A cohort of premier venture capital firms has invested $130 million into Slate Medicines, a newly established startup based in Raleigh, North Carolina. The Series A funding will be utilized to advance SLTE-1009 — a migraine prevention drug licensed from China-based DartsBio Pharmaceuticals — into clinical testing.
Unlike current mainstream therapies that target calcitonin gene-related peptides (CGRP), Slate’s drug focuses on a protein called PACAP. While both proteins are involved in triggering migraines, PACAP operates through distinct intracellular signaling pathways. This approach is expected to provide a vital alternative for the estimated 37 million people in the U.S. living with migraines, particularly those who do not respond to existing CGRP inhibitors from pharmaceutical giants like Pfizer or Eli Lilly.
Slate’s candidate, SLTE-1009, is designed as a subcutaneous injection that patients can administer at home, offering a more convenient option compared to the intravenous infusion method used by its closest competitor. Led by a leadership team of veterans from high-profile AbbVie and Lundbeck acquisitions, Slate plans to initiate Phase 1 testing by mid-2026, marking a significant step toward addressing underserved headache disorders.