DALLAS (September 15, 2026) – Holland & Knight represented Saol Therapeutics, a privately held, clinical-stage pharmaceutical company, in its definitive agreement under which funds managed by Oaktree Capital Management will provide up to $115 million in milestone-based capital, with an initial tranche funding near-term launch readiness and the remainder released as milestones are met. The transaction closed on September 11.
The funds will support launch preparation for SL1009 (sodium dichloroacetate, or DCA), Saol's investigational candidate in development for pyruvate dehydrogenase complex deficiency (PDCD), a rare, life-threatening mitochondrial disease with no U.S. Food and Drug Administration (FDA)-approved therapies. Additional capital, released upon achievement of specified regulatory, clinical and commercial milestones, would support life cycle opportunities for Saol's portfolio, including development of SL1009 for congenital lactic acidosis (CLA) and expansion of SL1002 into additional pain indications and spasticity.
Holland & Knight Partner Arthur Lotz (Financial Services) led the Firm's representation of Saol with Associates Amir Saboorian and Ana Carvajal (Financial Services); Partner Brandon Bloom, Consulting Counsel John Cohn and Associate Courtney Wagner (Tax); and Partner Sara Klock (FDA Regulatory).