• Mediar Therapeutics secures $76 million in Series B financing co-led by ICG
LONDON, United Kingdom – Mediar Therapeutics, a clinical-stage biotechnology company, has closed a $76 million Series B financing round, co-led by ICG’s Life Sciences team and Amplitude Ventures.
The company stated the oversubscribed funding will be used to advance its portfolio of anti-fibrotic therapies.
What is new?
ICG, a global alternative asset manager, announced on January 7 that its Life Sciences team has co-led a $76 million Series B financing for Mediar Therapeutics, Inc. The funding round for the biotechnology firm, which develops therapies designed to halt fibrosis, was oversubscribed. Amplitude Ventures also co-led the investment round.
Use of Proceeds
The proceeds from the financing are designated to support the continued clinical advancement of Mediar’s therapeutic portfolio. This includes MTX-474, an Ephrin B2 antibody entering Phase 2 clinical trials for systemic sclerosis, and MTX-463, which is in a global clinical study for idiopathic pulmonary fibrosis in collaboration with Lilly.
Funding will also support MTX-439 as it progresses toward first-in-human evaluation for fibrosis associated with chronic kidney disease. The company noted the Series B round will also enable the expansion of its platform across multiple disease areas.
Leadership and Investors
In conjunction with the financing, Dr. Allan Marchington, Head of ICG Life Sciences, and Bharat Srinivasa, PhD of Amplitude Ventures, will join the Mediar board of directors. The Series B round included participation from new investors Longwood Fund, Asahi Kasei Pharma Ventures, and Alexandria Real Estate Equities (ARE). Existing investors from the company’s Series A round also participated.
About this company
Mediar Therapeutics, Inc. is a clinical-stage biotechnology company focused on advancing first-in-class therapies designed to halt fibrosis. The company’s portfolio includes multiple drug candidates targeting conditions such as systemic sclerosis, idiopathic pulmonary fibrosis, and chronic kidney disease.
ICG is a global alternative asset manager listed on the London Stock Exchange under the ticker ICG. Its Life Sciences division invests in biotechnology and pharmaceutical companies. The firm is headquartered in London, United Kingdom.
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