Participated · Series B · Mar 2020

Silverback Therapeutics develops targeted immuno-oncology and other tissue-directed therapeutics using its proprietary ImmunoTAC platform, which pairs payloads that modulate disease pathways with monoclonal antibodies directed at specific disease sites. Its lead candidate, SBT6050, is a TLR8 agonist payload conjugated to a HER2-directed antibody and is currently in a Phase 1 clinical study for advanced or metastatic HER2-expressing solid tumors. The company intends to advance SBT6050 through clinical development and to continue progressing a broader preclinical pipeline of ImmunoTAC therapeutics. Silverback emphasizes delivering TLR8 agonists with improved preclinical safety and tolerability to achieve broad innate immune activation in the tumor microenvironment. Leadership changes (promotions of the president/CSO and CMO) were announced to support clinical and preclinical development efforts. The company is located in Seattle, Washington. Silverback Therapeutics pioneers ImmunoTAC™ antibody‑drug conjugates that systemically deliver potent immune modulators but act locally at target sites. Its lead candidate, SBT6050, is an anti‑HER2 antibody conjugated to a TLR8 agonist intended for HER2‑expressing solid tumors. The company plans to file an IND and initiate clinical investigation of SBT6050 this year. Proceeds from financing will support advancement of SBT6050 and the broader pipeline of ImmunoTAC programs. Silverback reports durable, curative single‑agent activity in preclinical models of SBT6050 and emphasizes myeloid activation and tumor microenvironment reprogramming. The company is headquartered in Seattle and, since its 2016 inception, has raised over $125 million in venture capital. Silverback Therapeutics is developing a platform (described as ImmunoTAC) to enable systemically delivered therapies—such as oral pills or IV injections—that become active only in disease-affected sites, aiming to improve efficacy and reduce systemic toxicities. Its pipeline focuses on treatments for cancer and fibrosis. The company operated in stealth out of Seattle’s South Lake Union and has recruited talent from Amgen, Bristol-Myers Squibb, Genentech and Juno Therapeutics. Silverback disclosed an additional $37.5 million in funding, bringing its Series A to $47.5 million, with investments from existing backer OrbiMed and new investors Celgene and Alexandria Investment Partners; SEC filings show a prior $10 million in 2016. The science behind ImmunoTAC originated with co-founders Peter Thompson and Dr. Badreddin Edris. Leadership shifted recently when Eric Dobmeier, who joined as CEO in January, departed and Thompson resumed the CEO role as the company extended its development timeline for the lead program.