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Raised $120M oversubscribed (Nov 2025) with Merck & Co. as new equity investor. $321M total. CloakLink ADC technology reduces hydrophobicity and toxicity. Two Phase 1b solid tumor trials active.
Solve Therapeutics develops antibody-drug conjugates (ADCs) using its proprietary CloakLink technology — which reduces the hydrophobicity and systemic toxicity that are the two primary causes of ADC clinical failure. The company raised $120 million in an oversubscribed financing round in November 2025, with Merck & Co. making a direct equity investment (rather than a typical licensing deal), bringing total funding to $321 million. Two ADC programs (SLV-154 and SLV-324) are in active Phase 1b trials in solid tumor patients.
Received up to $40.7M ARPA-H award (Oct 2025). Polymeric nanoparticle platform to reprogram immune cells in vivo without viral vectors. Non-viral delivery for CAR-T-like therapies.
ImmunoVec is developing a non-viral polymeric nanoparticle delivery platform for in vivo immune cell engineering — programming a patient's immune cells directly inside their body without the expensive ex vivo manufacturing process that makes CAR-T therapies cost $500,000-$1,000,000 per treatment. The company received a selective ARPA-H (Advanced Research Projects Agency for Health) award of up to $40.7 million in October 2025 for development of its platform.
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