Sling Therapeutics raised $123 million in a Series C round led by Forbion to support a Phase III confirmatory study for linsitinib, an oral candidate for thyroid eye disease (TED). The company’s Orbit trial compares linsitinib 150 mg twice daily versus placebo over 24 weeks in about 130 patients with moderate to severe active TED. The fundraising underscores investor appetite for oral alternatives to approved injectable therapies such as Amgen’s Tepezza (teprotumumab) and Viridian’s Lumvoa (veligrotug-vvze). Sling also previously reported initial data suggesting linsitinib may be less efficacious than injectables, but positioned the program around a potentially improved safety profile and convenience. With Phase III underway, Sling’s next milestones will hinge on whether the oral regimen can match or partially offset efficacy performance while differentiating on tolerability and adherence.