What's Happening?
Mediar Therapeutics, a biotechnology company focused on developing therapies for fibrosis, has announced the successful completion of a $76 million Series B financing round. The funding, co-led by Amplitude
Ventures and ICG, will support the advancement of Mediar's fibrosis treatment portfolio, including MTX-474 and MTX-439. MTX-474, an antagonist of EphrinB2, is currently in a Phase 2a study for systemic sclerosis (SSc), while MTX-439, a SMOC2 antagonist, is set to enter Phase 1 studies for chronic kidney disease-associated fibrosis. The financing will enable Mediar to further develop these therapies, which aim to halt fibrosis progression by targeting the myofibroblast, a key cell in fibrosis.
Why It's Important?
The successful financing round highlights the growing interest and investment in fibrosis treatment, a field with significant unmet medical needs. Fibrosis, which can affect multiple organs, leads to scarring and organ failure, and current treatment options are limited. Mediar's approach, which targets the underlying causes of fibrosis, has the potential to offer more effective treatments for patients. The advancement of MTX-474 and MTX-439 could lead to new therapies that improve outcomes for patients with fibrosing diseases, addressing a critical gap in the current treatment landscape.
What's Next?
With the new funding, Mediar Therapeutics plans to continue the clinical development of its fibrosis treatment candidates. The company will focus on advancing MTX-474 through its Phase 2a trial and initiating Phase 1 studies for MTX-439. These efforts will be crucial in determining the efficacy and safety of these therapies, potentially leading to regulatory approval and commercialization. Additionally, Mediar may explore further collaborations and partnerships to expand its research and development capabilities.
