Slate Medicines closed a $130 million Series A to advance SLTE‑1009, an anti‑PACAP antibody licensed from China‑based DartsBio, into clinical testing for migraine prevention. The financing, led by major venture investors, will support a Phase I program expected to begin in mid‑2026 and build outpatient dosing infrastructure for a subcutaneous preventive therapy. Slate positions SLTE‑1009 as a mechanistically distinct option from CGRP inhibitors, targeting PACAP pathways that may benefit patients who fail or cannot tolerate existing therapies. The company highlighted the subcutaneous formulation as a potential advantage over intravenous competitors. The raise reflects investor appetite for differentiated migraine modalities and for China‑originated assets repurposed through Western clinical development channels.