#United States #Boston #Mediar Therapeutics #Fibrosis Treatment #MTX-474

Mediar Therapeutics Secures Oversubscribed $76 Million Series B Funding

Mediar Therapeutics, a clinical-stage biotechnology company, has successfully closed an oversubscribed Series B financing round, raising a significant $76 million. This financing was co-led by new investors Amplitude Ventures and ICG, and saw participation from established names like Longwood Fund, Asahi Kasei Pharma Ventures, and Alexandria Real Estate Trust, along with support from previous Series A investors. This financial boost marks a crucial milestone for the company as it continues its mission to develop first-in-class therapies aimed at halting the progression of fibrosis, a serious medical condition characterized by the excessive accumulation of fibrous connective tissue in various organs.

As Mediar Therapeutics embarks on this new stage of growth, the company will leverage the funds to advance its promising therapeutic portfolio. At the forefront is MTX-474, an antagonist of EphrinB2, currently being studied in a Phase 2a clinical trial targeting patients diagnosed with systemic sclerosis (SSc). In addition, the company is also progressing MTX-439, a SMOC2 antagonist, into Phase 1 studies for treating fibrosis related to chronic kidney disease (CKD).

Dr. Rahul Ballal, the CEO of Mediar Therapeutics, expressed enthusiasm about this transformative year for the company. “With $175 million raised through these transactions, we can advance our novel anti-fibrotics through clinical studies, potentially offering life-changing therapies for patients battling fibrosing diseases affecting the skin, lungs, and kidneys,” said Dr. Ballal. His comments illustrate the significant impact this funding could have on developing treatments that address unreached patient needs.

Both MTX-474 and MTX-439 represent innovative approaches to fibrosis treatment. The EncompaSSc trial has recently initiated enrollment, expecting to recruit around 90 participants to evaluate the safety and efficacy of MTX-474 over a 24-week period using the Modified Rodnan Skin Score (mRSS) as the primary endpoint. Dr. Lorinda Chung, Global Principal Investigator of the trial at Stanford Medicine, highlighted the unmet medical need among patients suffering from SSc and noted the potential role of EphrinB2 signaling in the progression of this debilitating condition.

Further underscoring the importance of their research, Dr. Allan Marchington from ICG remarked that Mediar’s work is paving the way for transformative advances in clinical care. He expressed pride in co-leading the financing, which aims to accelerate the development of crucial therapies to better the lives of patients.

In parallel, MTX-439 is set to enter Phase 1 studies in 2026. It is engineered to inhibit the activity of SMOC2, a protein involved in renal fibrosis, and is already showing promising results in preclinical models. This is indicative of Mediar’s robust pipeline aimed at fundamentally addressing the causes of fibrosis across multiple organ systems.

Mediar Therapeutics is founded on a comprehensive understanding of the complexities underpinning fibrosis progression, combining innovative targets with reliable blood biomarkers. Their goal is to develop novel anti-fibrotic therapies that embody the principles of precision medicine.

At this critical juncture, Mediar Therapeutics stands poised to make significant contributions to the field of fibrotic disorders. For further details on their ongoing studies and therapies, interested parties can visit the Encompass trial website or the WISP trial website.