Solve Therapeutics closed a $120 million financing round to develop next‑generation antibody‑drug conjugates, including novel linker technologies the company says can improve therapeutic index and address limitations of earlier ADCs. The raise was backed by multiple investors, including a strategic commitment from Merck, and will fund preclinical optimization and expanded IND work. Solve emphasized proprietary 'linker' chemistry intended to control payload release and reduce off‑tumor toxicity, with a focus on solid tumors historically resistant to ADC strategies. The company expects to nominate IND candidates and advance CMC scale‑up with the new capital. Investors view the financing as a bet on engineering advances that could unlock ADC potential across more indications; commercial and regulatory execution will hinge on clinical tolerability and clear biomarker‑driven patient selection.