Mediar Therapeutics Raises $76 Million Series B to Advance Multi-Asset Fibrosis Pipeline

New updates have been reported about Mediar Therapeutics.

Mediar Therapeutics has secured an oversubscribed $76 million Series B round co-led by Amplitude Ventures and ICG, bringing total capital raised to approximately $175 million when combined with its prior Eli Lilly partnership. The new funding will support clinical advancement of Mediar’s wholly owned fibrosis portfolio, anchored by MTX-474, now in a global Phase 2a trial in systemic sclerosis (SSc), and MTX-439, which is expected to enter Phase 1 studies for chronic kidney disease (CKD)-associated fibrosis in the first half of 2026. The financing adds strategic investors including Longwood Fund, Asahi Kasei Pharma Ventures, and Alexandria Real Estate Equities alongside existing backers, and places Amplitude’s Bharat Srinivasa, PhD, and ICG’s Allan Marchington, PhD, on Mediar’s board, strengthening governance and sector expertise as the company scales. CEO Rahul Ballal, PhD, highlighted that the Lilly collaboration around MTX-463, now in a Phase 2a idiopathic pulmonary fibrosis (IPF) study, together with this Series B, materially extends Mediar’s runway to progress multiple first-in-class antibody programs targeting fibrotic diseases of the skin, lung, and kidney.

The company’s lead asset MTX-474, an EphrinB2 antagonist, is being evaluated in the EncompaSSc Phase 2a study, a 24-week randomized, double-blind, placebo-controlled global trial enrolling about 90 SSc patients, with Modified Rodnan Skin Score as the primary endpoint, positioning the program for an early read on clinical efficacy in a high-unmet-need indication. Mediar is also completing IND-enabling work for MTX-439, a SMOC2-targeting antibody designed to reduce renal fibrosis, while partner Lilly is advancing MTX-463, a WISP1-targeting antibody, into Phase 2 in IPF, expanding the clinical footprint of Mediar’s myofibroblast-centric biology across multiple organs. Collectively, these programs, backed by biomarker-driven strategies and measurable target expression correlated with disease severity, represent a diversified fibrosis platform with multiple shots on goal and potential for partnering or future late-stage financing. For executives and investors, the round materially strengthens Mediar’s balance sheet, broadens its investor base, and sets up several value-inflection points from mid-stage readouts and first-in-human data over the next 12–24 months.