Shattuck Labs Announces Closing of up to $103 Million Private Placement and Appointments to Board of Directors
— Aggregate net proceeds from private placement expected to fund SL-325 through multiple Phase 2 clinical trials, including in Inflammatory Bowel Disease (IBD) and potentially another autoimmune disease —
— Pro forma cash and cash equivalents, assuming full exercise of common stock warrants, expected to fund planned operations into 2029 —
— Industry expert Dan Baker, M.D., and OrbiMed representative Mona Ashiya, Ph.D., appointed to the Board of Directors —
AUSTIN, TX and DURHAM, NC, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Shattuck Labs, Inc. (Shattuck) (NASDAQ:STTK), a biotechnology company pioneering the development of novel therapeutics targeting tumor necrosis factor (TNF) superfamily receptors for the treatment of patients with inflammatory and immune-mediated diseases, today announced the closing of Shattuck's recently announced private placement of up to approximately $103 million, led by OrbiMed. Proceeds from the financing, assuming full exercise of common stock warrants, are expected to fund operations into 2029 and advance SL-325 through multiple clinical milestones, including placebo controlled, randomized, Phase 2 trials.
In association with the closing of the financing, Shattuck also announced the appointment of two new members to its Board of Directors (the Board): Daniel Baker, M.D., industry expert, and Mona Ashiya, Ph.D., Member at OrbiMed. As part of this transition, Directors Tyler Brous, Carrie Brownstein, M.D., Michael Lee, and Kate Sasser, Ph.D., have stepped down from the Board.
"Our recent clearance for the SL-325 IND, closing of the private placement, and Board additions mark an important repositioning of Shattuck as an immunology and inflammation focused organization," said Taylor Schreiber, M.D., Ph.D., Chief Executive Officer of Shattuck. "We believe SL-325 is a potentially first-in-class DR3 blocking antibody with the potential for superior efficacy and reduced immunogenicity relative to TL1A-blocking antibodies. We are grateful to our outgoing Directors, Dr. Carrie Brownstein, Dr. Kate Sasser, Michael Lee, and Tyler Brous, for their longtime support of Shattuck and this transition. We are very pleased to welcome Dr. Dan Baker, M.D., who brings more than 20 years of industry leadership experience, having contributed to the development of Remicade, Simponi and Stelara while serving as the VP of Immunology and Disease Area Stronghold Leader at Johnson & Johnson/Janssen, and also Dr. Mona Ashiya, Ph.D., an accomplished biotechnology industry expert and Member at OrbiMed, to our Board of Directors."
"I look forward to leveraging my immunology and drug development background to help advance a novel DR3 blocking antibody as part of Shattuck's Board of Directors and working with management to execute on its exciting development program in inflammatory bowel disease," said Dr. Baker. ...
