RALEIGH, N.C. — Slate Medicines has launched with $130 million in Series A financing to advance a pipeline of next-generation therapies targeting migraine and other headache disorders, anchored by an anti-PACAP monoclonal antibody program licensed from DartsBio Pharmaceuticals.
The privately held biotechnology company said the financing was co-led by RA Capital Management, Forbion, and Foresite Capital, with participation from an additional undisclosed biotech investor. The funding will support the development of Slate Medicines’ lead program, SLTE-1009, which is expected to enter Phase 1 clinical trials in mid-2026.
SLTE-1009, also known as DS009, is a monoclonal antibody designed to block pituitary adenylate cyclase-activating polypeptide, or PACAP, an emerging and clinically validated target for migraine prevention. Unlike CGRP-based therapies, PACAP represents a distinct biological pathway and may offer an alternative option for patients who do not respond adequately to existing preventive treatments. The antibody has been engineered with half-life extension to enable subcutaneous dosing, allowing for potential at-home administration.
Slate Medicines is led by Chief Executive Officer and board director Gregory Oakes, a biopharmaceutical executive with more than three decades of experience across clinical-stage and commercial organizations. Oakes most recently served as a venture partner at Raven, RA Capital’s healthcare incubator. He previously held leadership roles at Landos Biopharma, which was acquired by AbbVie, as well as at Celgene, Novartis, and Vifor Pharma.
The leadership team also includes President and Chief Operating Officer Neil Buckley, formerly a venture partner at Raven, and Chief Medical Officer Roger Cady, M.D., a headache specialist who previously served as vice president of neurology at Alder Biopharmaceuticals and Lundbeck.
“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,” Oakes said. “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,” Cady said. “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.”
As part of the financing, Andrew Levin, M.D., Ph.D., of RA Capital Management, Tim Lohoff, Ph.D., of Forbion, and Cindy Xiong, Ph.D., of Foresite Capital will join Slate Medicines’ board of directors.
The company said it is also advancing an undisclosed pipeline beyond its lead PACAP program as it builds out its platform focused on headache disorders.
