Mediar Therapeutics Secures $76 Million Series B to Advance First-in-Class Anti-Fibrotic Pipeline
Key Insights
Mediar Therapeutics (search) raised an oversubscribed $76 million Series B financing co-led by Amplitude Ventures (search) and ICG (search) to advance its first-in-class anti-fibrotic therapies targeting myofibroblasts.
The company initiated the EncompaSSc Phase 2a trial evaluating MTX-474 in approximately 90 systemic sclerosis (search) patients, using the Modified Rodnan Skin Score as the primary endpoint.
MTX-439 (search), a SMOC2 (search) antagonist for chronic kidney disease (search)-associated fibrosis (search), is advancing to Phase 1 studies planned for the first half of 2026.
Mediar Therapeutics (search) announced an oversubscribed $76 million Series B financing round co-led by Amplitude Ventures (search) and ICG (search), marking a significant milestone for the clinical-stage biotechnology company developing first-in-class therapies designed to halt fibrosis (search). The financing included participation from new investors Longwood Fund, Asahi Kasei Pharma Ventures, Alexandria Real Estate Trust (ARE), and existing Series A investors.
The funding will support advancement of Mediar's wholly owned assets, including MTX-474, an EphrinB2 (search) antagonist being studied in a Phase 2a trial for systemic sclerosis (search) (SSc), and MTX-439 (search), a SMOC2 (search) antagonist proceeding to Phase 1 studies for chronic kidney disease (search) (CKD)-associated fibrosis (search).
"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," said Rahul Ballal, PhD, Chief Executive Officer of Mediar Therapeutics (search). "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."
Phase 2a Trial Launches for Systemic Sclerosis
Mediar has initiated the EncompaSSc trial, a randomized, double-blinded, placebo-controlled 24-week Phase 2a study designed to evaluate the efficacy, safety, and tolerability of MTX-474 in approximately 90 patients living with SSc. The study uses the validated Modified Rodnan Skin Score (mRSS) tool as the primary endpoint.
"The EncompaSSc study marks an important milestone in our effort to bring new treatment options to patients living with SSc," said Lorinda Chung, MD, MS, Global Principal Investigator of the trial and professor of Medicine and Dermatology at Stanford Medicine. "Emerging research shows that EphrinB2 (search) signaling may contribute to the progression of fibrosis (search) in multiple organ systems impacted by systemic sclerosis (search). 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."
Novel Mechanism of Action
MTX-474 is a first-in-class human IgG1 antibody designed to neutralize EphrinB2 (search) signaling that causes the onset and progression of fibrosis (search). Ephrin ligands and Eph receptors mediate biological processes involved in tissue fibrosis including cell migration, myofibroblast activation, and tissue remodeling. A growing body of evidence has implicated EphrinB2 in the fibrosis of the skin, lungs, and heart. Expression of EphrinB2 and its receptors are measurable in human blood and correlates with disease severity.
Expanding Pipeline Across Multiple Fibrotic Conditions
The company is also advancing MTX-439 (search), a first-in-class human IgG1 antibody engineered to inhibit the activity of SPARC-related modular calcium-binding protein 2 (SMOC2 (search)). SMOC2 has been shown to promote extracellular matrix assembly and cell adhesiveness and is a driver of renal fibrosis (search). SMOC2 levels are elevated in patients with chronic kidney disease (search), both in the tissue and in circulation. MTX-439 selectively binds to SMOC2 and neutralizes its activity, significantly reducing fibrosis in multiple preclinical models.
Mediar is finalizing an IND-enabling package for MTX-439 (search) for the treatment of fibrosis (search) associated with chronic kidney disease (search), with plans to initiate Phase 1 studies in the first half of 2026.
Additionally, MTX-463, a first-in-class human IgG1 antibody developed against WNT1-inducible signaling pathway protein-1 (WISP1 (search)), is currently in a Phase 2 study for idiopathic pulmonary fibrosis (search) (IPF) in partnership with Eli Lilly and Company. WISP1 is a secreted matricellular protein shown to have a relevant role in fibrosis (search) progression, is measurable in human blood, and correlates with disease severity.
Investor Confidence in Anti-Fibrotic Approach
"By addressing the fundamental causes of fibrosis (search), Mediar is paving the way for transformative clinical advances in the field," said Allan Marchington, PhD, Head of Life Sciences at ICG (search). "We are proud to co-lead this financing to accelerate these vital therapies."
"We are excited about Mediar's unique approach to targeting fibrosis (search) across multiple organ systems," added Bharat Srinivasa, PhD, Principal at Amplitude Ventures (search). "Together, we aim to translate this deep scientific understanding into novel therapies that positively impact patient lives."
Mediar Therapeutics (search) is pioneering a new approach to fibrosis (search) treatment that aims to halt the disease at a different source – the myofibroblast, the key pathogenic cell in fibrosis that drives scarring, disease progression, and ultimately organ failure. The company combines novel targets with reliable, easily detectable blood biomarkers and familiar modalities to develop anti-fibrotic therapies with a potential precision medicine approach.