On February 25th, Dashi Pharmaceutical announced an exclusive licensing agreement with Slate Medicines, a rising US biopharmaceutical company operating under the NewCo model. Dashi Pharmaceutical will exclusively license the global clinical development and commercialization rights outside of Greater China to Slate Medicines for its independently developed monoclonal antibody DS009 (SLTE-1009), which targets pituitary adenylate cyclase-activating peptide (PACAP). This drug will be used for the prevention and treatment of headaches such as migraines, and will also become the first domestically developed non-opioid biological analgesic to be exported.

Slate Medicines has simultaneously completed a $130 million Series A funding round, co-led by leading US healthcare investment firms including RA Capital Management, Forbion, and Foresite Capital. The funds will primarily be used to advance the global clinical development of DS009. The company is led by CEO Gregory Oakes, who has over 30 years of industry experience. Mr. Oakes also recently served as a venture partner at RA Capital's healthcare incubator, Raven.

According to the cooperation agreement between the two parties, Dashi Pharmaceutical will receive an upfront payment, milestone payments at each stage, and tiered royalties based on global sales, while retaining the rights to develop and commercialize DS009 in Greater China.

As an innovative monoclonal antibody targeting PACAP, DS009's mechanism of action is independent of existing CGRP antibody drugs, effectively covering 30%–60% of migraine patients who do not respond well to conventional therapies. Furthermore, the drug's protein engineering has extended its half-life, allowing for subcutaneous injection and improving ease of administration and adherence. Following licensing, Slate Medicines will lead the clinical development of DS009 outside of Greater China, with clinical trials expected to begin in mid-2026.

https://mp.weixin.qq.com/s/ZdKPKMJuOKtMAqBJ8HsFdQ