Sling Therapeutics, Inc., a biopharmaceutical company, has announced its official launch with a $35M Series A financing led by TPG's The Rise Fund. The funding will support a Phase 2b clinical trial for linsitinib, an investigational drug aimed at treating Thyroid Eye Disease (TED). Linsitinib, which has been in-licensed from Astellas Pharma, is designed to inhibit the insulin-like growth factor I receptor (IGF-1R), addressing the dysfunction in the IGF-1R signaling pathway that leads to TED.
TED is a debilitating autoimmune disease affecting approximately 20,000 people annually in the U.S., with similar prevalence in Europe. It causes inflammation and scar tissue formation behind the eyes, leading to symptoms such as eye bulging, double vision, and a significant reduction in quality of life. The disease predominantly affects women and is most common in individuals with hyperthyroidism due to Graves' disease.
The U.S. Food and Drug Administration (FDA) has cleared an Investigational New Drug (IND) application for linsitinib, allowing Sling Therapeutics to proceed with a Phase 2b clinical trial. The company is also exploring additional potential indications for linsitinib beyond TED, including rare and autoimmune diseases.
Sling Therapeutics has assembled a management team with extensive drug development and operations experience, including Ryan Zeidan, Ph.D., President and Chief Executive Officer, who has a background in leading research and development activities for late-stage assets in rare diseases, oncology, and vaccines. The team's expertise is expected to accelerate the development of linsitinib and bring a convenient, orally administered treatment option to TED patients, potentially reducing the treatment burden compared to currently available therapies.
