Slate Medicines Raises $130M Series A for PACAP Migraine Therapy
Slate Medicines, a biotechnology company developing therapeutics targeting PACAP for migraine prevention, has raised $130 million in Series A funding co-led by RA Capital, Forbion, and Foresite Capital. The lead asset, SLTE-1009, is a subcutaneous anti-PACAP monoclonal antibody licensed from DartsBio Pharmaceuticals. The capital will fund advancement of SLTE-1009 into Phase 1 clinical trials by mid-2026.
PACAP Challenges CGRP Migraine Hold
Slate launches as developers seek mechanisms beyond CGRP inhibitors dominating preventive migraine treatments. PACAP offers an orthogonal pathway, potentially addressing patients unresponsive to CGRP class drugs like Aimovig. This Series A underscores investor interest in diversifying migraine options.
Preventive Therapies Fall Short
Current migraine preventives leave substantial patient populations with inadequate responses. CGRP monoclonal antibodies capture the market but fail to help all sufferers. PACAP-targeted therapies aim to fill this therapeutic gap.
Engineered Half-Life Enables SubQ Dosing
SLTE-1009 features half-life extension technology for convenient subcutaneous administration. Licensed from China-based DartsBio, the antibody blocks PACAP distinct from CGRP pathways. This design improves patient compliance over intravenous alternatives.
Orthogonal Mechanism Targets Non-Responders
PACAP blockade provides a novel approach for headache disorders where CGRP therapies underperform. Early data validate PACAP as a clinically relevant target. Slate's focus positions it to capture unmet demand in migraine prevention.
Launch-Stage Backing Signals Conviction
RA Capital, Forbion, and Foresite Capital co-led the oversize Series A for a newly launched biotech. These firms bring deep healthcare portfolios, validating PACAP's potential at clinical entry. The round equips Slate for Phase 1 execution without immediate dilution.
Migraine Space Draws Big Bets
Headache disorder therapeutics attract substantial venture capital amid persistent unmet needs. Slate's $130M launch round rivals late-stage raises in adjacent neuro spaces. Investors prioritize mechanisms expanding beyond CGRP saturation.
Biotech Veterans Drive Pipeline
CEO Gregory Oakes previously led Landos Biopharma, acquired by AbbVie. CMO Roger Cady brings decades of headache expertise from Lundbeck and Alder Biopharmaceuticals. This team's track record accelerates SLTE-1009 development.
Phase 1 Milestone Looms Mid-2026
Slate plans Phase 1 initiation for SLTE-1009 in mid-2026. Undisclosed pipeline programs follow the lead asset. Funding supports team buildout and trial readiness.