DURHAM, N.C. & AUSTIN, Texas--(BUSINESS WIRE)--Shattuck Labs, Inc. (“Shattuck”), a clinical-stage biotechnology company advancing its proprietary Agonist Redirected Checkpoint (ARC™) platform to develop a novel class of biologic medicines for the treatment of cancer and autoimmune disease, today announced the closing of a $118 million Series B equity financing. Redmile Group was the lead investor, with other new investors including Janus Henderson Investors, Fidelity Management & Research Company, LLC, EcoR1 Capital, Hatteras Venture Partners, Avidity Partners, Partner Fund Management, Emerson Collective, and Piper Sandler & Co., as well as participation from existing investors.
“Over the past four years we have pioneered the development of our proprietary ARC technology platform, which consolidates checkpoint blockade and tumor necrosis factor receptor superfamily (TNFRSF) agonism into single therapeutics, tackling many of the risks associated with a new biologics platform along the way,” said Taylor Schreiber, M.D., Ph.D., Chief Executive Officer of Shattuck. “The support from this syndicate of experienced life science investors will accelerate clinical development of multiple programs aimed to establish ARC therapeutics as an entirely new class of biologic medicine.”
The proceeds from the financing will be used to support the continued clinical development of SL-172154 (SIRPα-Fc-CD40L), a wholly-owned fusion protein that combines CD47 inhibition with CD40 co-stimulation, and SL-279252 (PD1-Fc-OX40L), Shattuck’s lead PD1 asset being developed in collaboration with Takeda Pharmaceuticals. Shattuck anticipates adding another clinical program in 2021 and continuing the development of an innovative pipeline of compounds for the treatment of cancer and autoimmune disease.
About Shattuck Labs, Inc.
Shattuck is a clinical-stage biotechnology company advancing its proprietary Agonist Redirected Checkpoint (ARC™) platform, a novel class of dual function fusion proteins with applications in oncology and autoimmune disease. The company’s lead program, SL-279252 (PD1-Fc-OX40L), is being studied in a Phase I trial in collaboration with Takeda Pharmaceuticals. A second compound, SL-172154 (SIRPα-Fc-CD40L), will begin enrollment in a Phase I trial in 2020. Shattuck’s ARC platform enables a unique consolidation of checkpoint blockade and tumor necrosis factor receptor superfamily (TNFRSF) agonism into single therapeutics. Shattuck has offices in both Durham, North Carolina and Austin, Texas. For more information, please visit: http://www.ShattuckLabs.com.