Shattuck Labs, Inc. announced the closing of a private placement of up to $103 million.
The financing is led by OrbiMed and is expected to fund operations into 2029.
Proceeds will advance SL-325 through multiple Phase 2 clinical trials, including in Inflammatory Bowel Disease.
Private Placement Funds Operations
Proceeds from the private placement, assuming full exercise of warrants, will fund operations until 2029.
Board Appointments
Industry expert Dan Baker, M.D., and OrbiMed representative Mona Ashiya, Ph.D., have been appointed to the Board of Directors.
SL-325 Development
SL-325 is a potentially first-in-class DR3 blocking antibody with promising efficacy and reduced immunogenicity.
- The private placement will provide long-term funding for Shattuck Labs' operations.
- The addition of industry experts to the Board of Directors signifies strategic growth and focus on immunology and inflammation.
- SL-325 entering Phase 1 trial marks a significant milestone with multiple data readouts anticipated.
The recent funding and board appointments position Shattuck Labs for continued advancement in developing novel therapeutics for inflammatory and immune-mediated diseases.