Slate Medicines Launches With $130M Series A

Slate Medicines, Inc. has emerged from stealth with $130 million in Series A financing and the in-licensing of a promising migraine therapy, positioning the company to compete in the fast-growing market for next-generation headache treatments.

The privately held biotech announced that the financing coincides with its acquisition of global rights to SLTE-1009, an anti-PACAP monoclonal antibody licensed from DartsBio Pharmaceuticals (Guangdong), Ltd.. The therapy, also known as DS009, targets pituitary adenylate cyclase-activating polypeptide (PACAP), a biologically validated pathway distinct from CGRP, which has been the focus of several recently approved migraine drugs.

Slate Medicines is led by Chief Executive Officer Gregory Oakes, a veteran biopharma executive with more than three decades of experience. Oakes previously served as President and CEO of Landos Biopharma prior to its acquisition by AbbVie, and has held senior roles at Celgene, Novartis and Vifor Pharma. Most recently, he was a Venture Partner at Raven, the healthcare incubator of RA Capital.

He is joined by Chief Operating Officer and President Neil Buckley, also formerly a Venture Partner at Raven, and Chief Medical Officer Dr. Roger Cady, a recognized headache specialist who previously held leadership roles at Alder Biopharmaceuticals and Lundbeck.

SLTE-1009 has been engineered with half-life extension technology, enabling subcutaneous administration and potentially convenient at-home dosing. By targeting PACAP, the drug aims to provide an alternative for patients who do not respond adequately to current CGRP-based preventive therapies. PACAP blockade has gained increasing scientific validation as a complementary mechanism in migraine biology, raising expectations that it could address unmet needs among millions of patients.

Company leadership emphasized that the therapy’s differentiated mechanism and dosing profile could expand treatment options. In addition to SLTE-1009, Slate Medicines is advancing an undisclosed pipeline of biologics for headache disorders.

As part of the Series A financing, Andrew Levin of RA Capital, Tim Lohoff of Forbion, and Cindy Xiong of Foresite Capital will join the company’s board of directors. Slate Medicines was co-founded by Buckley and RA Capital’s Sera Medicines accelerator.

With strong investor backing and a focused strategy, Slate Medicines aims to carve out a role in reshaping migraine prevention through novel biology and patient-friendly delivery options.