Mestag Therapeutics develops therapies by leveraging fibroblast immunology to treat cancer and inflammatory diseases. Its pipeline includes MST-0312, a FAP-targeted LTBR agonist bispecific antibody designed to exploit tertiary lymphoid structures in solid tumors, and M402, an agonist antibody targeting a stromal inhibitory receptor for inflammatory disease, alongside earlier discovery-stage programs. The company also uses its RAFT Platform to identify novel fibroblast-immune targets and has entered collaborations with MSD in 2024 and a 2021 agreement with Janssen to discover and license targets. Mestag recently raised $40M in financing to fund the Phase 1 STARLYS clinical study, expected to begin in mid-2026. Leadership includes CEO Susan Hill, with Lindsey Rolfe appointed Chief Medical Officer and Pascal Merchiers appointed Chief Development Officer.

Total raised

$87M

Funding rounds

4

Latest round

Equity

Latest activity

Mar 2026