Solve Therapeutics, Inc. (SolveTx), an oncology-focused biopharmaceutical company, has launched with the mission of developing novel antibody-based therapies targeting tumor-specific antigens.
The company’s formation reunites the former VelosBio Inc. team. SolveTx is fully operational with more than 25 employees and is actively pursuing discovery and development efforts at its 10,000-square-foot laboratory in San Diego.
Solve Therapeutics’ management team is headed by chief executive officer Dave Johnson. The founding members of Solve Therapeutics from VelosBio who have worked with Johnson to establish the new company include Langdon Miller, executive vice president of development and chief medical officer; Brian Lannutti, executive vice president of research; Jeff Watkins, senior vice president, protein technology; and Katti Jessen, senior vice president, translational sciences.
Solve Therapeutics’ financing
Solve Therapeutics’ initial $126 million Series A financing was completed with a syndicate of venture capital firms including Matrix Capital Management, Decheng Capital, General Atlantic, and Surveyor Capital/Citadel, each represented on the company’s board of directors.
“I am delighted to reassemble this highly collaborative and successful team of drug developers,” said Dave Johnson, CEO of Solve Therapeutics.
“Together with this incredible group of investors, we are empowered to apply our expertise and resources toward the ultimate goal of prolonging and improving the lives of patients with cancer.”
Solve Therapeutics will use the proceeds for production of antibody-based therapeutics for nonclinical POC characterization, producer cell line generation, good manufacturing practices drug production, IND-enabling pharmacology and toxicology studies, and phase 1 clinical program initiation.
The foundation of Solve Therapeutics’ approach to oncology therapeutics development is the identification of novel cancer-specific targets and the generation of monoclonal antibodies (mAbs) with ideal characteristics to serve as the backbones for antibody-based therapeutics.
The company has signed a licensing agreement with the University of California San Diego for a series of antibodies that show high reactivity with tumors and no or low reactivity with normal tissues, which may enable the selective killing of tumor cells and a broad therapeutic index.
Solve Therapeutics is reviewing other potential in-licensing opportunities as well as performing in-house antibody discovery research. The company’s focus is on the development of novel mAbs, antibody drug conjugates incorporating next-generation linker and payload constructs, and bispecific antibodies.