Lead program, SLTE-1009, licensed from DartsBio Pharmaceuticals (Guangdong), Ltd, is a potentially best-in-class anti-PACAP monoclonal antibody with half-life extension to enable subcutaneous dosing and is on track to initiate Phase 1 clinical trials in mid-2026

Financing was co-led by RA Capital Management, Forbion, and Foresite Capital with participation from an additional undisclosed biotech investor

PACAP (pituitary adenylate cyclase-activating polypeptide) is an emerging, clinically validated target for the prevention of migraines and potentially other headache disorders

Slate Medicines, Inc., a privately-held biotech company advancing next-generation therapeutics for headache disorders, today announced the close of a $130 million Series A financing, alongside the in-licensing of SLTE-1009, an anti-PACAP monoclonal antibody licensed from DartsBio Pharmaceuticals (Guangdong), Ltd.

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. Mr. Oakes most recently served as a Venture Partner at Raven, RA Capital’s healthcare incubator. Prior to that, Mr. Oakes served as President and Chief Executive Officer of Landos Biopharma, acquired by AbbVie, and previously 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 renowned headache specialist and former Vice President, Neurology at Alder Biopharmaceuticals and Lundbeck.

SLTE-1009, also known as DS009, is a monoclonal antibody targeting PACAP for the prevention of migraine and other headache disorders. PACAP has emerged as a clinically validated target distinct from CGRP, offering potential benefit for patients underserved by current preventive therapies. SLTE-1009 was engineered with half-life extension allowing for subcutaneous dosing. The company is also advancing an undisclosed pipeline.

“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,” said Gregory Oakes, CEO of Slate Medicines. “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.”

“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,” said Dr. Roger Cady, Chief Medical Officer, Slate Medicines.

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, will join Slate Medicine’s Board of Directors. Slate Medicines was co-founded by Mr. Buckley and RA Capital’s Sera Medicines, a biologics-focused accelerator advancing next-generation protein therapeutics. Cooley LLP advised Slate Medicines on the licensing transaction and financing.

About Slate Medicines, Inc.

Slate Medicines is a biotech company focused on advancing next generation therapeutics for migraine and other headache disorders. The Company’s lead program, SLTE-1009, is a potential best-in-class subcutaneous anti-PACAP for the prevention of migraine and other headache disorders. The company is backed by leading healthcare investors including RA Capital Management, Forbion, Foresite Capital, and an additional undisclosed biotech investor. For more information, please visit www.slatemedicines.com

About RA Capital Management

Founded in 2004, RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies. RA Capital creates and funds innovative companies, from private seed rounds to public follow-on financings, allowing management teams to drive value creation from inception through commercialization and beyond. RA Capital's knowledge engine is guided by its dedicated, science-first internal research division and Raven, RA Capital's healthcare incubator, offers entrepreneurs and innovators a collaborative and comprehensive platform to explore the novel and the re-imagined. RA Capital has more than 200 employees and over $14 billion in assets under management. Learn more at www.racap.com.

About Forbion

Forbion is a leading global venture capital firm with deep roots in Europe and offices in Naarden, the Netherlands, Munich, Germany, and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies covering all stages of (bio)pharmaceutical drug development. In addition to its human health focus, Forbion also invests in planetary health solutions through its BioEconomy strategy. The firm’s team of over 30 investment professionals has a strong track record, with more than 130 investments across 11 funds, resulting in numerous approved therapies and successful exits. Forbion is a signatory to the UN Principles for Responsible Investment and operates a joint venture with BGV for seed and early-stage investments in Europe.

About Foresite Capital

Foresite Capital is a multi-stage healthcare, sciences and technology investment firm with more than $3 billion in assets under management. The firm addresses areas of great unmet need by funding promising businesses at all stages of their life cycles. Founded in 2011, Foresite Capital is based in the San Francisco Bay Area, Los Angeles, and New York City. For more information, please visit www.foresitecapital.com.

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