Slate Medicines closed a $130 million Series A to develop SLTE‑1009, a monoclonal antibody targeting PACAP for migraine prevention, positioning the company as an alternative to CGRP‑directed therapies. The financing, led by RA Capital, Forbion and Foresite, funds IND‑enabling work and a Phase I start targeted for mid‑2026. Slate’s program is engineered for subcutaneous at‑home dosing with half‑life extension technology and aims to serve patients unresponsive to current standard‑of‑care. Leadership includes executives with large‑pharma and commercial experience. The new capital and experienced team aim to accelerate clinical proof‑of‑concept for an orthogonal mechanism in migraine, expanding options for patients not benefiting from existing therapies.