Shattuck Labs Announces Oversubscribed Private Placement of Up to Approximately $103 Million

Core Insights - Shattuck Labs, Inc. has entered into a securities purchase agreement for a private placement financing expected to yield total gross proceeds of approximately $103 million, which will fund the development of SL-325 through multiple Phase 2 clinical trials [1][5] Group 1: Financing Details - The private placement is led by OrbiMed and includes participation from both new and existing investors such as Coastlands Capital, Prosight Capital, Adage Capital, Redmile Group, and NextBio Capital [2] - The financing will involve the issuance of 15,225,158 shares of common stock and pre-funded warrants for an aggregate of 37,410,188 shares, along with warrants for an additional 52,635,346 shares [3] - The purchase price for each share of common stock is set at $0.8677, with accompanying warrants having an exercise price of $1.0846 [3] Group 2: Clinical Development Plans - SL-325 is a potentially first-in-class DR3 blocking antibody aimed at treating Crohn's disease, ulcerative colitis, and other autoimmune diseases, with Phase 1 clinical trial enrollment expected to begin in the current quarter [4][9] - The anticipated net proceeds from the private placement will be used for the clinical development of SL-325, including multiple Phase 2 trials in inflammatory bowel disease (IBD) and another autoimmune disease [5] - The total proceeds from the private placement, combined with current cash and equivalents, are expected to fund operations into 2029 [1][5] Group 3: Company Overview - Shattuck Labs, Inc. specializes in developing treatments for autoimmune and inflammatory diseases, with a focus on novel therapeutics targeting TNF superfamily receptors [10] - The company is headquartered in Austin, Texas, and Durham, North Carolina, and is recognized for its expertise in protein engineering and the development of TNF receptor agonist and antagonist therapeutics [10]