The Kirkland biotechnology company plans to use the financing to support FDA review of lonafarnib, prepare for potential manufacturing and commercialization, and advance its infectious disease pipeline.
EIT Pharma has raised $35 million in a Series A financing led by Propel Bio Partners, as the biotechnology company advances its lead chronic hepatitis D treatment candidate through US regulatory review.
Good Ventures, Arrowtown and other investors participated in the round, EIT Pharma announced on August 31, 2026. The company did not disclose its valuation or the specific security structure of the financing.
EIT Pharma said it plans to use the proceeds to support ongoing activities associated with the U.S. Food and Drug Administration’s review of lonafarnib, prepare manufacturing and commercial operations subject to regulatory approval, advance other infectious disease programs and fund general corporate operations.
The financing comes shortly after the FDA accepted EIT Pharma’s New Drug Application for lonafarnib for chronic hepatitis D on August 11.
Lonafarnib remains an investigational treatment and has not been approved by the FDA for chronic hepatitis D. EIT Pharma describes the drug as an oral farnesyltransferase inhibitor designed to interfere with a prenylation-dependent step involved in the formation of new hepatitis D virus particles.
The company’s NDA is supported by its Phase 3 D-LIVR program as well as earlier clinical, nonclinical and manufacturing data. EIT Pharma said the Phase 3 trial enrolled more than 400 participants across 21 countries.
The US treatment landscape for hepatitis D changed earlier this year. On May 22, 2026, the FDA approved Gilead Sciences’ Hepcludex, or bulevirtide-gmod, an injectable therapy for adults with chronic hepatitis D without cirrhosis or with compensated cirrhosis. It became the first FDA-approved treatment for chronic hepatitis D. Lonafarnib could therefore represent an oral treatment option if it ultimately receives regulatory approval.
EIT Pharma is based in Kirkland, Washington, and is led by CEO Leen Kawas. Kawas is also a co-founder and managing general partner of Propel Bio Partners, the venture firm that led the Series A.
Jeffrey Glenn, a Stanford University professor of medicine and microbiology and immunology, is identified by EIT Pharma as a co-founder and director of the company.
EIT Pharma’s current development portfolio also includes peginterferon lambda-1a. The company obtained the lonafarnib and lambda programs following the bankruptcy of Eiger BioPharmaceuticals, with court records identifying EIT Pharma as the renamed successor to Eiger InnoTherapeutics, the purchaser of the assets.
