Sling Therapeutics announces $123M financing

US clinical-stage biopharma Sling Therapeutics today announced the close of a $123 million Series C financing. The proceeds will support the continued clinical advancement of linsitinib, an oral small molecule inhibitor of IGF-1R (insulin-like growth factor 1 receptor), a validated target for the treatment of thyroid eye disease (TED).

Sling has commenced the global Phase III ORBIT pivotal trial for adults with moderate to severe active TED. Alignment on the pivotal Phase III study design was secured during a successful End-of-Phase II meeting with the US Food and Drug Administration (FDA) earlier this year.