Mediar Therapeutics, a clinical-stage biotech developing first-in-class therapies designed to halt fibrosis, said it closed an oversubscribed $76 million Series B financing co-led by Amplitude Ventures and ICG as it advances a portfolio of antibody programs targeting fibrotic diseases affecting the skin, lung, and kidney.
The company said new investors in the round include Longwood Fund, Asahi Kasei Pharma Ventures, and Alexandria Real Estate Trust, alongside participation from existing Series A backers. Mediar said Bharat Srinivasa of Amplitude Ventures and Allan Marchington of ICG will join its board. Proceeds will be used to support clinical development of Mediar’s wholly owned programs, including MTX-474 in systemic sclerosis and MTX-439 for fibrosis associated with chronic kidney disease.
Mediar said it has raised a total of $175 million through its recent transactions, including a prior deal with Eli Lilly and Company related to MTX-463, which is being studied in idiopathic pulmonary fibrosis and is partnered with Lilly. The company said MTX-463 is currently enrolling patients with IPF in a global Phase 2a study.
For MTX-474, Mediar said it has initiated the EncompaSSc trial, a randomized, double-blind, placebo-controlled 24-week Phase 2a study designed to evaluate efficacy, safety, and tolerability in approximately 90 patients living with systemic sclerosis. The primary endpoint is the Modified Rodnan Skin Score, a validated measure of skin involvement in the disease.
Mediar said MTX-439, a SMOC2 antagonist for fibrosis associated with chronic kidney disease, is progressing toward Phase 1 studies, with an IND-enabling package being finalized and plans to begin Phase 1 in the first half of 2026.
KEY QUOTES:
“It has been a transformative 12 months for Mediar, from our deal with Eli Lilly and Company on MTX-463, to this oversubscribed Series B financing with leading biotech investors. With $175 million raised through these transactions, we can advance our novel anti-fibrotics through clinical studies and potentially bring life-changing therapies to patients suffering from fibrosing diseases of the skin, lung, and kidney. I would like to take this moment to thank our entire Mediar team for their dedication and demonstration that direct targeting of the myofibroblast holds promise to halt fibrosis.”
Rahul Ballal, PhD, Chief Executive Officer, Mediar Therapeutics
“The EncompaSSc study marks an important milestone in our effort to bring new treatment options to patients living with SSc. Emerging research shows that EphrinB2 signaling may contribute to the progression of fibrosis in multiple organ systems impacted by systemic sclerosis. These patients have a large unmet need, and this Phase 2a trial will allow us to evaluate MTX-474’s potential to treat patients suffering with this disease.”
Lorinda Chung, MD, MS, Global Principal Investigator, EncompaSSc Trial; Professor of Medicine and Dermatology, Stanford Medicine
“By addressing the fundamental causes of fibrosis, Mediar is paving the way for transformative clinical advances in the field. We are proud to co-lead this financing to accelerate these vital therapies.”
Allan Marchington, PhD, Head of Life Sciences, ICG
“We are excited about Mediar’s unique approach to targeting fibrosis across multiple organ systems. Together, we aim to translate this deep scientific understanding into novel therapies that positively impact patient lives.”
Bharat Srinivasa, PhD, Principal, Amplitude Ventures
