Sling Therapeutics raised $123 million in a Series C financing to support the Phase 3 development of linsitinib, an oral small-molecule therapy for thyroid eye disease (TED).
The company says it has already started the global Phase 3 ORBIT pivotal trial in adults with moderate to severe active TED.
Linsitinib was originally developed by Astellas as a cancer drug, then licensed by Sling in 2022 for TED development.
The trial is designed to study whether the drug can reduce proptosis, or eye bulging, over a 24-week treatment period.
Sling says earlier midstage data showed the drug met its endpoint and had a differentiated safety profile compared with other IGF-1R treatments.
The funding was led by Forbion, with participation from TPG Life Sciences Innovations and Sectoral Asset Management.
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