Mestag raises $40 million and strengthens leadership for clinical push

Mestag Therapeutics has secured $40 million in new financing as it prepares to move its lead cancer program into the clinic. The funding brings total committed capital to more than $95 million and will support the Phase 1 STARLYS study of MST 0312 in solid tumors, alongside broader platform and pipeline work in inflammatory disease. The company has also appointed Lindsey Rolfe as Chief Medical Officer and Pascal Merchiers as Chief Development Officer, adding senior development expertise at a key stage of growth. Mestag said the new backing from existing investors reflects confidence in its fibroblast immunology approach and in the potential of its pipeline. With its lead program expected to enter patient testing in mid 2026, the company is positioning itself for an important transition from discovery led biotech to clinical stage developer.