Financing was co-led by RA Capital Management, Forbion, and Foresite Capital with participation from an additional undisclosed biotech investor
- Lead program, SLTE-1009, licensed from DartsBio (Guangdong) Pharmaceuticals, Ltd., is a potentially best-in-class anti-PACAP monoclonal antibody with half-life extension to enable subcutaneous dosing and is on track to initiate Phase 1 clinical trials by mid-2026
- PACAP (pituitary adenylate cyclase-activating polypeptide) is an emerging, clinically validated target for the prevention of migraines and potentially other headache disorders
Naarden, The Netherlands, February 24, 2026 – Forbion, a leading life sciences venture capital firm with deep roots in Europe, today announces that it has co-led a $130 million Series A financing in Slate Medicines, Inc., a privately-held biotech company advancing next-generation therapeutics for headache disorders, alongside the in-licensing of SLTE-1009, an anti-PACAP monoclonal antibody licensed from DartsBio (Guangdong) Pharmaceuticals, Ltd.
SLTE-1009, also known as DS009, is a monoclonal antibody targeting PACAP for the prevention of migraine and other headache disorders. PACAP has emerged as a clinically-validated target distinct from CGRP, offering potential benefit for patients underserved by current preventive therapies. SLTE-1009 was engineered with half-life extension allowing for subcutaneous dosing. The company is also advancing an undisclosed pipeline.
At Forbion, our Ventures strategy is centered on building and scaling companies around compelling science and clear unmet needs. Slate Medicines exemplifies this approach, combining validated biology, differentiated innovation, and an experienced leadership team from day one. By scaling companies like Slate, we aim to shape category-defining therapeutics with global impact. We are excited to support the advancement of SLTE-1009 and help unlock the potential of PACAP blockade for patients with migraine.”
Tim Lohoff, PhD
Principal, Forbion
“With compelling biology, a differentiated product profile, and strong investor backing, Slate Medicines is positioned to redefine migraine prevention for patients who need new options,” said Greg Oakes, CEO of Slate Medicines. “We believe that SLTE-1009 not only offers patients a novel mechanism for migraine prevention but also improved access through convenient at-home subcutaneous dosing.”
“PACAP blockade represents a clinically validated approach for the prevention of migraine headaches. For the millions of patients with an inadequate response to existing standard of care, we believe that SLTE-1009 offers a novel, orthogonal approach to preventing migraines,” said Dr. Roger Cady, Chief Medical Officer, Slate Medicines.
In conjunction with the financing, Tim Lohoff, Ph.D., Principal at Forbion, Andrew Levin, M.D., Ph.D., Partner at RA Capital, and Cindy Xiong, Ph.D., Partner at Foresite Capital, will join Slate Medicine’s Board of Directors. Slate Medicines was co-founded by Mr. Buckley and RA Capital’s Sera Medicines, a biologics-focused accelerator advancing next-generation protein therapeutics. Cooley LLP advised Slate Medicines on the licensing transaction and financing.
Read the company release here.
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About Slate Medicines, Inc.
Slate Medicines is a biotech company focused on advancing next generation therapeutics for migraine and other headache disorders. The Company’s lead program, SLTE-1009, is a potential best-in-class subcutaneous anti-PACAP for the prevention of migraine and other headache disorders. The company is backed by leading healthcare investors including RA Capital Management, Forbion, Foresite Capital, and an additional undisclosed biotech investor. For more information, please visit www.slatemedicines.com
About Forbion
Forbion is a leading global venture capital firm with deep roots in Europe and offices in Naarden, the Netherlands, Munich, Germany, and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies covering all stages of (bio)pharmaceutical drug development. In addition to its human health focus, Forbion also invests in planetary health solutions through its BioEconomy strategy. The firm’s team of over 30 investment professionals has a strong track record, with more than 130 investments across 11 funds, resulting in numerous approved therapies and successful exits. Forbion is a signatory to the UN Principles for Responsible Investment and operates a joint venture with BGV for seed and early-stage investments in Europe.
