Solve Therapeutics, Inc., an oncology-focused biopharmaceutical company, announced its mission to develop novel antibody-based therapies targeting tumor-specific antigens. The company’s formation reunites the former VelosBio Inc. (VelosBio) team, a highly experienced group with a proven ability to rapidly advance innovative therapeutics that address unmet medical needs in the treatment of cancer. SolveTx is supported by an accomplished board of directors and a top-tier investor syndicate. The company is fully operational with 25+ employees and is actively pursuing discovery and development efforts at its 10,000-square-foot, state-of-the-art laboratory in San Diego.
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SolveTx’s management team is headed by Chief Executive Officer (CEO) Dave Johnson. In previous roles as CEO, Mr. Johnson oversaw the development of a best-in-class Bruton’s tyrosine kinase inhibitor, acalabrutinib, at Acerta Pharma (established in 2012 and acquired by AstraZeneca for $7B in 2016) and a first-in-class, anti-ROR1 ADC, zilovertamab vedotin, at VelosBio (established in 2017 and acquired by Merck for $2.8B in 2020). The founding members of SolveTx from VelosBio who have worked with Mr. Johnson to establish the new company include Langdon Miller, MD, Executive Vice President of Development and Chief Medical Officer; Brian Lannutti, PhD, Executive Vice President of Research; Jeff Watkins, PhD, Senior Vice President, Protein Technology; and Katti Jessen, PhD, Senior Vice President, Translational Sciences. Collectively, SolveTx management possesses extensive expertise in drug discovery, development candidate selection, investigational new drug application (IND)-enabling evaluation, clinical trial conduct, and business development.
SolveTx’s initial $126 million Series A financing was completed with a syndicate of top-tier 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 SolveTx. “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.”
SolveTx will use the proceeds for production of antibody-based therapeutics for nonclinical POC characterization, producer cell line generation, good manufacturing practices (GMP) drug production, IND-enabling pharmacology and toxicology studies, and Phase 1 clinical program initiation.
SOURCE: PR Newswire