Shattuck Labs announced the closing of its private placement, which raised up to approximately $103 million, led by OrbiMed. This financing is expected to fund the company's operations into 2029, assuming full exercise of common stock warrants.
The proceeds from this financing are designated to advance SL-325 through multiple clinical milestones, including placebo-controlled, randomized Phase 2 trials. This capital infusion provides significant financial backing for the company's lead program in inflammatory diseases.
In conjunction with the financing, Shattuck Labs appointed two new members to its Board of Directors: Daniel Baker, M.D., an industry expert with over 20 years of drug development experience, and Mona Ashiya, Ph.D., a Member at OrbiMed. Concurrently, Directors Tyler Brous, Carrie Brownstein, M.D., Michael Lee, and Kate Sasser, Ph.D., stepped down from the Board.
The company highlighted that the recent IND clearance for SL-325, the closing of the private placement, and the Board additions mark an important repositioning of Shattuck as an immunology and inflammation-focused organization. SL-325 is expected to enter a Phase 1 trial in the third quarter of 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.