Shattuck Labs ends silence with a shout-out on $118M raise for fusion protein work
After four years of relative obscurity in a residential Austin neighborhood, Shattuck Labs has emerged with $118 million from Redmile Group and over 10 other investors.
Co-founded in 2016 by CEO Taylor Schreiber, an immunologist and a lymphoma survivor, the startup announced an immuno-oncology partnership with Takeda the next year, but kept an otherwise low profile. SEC records indicate they raised a $46 million Series A in 2018, but they never put out a press release.
The new money will advance the Takeda-partnered drug, which they put into Phase I a year ago, and a wholly-owned drug for which they just registered a Phase I study on clinicaltrials.gov at the end of May.
The company says it’s making a new class of drugs it calls agonist redirected checkpoints, or ARCs. These are fusion proteins that can both inhibit a checkpoint to unblock the immune system — like a PD-1 drug — and activate tumor necrosis factor, like Remicade or Humira. The idea is that by compounding the effects, you can have more potent medicines and apply immunotherapy to a broader range of cancers.
Their lead in-house drug inhibits CD47 (like the drugs made by Gilead’s recent buyout, Forty Seven Inc.) and stimulates CD40 (a common experimental antibody target). They are testing it now in ovarian cancer, fallopian tube cancer and primary peritoneal cancer. The Takeda-partnered drug targets PD-1 and OX40 and is being tested in a long list of solid tumors. They expect to add a third clinical program in 2021.