Solve Therapeutics raises $120m as MSD joins list of backers

Core Insights - Solve Therapeutics has raised $120 million for its antibody-drug conjugates (ADCs) pipeline, marking its position in the oncology sector [1] - The funding increases the total capital raised by Solve to $321 million, aimed at advancing Phase I studies for lead programs SLV-154 and SLV-324 [2] - ADCs are a targeted cancer therapy that combines monoclonal antibodies with cytotoxic drugs, offering improved efficacy and reduced side effects compared to traditional chemotherapy [3] Company Overview - Solve's CEO, Dave Johnson, emphasizes the company's differentiated platform that integrates next-generation ADC engineering and patient-selection diagnostics, highlighting the investment as a validation of their scientific approach [4] - Johnson has a successful track record in the biotech industry, previously co-founding VelosBio, which was acquired by MSD for $2.75 billion in 2020 [4] Industry Context - The ADC sector has seen significant growth, with major pharmaceutical companies engaging in billion-dollar deals to enhance their pipelines, such as Pfizer's $43 billion acquisition of Seagen [5] - Roche has also been active in the ADC space, signing three deals in 2023, including a $1 billion agreement with Oxford BioTherapeutics [5] - MSD has been expanding its portfolio in the ADC market, securing a broad-cancer ADC asset for $700 million in early November [6]