Solve Therapeutics secures $120M to advance smarter cancer-targeting drugs

Solve Therapeutics raised $120M to accelerate testing of its next-gen antibody-drug conjugates designed to target solid tumors more precisely and safely.

Why it matters: ADCs are a rising cancer treatment class, but many still release toxins too early or lack dose flexibility. Solve claims its linker technology ensures drugs stay inactive until reaching tumors, potentially improving both safety and efficacy.

Backstory: Founded by biotech veterans of VelosBio (acquired by Merck for $2.75B) and backed by 12 investors, including Merck & Co. and Yosemite (Reed Jobs’ VC), Solve has now raised $321M in total.

Big picture: Solve enters a competitive ADC space with a focus on holistic optimization, linker, antibody, and toxin, aiming to outperform first-gen ADCs that struggle with premature toxicity and resistance.

Zoom in: With trials reportedly enrolling ahead of schedule, CEO Dave Johnson says early data support Solve’s precision delivery claims. Among its two lead candidates, SLV-154 is being tested in head and neck, lung, and bladder cancers, while SLV-324’s target indications remain undisclosed.