Mediar Therapeutics, a Cambridge, MA-based biotechnology company, raised $105M in funding.
The round was led by Novartis Venture Fund and Sofinnova Partners with participation from Pfizer Ventures, Mission BioCapital, Gimv, Pureos, Bristol Myers Squibb, Eli Lilly & Company, Ono Venture Investment and Mass General Brigham Ventures.
The company intends to use the funds to advance programs into clinical studies in 2024 with lead asset on-track to candidate nomination in Q2 2023.
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. By combining novel targets with detectable blood biomarkers and familiar modalities, the company wants to derisk the path forward for fibrosis therapies in clinical development.
Mediar is led by Chief Executive Officer Rahul Ballal, Ph.D. and Chief Scientific Officer Paul Yaworsky, Ph.D. Joining the Mediar board was Nandita Shangari, Ph.D., from Novartis Venture Fund, Maina Bhaman, MBA, from Sofinnova Partners, and Andreas Jurgeit, Ph.D., from Gimv.