Mestag Therapeutics, a biotech company focused on fibroblast immunology, has announced the closing of a $40 million financing round, bringing its total funding to more than $95 million. The round was backed by SV Health Investors, Johnson & Johnson Innovation – JJDC, Inc., Forbion, GV (Google Ventures), and Northpond Ventures.
The proceeds will support the Phase 1 STARLYS clinical trial of MST-0312, which is expected to begin in mid-2026 in cancer patients. The funding will also advance the company’s broader platform and pipeline targeting inflammatory diseases.
MST-0312 is a FAP-targeted bispecific antibody designed to activate the lymphotoxin-β receptor (LTBR). The therapy aims to drive the formation of tertiary lymphoid structures (TLS) and high endothelial venules (HEV) within solid tumors, biological features associated with improved patient survival and better treatment responses. The program represents a novel approach to treating cancers that are typically resistant to immunotherapy.
Alongside the financing, Mestag announced two key executive appointments to strengthen its leadership team. Lindsey Rolfe has been named Chief Medical Officer, bringing over 30 years of clinical and regulatory experience, including prior leadership roles at Clovis Oncology and 3B Pharmaceuticals. Pascal Merchiers has been appointed Chief Development Officer, contributing more than 25 years of experience in drug discovery and development across multiple biotech organizations, including Commit Biologics, Aboleris, and Tusk Therapeutics.
The company continues to advance a pipeline of antibody-based therapies targeting fibroblast-immune biology. In addition to MST-0312, Mestag is developing programs in inflammatory disease and leveraging its RAFT platform to identify new therapeutic targets, supported by collaborations with major pharmaceutical partners.
KEY QUOTE:
“We are thrilled to welcome Lindsey and Pascal to the team at this exciting time as we progress our groundbreaking program MST-0312 into the STARLYS clinical trial. We thank our exceptional investor syndicate for their unwavering support of our mission to develop impactful new antibody therapeutics for patients with cancer and inflammatory disease. Lindsey’s extensive experience leading global development, medical affairs and regulatory affairs across multiple programs, including regulatory approval, will be instrumental in shaping the advancement of our clinical programs. Additionally, we welcome Pascal, with his breadth and depth of expertise in cancer and inflammatory disease, to drive our development activities, including our innovative pipeline and platform uniquely focused on fibroblast immunology.”
Susan Hill, PhD, Chief Executive Officer, Mestag Therapeutics
