Solve Therapeutics raises $120m as MSD joins list of backers

Solve Therapeutics has secured $120m for its pipeline of antibody-drug conjugates (ADCs), becoming the latest pharma institution to cement its spot with the crab combatting modality.

A US-based oncology-focused task fund, Yosemite led the circular that had information from different investors, including large pharma institution MSD.

Solve said the caller tranche, which brings the biotech’s full backing to $321m, volition beryllium utilized to implicit Phase I studies for its 2 pb programmes SLV-154 and SLV-324, on with expanding operational capabilities successful mentation for later-stage trials.

Both ADCs, SLV-154 and SLV-324 usage Solve’s CloakLink technology, which the institution says helps to flooded limitations related to payload hydrophobicity and plasma stability.

ADCs are a benignant of targeted crab therapy that combines a monoclonal antibody (mAb), a linker, and a potent cytotoxic drug. This attack is much circumstantial than accepted chemotherapy, starring to amended efficacy and less broadside effects.

Solve CEO and laminitis Dave Johnson said: “Since founding the company, we’ve built a differentiated level that combines next-generation ADC engineering, a superior hydrophilic linker system, and caller patient-selection diagnostics. This concern syndicate represents a beardown endorsement of our science, our team, and our ngo to make much effectual and safer targeted therapies for patients with coagulated tumours.”

Johnson has recognition successful the slope erstwhile it comes to gathering palmy biotechs. He was besides the co-founder of cancer-focused biopharma VelosBio, which was acquired by MSD for $2.75bn successful 2020.

With Solve, Johnson is targeting an ADC assemblage that has boomed successful committedness implicit caller years. This has been reflected by the galore billion-dollar deals tied up by pharma companies looking to enactment up their pipelines with the emerging modality. One of the biggest was Pfizer’s acquisition of Seagen for $43bn in December 2023.

Roche has already signed 3 ADC deals this year, with the latest dating backmost to March via an statement with Oxford BioTherapeutics that could surpass $1bn.

With an oculus already connected Solve’s offerings, MSD has been progressive elsewhere successful the abstraction too, securing a broad-cancer ADC plus for $700m successful aboriginal November.

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