Slate Medicines secures $245M financing and Nasdaq listing via reverse merger with Fulcrum Therapeutics
Slate Medicines, a North Carolina biotech, is moving toward a Nasdaq listing through a reverse merger with Fulcrum Therapeutics, six months after emerging from stealth.
The transaction includes a $245 million private placement led by Frazier Life Sciences, supplementing the $130 million Series A funding Slate raised earlier this year.
Slate’s lead program, SLTE-1009, is a monoclonal antibody that targets both PACAP and VIP, a dual mechanism the company says could improve efficacy over agents that block only PACAP.
The approach follows mixed results from other anti‑PACAP antibodies, including a failed trial by Eli Lilly, and comes as existing migraine therapies target CGRP.
Investors such as Forbion, RA Capital Management and Foresite Capital, who participated in the Series A, remain backing the company, indicating confidence despite competitive challenges.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “Slate uses Fulcrum to vault onto Nasdaq with $245M financing for migraine trials”
read at Fierce Biotech ↗
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