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Rahway Today
By the People, for the People
Mestag Therapeutics Raises $40M, Appoints New Executives
Financing supports Phase 1 STARLYS trial of novel cancer immunotherapy; new CMO and CDO to lead clinical development.
Mar. 17, 2026 at 8:33am
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Mestag Therapeutics, a biotech company focused on fibroblast immunology, announced a $40 million financing round led by SV Health Investors, Johnson & Johnson Innovation, Forbion, GV, and Northpond Ventures. The company also appointed Lindsey Rolfe as Chief Medical Officer and Pascal Merchiers as Chief Development Officer to support the advancement of its pipeline, including the Phase 1 STARLYS trial evaluating the novel FAP-targeted LTBR agonist antibody MST-0312 in solid tumors.
Why it matters
Mestag's approach of targeting fibroblasts to induce tertiary lymphoid structures and high endothelial venules within solid tumors represents a promising new therapeutic strategy to enhance cancer immunotherapy. The addition of experienced biopharma leaders Rolfe and Merchiers bolsters the company's ability to successfully advance its innovative pipeline.
The details
The $40 million financing will support the Phase 1 STARLYS trial of MST-0312, Mestag's lead program that aims to induce the formation of tertiary lymphoid structures and high endothelial venules within solid tumors. MST-0312 is a first- and best-in-class bispecific antibody targeting fibroblast activation protein (FAP) and lymphotoxin-β receptor (LTBR). Lindsey Rolfe, with over 30 years of experience leading global clinical development and regulatory affairs, will serve as Chief Medical Officer. Pascal Merchiers, who has 25+ years of R&D leadership in biologics and immunology, joins as Chief Development Officer.
- The Phase 1 STARLYS clinical trial is anticipated to start in mid-2026.
The players
Mestag Therapeutics
A biotech company harnessing fibroblast immunology to develop treatments for cancer and inflammatory diseases.
Lindsey Rolfe
An experienced biopharma executive who joins Mestag as Chief Medical Officer, bringing over 30 years of clinical development and regulatory expertise.
Pascal Merchiers
The new Chief Development Officer at Mestag, with over 25 years of experience leading drug discovery and preclinical development programs in biologics and immunology.
SV Health Investors
A leading life science investment firm that co-led Mestag's $40 million financing round.
Johnson & Johnson Innovation – JJDC, Inc.
The corporate venture capital arm of Johnson & Johnson that participated in Mestag's financing.
What they’re saying
“We are thrilled to welcome Lindsey and Pascal to the team at this exciting time as we progress our groundbreaking program MST-0312 into the STARLYS clinical trial.”
— Susan Hill, Chief Executive Officer of Mestag Therapeutics
What’s next
The Phase 1 STARLYS clinical trial of MST-0312 is anticipated to start in mid-2026.
The takeaway
Mestag's novel approach of targeting fibroblasts to enhance cancer immunotherapy, combined with the addition of experienced biopharma leaders, positions the company well to advance its innovative pipeline and potentially deliver impactful new treatments for patients.
