Sling Therapeutics in Ann Arbor Closes $35M Series A Funding
Sling Therapeutics Inc. of Ann Arbor, a biopharmaceutical company focused on the advanced development of an oral small molecule for the treatment of thyroid eye disease (TED), announced the official launch of the company with $35 in Series A funding. million led by The Rise Fund of San Francisco’s TPG.
The U.S. Food and Drug Administration (FDA) has authorized an Investigational New Drug (IND) application for linsitinib for the treatment of ASD, and Sling Therapeutics is launching a Phase 2b clinical trial, which the funds will support. The company is also exploring other potential indications beyond PDD, including in rare and autoimmune diseases.
“We are launching Sling Therapeutics with a data-driven clinical development program with more than 800 patients who have received linsitinib in cancer clinical trials, allowing us to accelerate the development of linsitinib in PDD” , says Ryan Zeidan, President and CEO. CEO of Sling Therapeutics.
“Linsitinib will be the first oral IGF-1R inhibitor to enter late-stage clinical trials for PDD and we have the potential to provide patients with a convenient orally administered drug. We are pleased to have received IND clearance from the FDA and are initiating a phase 2b study. Our goal is to significantly reduce the burden of treatment on patients and the healthcare system compared to currently marketed products. »
PDD is a debilitating autoimmune disease that affects approximately 20,000 people in the United States per year and has a similar prevalence in Europe. The immune system mistakenly attacks muscle and fat tissue behind the eyes, causing inflammation and scar tissue to form.
The inflammation can push the eyes forward or cause the eyes and eyelids to become red and swollen. As the disease progresses, it can lead to pain, eye swelling, double vision, and a profound reduction in quality of life. PDD primarily affects women and most commonly affects people with hyperthyroidism due to Graves’ disease.
Linsitinib, which was licensed from Astellas Pharma to Sling Therapeutics, is designed to inhibit the insulin-like growth factor I receptor (IGF-1R). Dysfunction of the IGF-1R signaling pathway results in a prevalence of thyroid-stimulating hormone receptor autoantibodies (TSHR-Abs) that lead to excessive fibrous tissue growth in PDD. Independent data from a model of PDD in patient fibroblast cells suggests that linsitinib is at least as potent as currently available therapy.
Peter Bojo, Director of TPG Life Sciences Innovation, and Dr. Lucian Iancovici, Managing Director of TPG Life Sciences Innovation, will join the Board on behalf of The Rise Funds and work closely with management to launch the company.
Sling Therapeutics has assembled a leadership team that has extensive experience in drug development and operation:
Zeidan, President and CEO, was previously Director of Development at Millendo Therapeutics and held various positions at Celgene and Novartis where he led research and development activities for late-stage assets including rare diseases, oncology and vaccines.
Robin Schmidt, the COO, brings more than 25 years of experience in clinical trial strategy and execution at large pharmaceutical, biotechnology and CRO companies. She is the former Vice President of Clinical Operations at Millendo Therapeutics.
Catherine Radovich, Vice President of Clinical Operations, has over 25 years of experience running clinical trials and delivering data to large pharmaceutical, biotech, academic and CRO companies. She previously served as director of clinical operations at Millendo Therapeutics and is the former administrative program director for the Michigan Institute for Clinical and Health Research.
Ronald Dadino, CMC Vice President and Manufacturing, has more than 35 years of experience in the development, manufacturing and marketing of pharmaceutical products.