Solve Therapeutics Raises $120M in Latest Funding Round

Solve Therapeutics, a clinical-stage biotechnology company developing antibody-drug conjugates (ADCs) for solid tumor malignancies, has raised $120 million in an oversubscribed and upsized financing to accelerate the development of its clinical pipeline and proprietary CloakLink linker platform.

The round was led by Yosemite, with participation from Abingworth, Ally Bridge Group, B Capital, Balyasny Asset Management, Merck & Co., and SymBiosis, and existing investors Alexandria Venture Investments, AyurMaya Capital Management, DC Global Ventures, General Atlantic, and Surveyor Capital. This latest funding follows a $75 million financing completed in December 2024, bringing Solve’s total capital raised to $321 million.

The company’s lead programs, SLV-154 and SLV-324, are currently in Phase 1 clinical trials in patients with solid tumors. Both utilize the CloakLink platform and targeting antibodies that are specifically engineered for superior ADC performance. The ADCs are paired with novel diagnostic approaches to enable precision patient selection. The new funding will support the completion of Phase 1b studies for both programs and expand the company’s operational capabilities as it advances toward later-stage clinical development.

“We’re thrilled to partner with an outstanding syndicate of investors who share our vision for developing best-in-class ADCs,” said Dave Johnson, CEO & Co-Founder, Solve Therapeutics. “Since founding the company, we’ve built a differentiated platform that combines next-generation ADC engineering, a superior hydrophilic linker system, and novel patient-selection diagnostics. This investment syndicate represents a strong endorsement of our science, our team, and our mission to develop more effective and safer targeted therapies for patients with solid tumors.”