Slate Medicines, a privately held biotech company developing next-generation therapeutics for headache disorders, has launched with the close of a $130 million Series A financing and the in-licensing of SLTE-1009, an anti-PACAP monoclonal antibody from DartsBio Pharmaceuticals (Guangdong), Ltd.
The financing was co-led by RA Capital Management, Forbion, and Foresite Capital, with participation from an additional undisclosed biotech investor.
Based in Raleigh, North Carolina, Slate Medicines is advancing SLTE-1009, also known as DS009, a monoclonal antibody targeting PACAP (pituitary adenylate cyclase-activating polypeptide) for the prevention of migraine and other headache disorders. PACAP has emerged as a clinically validated target distinct from CGRP, offering a potential alternative for patients who remain underserved by current preventive therapies.
SLTE-1009 has been engineered with half-life extension technology to enable subcutaneous dosing and is on track to initiate phase 1 clinical trials in mid-2026. The company is also developing an undisclosed pipeline of additional programs.
Slate Medicines is led by Chief Executive Officer and Board Director Gregory Oakes, a biopharma executive with more than 30 years of experience leading clinical-stage and commercial organizations. Oakes most recently served as a venture partner at Raven, RA Capital’s healthcare incubator. He previously served as president and chief executive officer of Landos Biopharma, which was acquired by AbbVie, and held executive roles at Celgene, Novartis, and Vifor Pharma.
He is joined by Chief Operating Officer and President Neil Buckley, most recently a venture partner at Raven, and Chief Medical Officer Roger Cady, M.D., a headache specialist and former vice president of neurology at Alder Biopharmaceuticals and Lundbeck.
In conjunction with the financing, Andrew Levin, M.D., Ph.D., partner at RA Capital; Tim Lohoff, Ph.D., principal at Forbion; and Cindy Xiong, Ph.D., partner at Foresite Capital, have joined the company’s board of directors. Slate Medicines was co-founded by Buckley and RA Capital’s Sera Medicines, a biologics-focused accelerator. Cooley LLP advised the company on the licensing transaction and financing.
The company said the new capital will support the clinical advancement of SLTE-1009 and position the business to redefine migraine prevention with a differentiated product profile and convenient at-home dosing.
KEY QUOTES
“With compelling biology, a differentiated product profile, and strong investor backing, Slate Medicines is positioned to redefine migraine prevention for patients who need new options. We believe that SLTE-1009 not only offers patients a novel mechanism for migraine prevention but also improved access through convenient at-home subcutaneous dosing.”
Gregory Oakes, Chief Executive Officer, Slate Medicines
“PACAP blockade represents a clinically validated approach for the prevention of migraine headaches. For the millions of patients with an inadequate response to existing standard of care, we believe that SLTE-1009 offers a novel, orthogonal approach to preventing migraines.”
Dr. Roger Cady, Chief Medical Officer, Slate Medicines
