Sling Therapeutics has announced the closing of a $123 million Series C financing round to advance linsitinib, an oral small molecule inhibitor of IGF-1R for thyroid eye disease. The financing was led by Forbion with participation from existing investor TPG Life Sciences Innovations and new investor Sectoral Asset Management. Linsitinib is positioned as the first and only late-stage oral small molecule therapy for this serious autoimmune condition.
Financing Details and Governance
The Series C financing brings expertise from leading life sciences investors and includes new appointments to the company's board of directors. Regina Salvat of Forbion and François Beaubien of Sectoral Asset Management have joined Sling's board in conjunction with the financing. The proceeds will primarily support the continued clinical development of linsitinib through its global Phase 3 ORBIT pivotal trial.
Phase 3 Program and Prior Data
Sling has commenced the global Phase 3 ORBIT pivotal trial evaluating linsitinib in adults with moderate to severe active thyroid eye disease. The study design was aligned with the U.S. Food and Drug Administration during a successful End-of-Phase 2 meeting earlier this year. It builds on the Phase 2b/3 LIDS trial, which met its primary endpoint of reducing proptosis and reported a differentiated safety profile in areas such as hearing impairment, glycemic changes, and menstrual cycle changes.
Linsitinib's Therapeutic Potential
Thyroid eye disease affects more than 200,000 people in the United States and is caused by dysfunction in the IGF-1R signaling pathway, leading to inflammation and fibrous tissue growth behind the eyes. Current treatment options often involve invasive orbital surgery or lengthy infusion regimens with potential adverse events. Linsitinib is designed as a convenient oral therapy that directly targets IGF-1R, a validated pathway, and has been studied in more than 900 patients across 15 clinical trials.
Leadership Commentary
Sling Therapeutics President and Chief Executive Officer Ryan Zeidan stated that the financing reinforces confidence in linsitinib's potential to transform the treatment landscape for people living with thyroid eye disease. He highlighted the data generated to date and the opportunity to offer patients an effective oral treatment option that could be used earlier and more broadly in the treatment journey. Investors also expressed belief in the combination of a validated target, a differentiated safety profile, and improved convenience for patients.
Regulatory Recognition and Next Steps
The U.S. Food and Drug Administration granted Fast Track designation to linsitinib for thyroid eye disease, recognizing the serious nature of the disease and the need for new treatment options beyond currently available therapies. This designation enables more frequent interactions with the agency and eligibility for Rolling Review, Accelerated Approval, and Priority Review if relevant criteria are met. Sling plans to use the new capital to advance linsitinib toward potential commercialization with urgency and purpose for the patient community.
The $123 million Series C financing positions Sling Therapeutics to execute a late-stage clinical program that could deliver the first oral IGF-1R inhibitor for thyroid eye disease. With leadership from Forbion, continued support from TPG Life Sciences Innovations, and the addition of Sectoral Asset Management, the company has strengthened its investor syndicate. If the Phase 3 ORBIT trial confirms earlier findings, linsitinib may offer a more convenient and less burdensome treatment option for patients with significant unmet need.