What Solve Therapeutics does

Solve Therapeutics, Inc. is a privately held, clinical-stage biopharmaceutical company founded in 2021 and headquartered in Belmont, California, with research and development operations in San Diego, California and Durham, North Carolina. The company develops next-generation antibody-drug conjugates (ADCs) for solid tumor malignancies, with two lead programs — SLV-154 and SLV-324 — currently in Phase 1 clinical trials and a third undisclosed ADC candidate (ADC 3) advancing through earlier development. Its core platform is CloakLink™, a proprietary hydrophilic cleavable linker system engineered to mask the hydrophobic properties of cytotoxic payloads, enabling enhanced plasma stability, improved pharmacokinetics, reduced off-target toxicity, and bystander killing of neighboring cancer cells; CloakLink is designed to be compatible with a wide range of payloads, drug-antibody ratios, and targeting antibodies. In June 2023 the company acquired Cereius, Inc., a Duke University spin-out developing targeted radiodiagnostics and radiotherapeutics, adding a radiolabeling platform and North Carolina laboratory capacity, and the company pairs its ADCs with a novel companion diagnostic approach intended to enable precision patient selection.

Solve Therapeutics does not yet have commercialized products and is pre-revenue; its go-to-market model is the standard pharmaceutical development pathway — clinical trials at oncology research sites, regulatory approval, and eventual distribution through hospitals, oncology clinics, and specialty pharmacies, with potential companion diagnostic revenue and licensing/royalty streams. Target end users are patients with solid tumor cancers who have high unmet medical need for targeted therapies with improved safety and efficacy profiles, reached indirectly via treating oncologists and healthcare institutions. The customer-facing channel today is therefore enterprise-style engagement with clinical trial sites and institutional investigators rather than direct sales.

The company is led by a reconstituted VelosBio (acquired by Merck for $2.75 billion) and Acerta Pharma (acquired by AstraZeneca for $7 billion) leadership team, including CEO Dave Johnson, President Clayton Knox, MD, and EVP Research Brian Lannutti, with additional senior leadership spanning translational sciences, manufacturing/CMC, theragnostics, protein technology, finance, and operations. Through November 2025 Solve has raised approximately $321 million in cumulative funding from a syndicate including Yosemite, Merck & Co., Abingworth, Ally Bridge Group, B Capital, Balyasny Asset Management, SymBiosis, General Atlantic, Alexandria Venture Investments, Surveyor Capital, and others.

Name

Solve Therapeutics

Legal name

Solve Therapeutics, Inc.

Website

https://solvetx.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Solve Therapeutics is a clinical-stage biopharmaceutical company developing next-generation antibody-drug conjugates for solid tumors using its proprietary CloakLink hydrophilic linker platform, with two lead programs in Phase 1 trials and a radiopharmaceutical subsidiary acquired from Cereius.

Ownership category

akta.pro rank

Product category

Oncology Biopharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE)

akta.pro secondary industries

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB), Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC), Drug Discovery (Target ID/Validation & Hit Discovery) (HLAIALAA)

Keywords

• Antibody drug conjugates
• Oncology therapeutics
• Biopharmaceutical development
• Targeted cancer therapy
• Clinical stage research

Headquarters

HQ city

Belmont

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. ADC Therapeutic Pipeline: Solve Therapeutics is a clinical-stage biopharmaceutical company developing novel antibody-drug conjugates (ADCs) for solid tumor malignancies. The company has two lead programs (SLV-154 and SLV-324) in Phase 1 clinical trials. Revenue will be generated through commercialization of therapeutic products following regulatory approval.
2. Diagnostic Platform: Novel diagnostic approach integrated with ADC therapeutics for precision patient selection. Revenue may be generated through companion diagnostic products or licensing of diagnostic technology.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Solve Therapeutics is a clinical-stage biopharmaceutical company developing Antibody Drug Conjugates (ADCs) and Bispecific Therapeutics for solid tumor malignancies. Its lead ADC programs, SLV-154 and SLV-324, are in Phase 1 clinical trials, with a third preclinical ADC (ADC 3) and a Bispecific Therapeutic Platform in earlier-stage development. The company leverages its proprietary CloakLink™ hydrophilic linker technology to design ADCs with enhanced plasma stability, improved pharmacokinetics, and reduced off-target toxicity, and complements this with a companion Diagnostic Platform for precision patient identification.

