Sling Therapeutics raised $123 million in a Series C round to run its Phase 3 confirmatory trial for linsitinib, positioning it as an oral alternative for thyroid eye disease. The Orbit study compares linsitinib 150 mg twice daily against placebo in about 130 patients with moderate to severe active TED over 24 weeks. The financing is led by Forbion with participation from TPG Life Sciences Innovations and new investor Sectoral Asset Management. Sling’s move keeps pressure on the competitive landscape against Tepezza and Lumvoa, while also betting on dosing convenience to broaden uptake if safety holds up in late-stage data.