Solve Therapeutics closed a $120 million financing round to advance two antibody‑drug conjugates and scale its novel linker chemistry. The startup, founded by members of the former VelosBio team and backed by multiple investors including Merck, said the proceeds will support IND‑enabling studies and early clinical testing. Solve’s pitch centers on next‑generation linkers that promise improved stability and payload delivery compared with earlier ADC formats. The raise signals continued investor appetite for differentiated ADC platforms and sets up near‑term data milestones that will determine clinical de‑risking.