Sling Therapeutics raises $123M to fund Phase 3 trial of former Astellas cancer drug for thyroid eye disease

Investors have committed $123 million to Sling Therapeutics, a small Michigan biotech focused on eye‑disease treatments.

The funding will support a Phase 3 clinical trial of a drug originally developed by Astellas for cancer, now being repurposed for thyroid eye disease.

Thyroid eye disease has attracted considerable venture‑capital and pharmaceutical interest, and the new capital reflects confidence in Sling's development strategy.