Mestag Therapeutics announces $40 million financing

Mestag Therapeutics, a biotech company harnessing fibroblast immunology to develop impactful treatments for patients with cancer and inflammatory diseases, today announced the closing of a $40 million financing supported by leading life science investors SV Health Investors, Johnson & Johnson, through its corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc., Forbion, GV (Google Ventures) and Northpond Ventures. The company also announced the appointment of Lindsey Rolfe, BSc, MBChB, MRCP, FFPM, as Chief Medical Officer and Pascal Merchiers, PhD, as Chief Development Officer.

The financing will support the Phase 1 STARLYS clinical study, which is anticipated to start in cancer patients in mid-2026. MST-0312 is a novel FAP-targeted bispecific antibody directed to lymphotoxin-β receptor (LTBR) to induce the formation of tertiary lymphoid structures (TLS) and high endothelial venules (HEV) within solid tumors. An extensive body of clinical data correlates the presence of TLS and HEV in solid tumors with improved patient survival and enhanced response to therapy. MST-0312 is a first- and best-in-class program pioneering a new therapeutic approach to the treatment of cancer, including tumors that are typically resistant to immunotherapy.

Susan Hill, PhD, Chief Executive Officer of Mestag Therapeutics, said:

We are thrilled to welcome Lindsey and Pascal to the team at this exciting time as we progress our groundbreaking program MST-0312 into the STARLYS clinical trial. We thank our exceptional investor syndicate for their unwavering support of our mission to develop impactful new antibody therapeutics for patients with cancer and inflammatory disease. Lindsey’s extensive experience leading global development, medical affairs and regulatory affairs across multiple programs, including regulatory approval, will be instrumental in shaping the advancement of our clinical programs. Additionally, we welcome Pascal, with his breadth and depth of expertise in cancer and inflammatory disease, to drive our development activities, including our innovative pipeline and platform uniquely focused on fibroblast immunology.