By: IPP Bureau
Last updated : June 13, 2025 12:04 pm
Mezzion Pharma (Mezzion) announced a milestone in their clinical development program, having secured approximately $20 million in strategic funding to support the ongoing global Phase 3 FUEL-2 trial of udenafil for patients with Fontan circulation.
The financing was led by Midas-Meritz New Technology Finance Association and KDBC-Korea Investment & Securities New Technology Investment Association, representing confidence from institutional investors in Mezzion's late-stage pipeline and long-term strategy.
"We are pleased to partner with Midas Private Equity (Midas PE) and KDBC as we enter a critical phase in the development of udenafil for the Fontan population, a community with unmet medical need," said Dean Park, Chairman and CEO of Mezzion. "This investment affirms the strength of our data, the quality of our science, and the potential impact of our work on patients."
Midas PE, the lead investor, is a private equity firm with over $230 million in assets under management. CEO Lim Chun-soo expressed confidence in Mezzion's direction:
"After a review of Mezzion's FUEL-1 results and the FUEL-2 protocol, we believe udenafil is positioned for successful Phase 3 completion and regulatory approval. We are proud to support Mezzion as it expands and continues its work in rare disease innovation."
This financing follows growing clinical and regulatory progress for Mezzion. The introduction of ICD-10 codes for Fontan-associated conditions marks a step forward in recognizing and addressing the needs of this population. It enhances care, improves coverage, and underscores Mezzion's commitment to advancing treatment for congenital heart disease.
Chairman Park added, "With accelerating enrollment and growing engagement across clinical sites, we believe time and data are now working in our favor. We have initially secured $20 million, and we will continue efforts to receive further investments."