Series B Co-led by New Investors Amplitude Ventures and ICG
MTX-474 Global Phase 2a study Initiated in Systemic Sclerosis (SSc)
MTX-463 Global Phase 2a Study in Idiopathic Pulmonary Fibrosis (IPF) Enrolling & Partnered with Lilly
MTX-439 Advancing to Phase 1 studies for Fibrosis Associated with Chronic Kidney Disease (CKD)
BOSTON, Mass., (January 7, 2026) – Mediar Therapeutics, Inc., a clinical-stage biotechnology company advancing first-in-class therapies designed to halt fibrosis, today announced an oversubscribed $76 million Series B financing co-led by Amplitude Ventures and ICG, with participation from new investors Longwood Fund, Asahi Kasei Pharma Ventures, Alexandria Real Estate Trust (ARE), and existing Series A investors. Joining the Mediar board from Amplitude Ventures is Bharat Srinivasa, PhD, and from ICG is Allan Marchington, PhD. Proceeds from the financing will further support advancement of Mediar’s wholly owned assets, including MTX-474, an antagonist of EphrinB2, being studied in a Phase 2a study in patients with systemic sclerosis (SSc), and MTX-439, a SMOC2 antagonist, proceeding to Phase 1 studies for the treatment of chronic kidney disease (CKD) associated fibrosis.
“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. “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.”
The company 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, using the validated mRSS (Modified Rodnan Skin Score) 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 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.”
“By addressing the fundamental causes of fibrosis, Mediar is paving the way for transformative clinical advances in the field,”said Allan Marchington, PhD, Head of Life Sciences at ICG. “We are proud to co-lead this financing to accelerate these vital therapies.”
“We are excited about Mediar’s unique approach to targeting fibrosis across multiple organ systems,” added Bharat Srinivasa, PhD, Principal at Amplitude Ventures. “Together, we aim to translate this deep scientific understanding into novel therapies that positively impact patient lives.”
Andreas Jurgeit, PhD, Partner in Gimv’s Life Sciences team comments: “We are proud to continue our support of Mediar following this oversubscribed USD 76 million Series B financing. Mediar is advancing three first-in-class programs targeting key drivers of fibrosis, including two global Phase 2 studies in Idiopathic Pulmonary Fibrosis (IPF) and Systemic Sclerosis (SSc), as well as a progressing Phase 1 program in Chronic Kidney Disease (CKD). We look forward to collaborating with ICG and Amplitude, who joined this round.”
The company is also finalizing an IND-enabling package for MTX-439, a SMOC2 antagonist, for the treatment of fibrosis associated with chronic kidney disease (CKD), with plans to initiate Phase 1 studies in the first half of 2026.
