Shattuck Labs Announces Closing of up to $103 Million Private Placement and Appointments to Board of Directors

Core Insights - Shattuck Labs, Inc. has successfully closed a private placement of approximately $103 million, which is expected to fund operations into 2029 and advance SL-325 through multiple Phase 2 clinical trials, including those for Inflammatory Bowel Disease (IBD) [1][3] - The company has appointed two new members to its Board of Directors: Dr. Daniel Baker and Dr. Mona Ashiya, while several outgoing directors have stepped down [2][3] - SL-325 is positioned as a potentially first-in-class DR3 blocking antibody, with expectations for superior efficacy and reduced immunogenicity compared to existing TL1A-blocking antibodies [3][7] Financial Overview - The aggregate net proceeds from the private placement are expected to support Shattuck's planned operations and clinical trials through 2029, assuming full exercise of common stock warrants [1] - The financing is led by OrbiMed, indicating strong investor confidence in the company's future prospects [1] Leadership Changes - Dr. Daniel Baker brings over 20 years of drug development experience, having previously contributed to the development of major drugs like Remicade, Simponi, and Stelara [4] - Dr. Mona Ashiya has extensive experience in the biotechnology sector and serves on the boards of several companies, enhancing the strategic direction of Shattuck [6] Product Development - SL-325 is designed to achieve a complete blockade of the DR3/TL1A pathway, with preclinical studies showing high affinity binding and superior activity over TL1A antibodies [7][8] - The company plans to commence a Phase 1 clinical trial for SL-325 in healthy volunteers in the third quarter of 2025, with multiple data readouts anticipated [3][7]