officer of EIT Pharma. "This new capital allows us to continue advancing lonafarnib through the review process and, subject to FDA approval, prepare to bring it to patients."

"EIT Pharma pairs a differentiated, late-stage asset with a team experienced in moving complex programs through development and regulatory review," said Richard Kayne, General Partner of Propel Bio Partners. "We see meaningful value potential across EIT Pharma's infectious disease pipeline, and we're backing a management team with the scientific, clinical, and commercial discipline to realize it. We're proud to support EIT Pharma at this pivotal stage as it works to bring important new therapies to underserved patient communities."

About Lonafarnib

Lonafarnib is an investigational oral therapy candidate being evaluated for the treatment of chronic hepatitis D. Lonafarnib is designed to target a key step in the hepatitis D virus lifecycle and is currently the only oral therapeutic candidate in late-stage clinical development for chronic hepatitis D. Lonafarnib has not been approved by the U.S. Food and Drug Administration or any other regulatory authority for the treatment of chronic hepatitis D. The safety and efficacy of lonafarnib have not been established.

About EIT Pharma, Inc.

EIT Pharma is a biotechnology company focused on advancing therapies for infectious diseases with significant unmet medical needs. The company is developing a portfolio of programs designed to address serious infectious diseases through rigorous science, disciplined execution, and a patient-centered approach focused on translating scientific innovation into meaningful real-world impact for patients.

Forward-Looking Statements

This press release contains forward-looking statements regarding regulatory review timelines, anticipated milestones, potential product characteristics, and future development plans. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Lonafarnib is an investigational product candidate and has not been approved by the FDA. There can be no assurance that the FDA will approve the NDA or that the product will become commercially available. EIT undertakes no obligation to update forward-looking statements except as required by law.

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SOURCE EIT Pharma