Healthcare Industry News: HSMN NewsFeed
News Release - March 15, 2023
Mediar Therapeutics Announces $105 Million Financing to Advance Portfolio of First-in-Class Fibrosis TherapiesCompany is pioneering a novel approach by targeting fibrotic mediators that drive disease progression
Portfolio comprises three targets, each of which is measurable in plasma and correlates with disease severity
Proceeds will advance programs into clinical studies in 2024; Lead asset on-track to candidate nomination in Q2 2023
CAMBRIDGE, Mass., March 15, 2023 -- (Healthcare Sales & Marketing Network) -- Mediar Therapeutics Inc., a biotechnology company advancing a portfolio of first-in-class therapies that halt and even reverse the course of fibrosis, today announced a $105M financing, including a recent $85 million Series A round co-led by Novartis Venture Fund and Sofinnova Partners and with participation from Pfizer Ventures, Mission BioCapital, Gimv, Pureos, Bristol Myers Squibb, Eli Lilly & Company, Ono Venture Investment and Mass General Brigham Ventures. Mediar was founded on pioneering fibrosis research from Mass General and Brigham and Women's Hospitals in partnership with Mass General Brigham Ventures with the goal to transform the treatment of fibrotic disease by targeting the myofibroblast, the key cell type driving fibrosis progression. Mediar is led by industry veterans, Chief Executive Officer Rahul Ballal, Ph.D. and Chief Scientific Officer Paul Yaworsky, Ph.D. Dr. Ballal joins Mediar with nearly 20 years of experience in biotech and was most recently CEO of Imara, which recently merged with Enliven Therapeutics. Dr. Yaworsky joined Mediar in 2019 after a successful 21-year career at Pfizer, most recently serving as the COO of inflammation and immunology research. Joining the Mediar board is Nandita Shangari, Ph.D., from Novartis Venture Fund, Maina Bhaman, MBA, from Sofinnova Partners, and Andreas Jurgeit, Ph.D., from Gimv.
Mediar's portfolio comprises three novel targets that are readily detectible in blood and correlate to disease severity, enabling a de-risked approach to clinical development. The series A financing will support advancement of the company's portfolio of first-in-class antibody treatments, which offer unique potential to address fibrosis at varying stages of the disease, with two programs advancing into human studies in 2024.
"We are applying a precision approach to our fibrosis programs to improve the odds of success in human proof-of-concept studies and identify the right patients for each therapy," said Chief Executive Officer Rahul Ballal, Ph.D. "The support of this broad syndicate of investors enables us to leverage our deep insights into fibrosis pathology and drive meaningful clinical impact in the treatment landscape."
"We are particularly excited about our lead WISP-1 program, which is near candidate selection and has advanced largely through investigations in primary human preclinical systems," said Chief Scientific Officer Paul Yaworsky, Ph.D. He continued, "We are also progressing promising leads from our two other first-in-class portfolio programs into preclinical in-vivo proof-of-concept studies."
Fibrosis contributes to 45 percent of deaths in the industrialized world1 and is among the most complicated chronic pathologies due to an expansive and complex network of interwoven biological pathways. Current therapeutic approaches mainly focus on the initiators of fibrosis that modulate the underlying immune responses known to drive disease onset. However, the pursuit of these initiators may disrupt related pro-inflammatory pathways that defend the body against illness and can lead to treatment-limiting safety concerns. Mediar is focused on targeting fibrotic mediators that drive disease progression and potentially avoid the limitations of current approaches.
"Mediar brings deep research insights and a robust understanding of fibrotic disease," said Maina Bhaman, partner at Sofinnova Partners. "These strengths, coupled with a focus on pursuing unexplored pathways that drive fibrosis progression, position the company to change the way the disease is addressed and potentially achieve meaningful therapeutic impact. We are excited to have Rahul and Paul at the helm of this unique effort."
1 Friedman, SL, et al. (2013). Sci Transl Med, 5(167), 167sr1.
About Mediar Therapeutics
Mediar Therapeutics is a biotechnology company pioneering a new approach to fibrosis treatment that halts the disease at a different source – the fibrotic mediators that drive disease progression. Mediar was founded based on a deep understanding of the complex science underlying fibrosis onset and progression. By combining novel targets with reliable, easily detectable blood biomarkers and familiar modalities, Mediar is derisking the path forward for fibrosis therapies in clinical development. For more information, contact email@example.com or follow us on LinkedIn.
Source: Mediar Therapeutics
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