Differentiator

Problem solved

Functional benefit

Products and services

• SLV-154 SLV-154 is a Phase 1 antibody drug conjugate (ADC) being developed by Solve Therapeutics for the treatment of solid tumor malignancies. It is one of the company's two lead ADC programs.
• SLV-324 SLV-324 is a Phase 1 antibody drug conjugate (ADC) being developed by Solve Therapeutics for the treatment of solid tumor malignancies. It is one of the company's two lead ADC programs, alongside SLV-154.
• ADC 3 ADC 3 is an earlier-stage, preclinical antibody drug conjugate in Solve Therapeutics' pipeline, intended for the treatment of solid tumor malignancies.
• Companion Diagnostic Platform The Companion Diagnostic Platform is a precision-medicine diagnostic offering intended to identify patients most likely to benefit from Solve Therapeutics' ADC therapies. It is being developed to be paired with the company's ADC pipeline, and the company has indicated potential revenue from licensing the diagnostic technology.

Quantifiable outcome

• Two lead programs (SLV-154 and SLV-324) in Phase 1 clinical trials as of November 2025
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Cereius, Inc.coreStrategic or Co-development Partner · 22 June 2023Solve Therapeutics acquired Cereius, Inc., a Duke University oncology spin-out focused on radiodiagnostics and radiotherapeutics for cancer. The acquisition incorporated Cereius's radiolabeling technology platform and facilities in North Carolina, enhancing SolveTx's oncology therapeutic arsenal. Deal included upfront payments, milestone payments, and royalties based on sales of products developed from Cereius's technology.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Seagen: ADC leader (Adcetris, Padcev, Tukysa, Tivdak) acquired by Pfizer for $43B. Directly comparable as a clinical-to-commercial ADC developer with proprietary linker technology and a focus on oncology.
• ImmunoGen: Pioneer in ADC technology with approved products (Elahere) and a deep linker/payload IP estate acquired by AbbVie. Highly comparable as an ADC platform company developing solid-tumor ADCs.
• Mersana Therapeutics: Clinical-stage ADC developer with proprietary linker and payload platforms (Dolasynthen, Immunosynthen) targeting solid tumors. Closely comparable ADC platform company at similar stage of development.
• VelosBio: Founded by Solve CEO Dave Johnson, VelosBio developed ROR1-directed ADCs (including VLS-101/zilovertamab vedotin) and was acquired by Merck for $2.75B. It is the most directly comparable antecedent to Solve in terms of team, modality, and exit pathway.

Broad incumbents

• AstraZeneca: Acquired Acerta Pharma (Solve CEO Dave Johnson's prior company) for $7B and now markets Calquence. Comparable both as a large oncology player and as the acquirer of Solve leadership's prior ADC/small-molecule platform.
• Daiichi Sankyo: Co-developer of Enhertu and Datroway with AstraZeneca, operating a broad oncology portfolio with deep ADC capabilities. Directly comparable as a major-pharma ADC competitor and potential strategic acquirer of Solve.
• Telix Pharmaceuticals: Commercial-stage radiopharmaceutical/theranostics company. Comparable via the Cereius-acquired radiopharmaceutical platform at Solve, especially in targeted radiodiagnostics and radiotherapeutics for solid tumors.

Emerging players

• ProfoundBio: Clinical-stage ADC developer focused on solid tumors with proprietary linker technology. Comparable as an early-stage ADC platform peer that was acquired by Genmab in 2024.
• Tubulis: Emerging ADC platform company developing proprietary linkers (P5 Conjugate, Tub-tag) for solid tumors. Comparable as an early-stage ADC platform competitor with linker-focused differentiation.
• Pyxis Oncology: Clinical-stage ADC developer (microtubule-inhibitor and topoisomerase-based payloads) with a focus on solid tumors. Comparable as a similarly staged, similarly capitalized ADC competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/solve-therapeutics-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solve Therapeutics