Mirador Therapeutics
San Diego immunology biotech from the Prometheus team; genetics-and-ML target engine, four molecules already in the clinic, >$650M raised.
1. Core Product / Service
Mirador develops antibodies for immune-mediated inflammatory and fibrotic diseases: Crohn's disease, ulcerative colitis, rheumatoid arthritis and idiopathic pulmonary fibrosis [1][2]. Its discovery engine, Mirador360, combines human genetics with data science across millions of patient molecular profiles. It is used to pick targets, find target pairs for combination or bispecific drugs, and stratify patients [1]. The launch release cites "exponential progress in machine learning" but gives no model details [1].
Clinical registry status as of 2026-10 [3][4]:
| Program | Status |
|---|---|
| MT-501, MT-201 | Phase 2 IBD platform study (NCT07113522), started 2025-06, ~140 patients |
| MT-201 | Phase 1 first-in-human (2025-10) and Phase 1 with infliximab (2026-07) |
| MT-251 (TL1A x IL-23 bispecific) | Phase 1 first-in-human, started 2026-01 (NCT07423299) |
| MT-701 | Phase 1 completed |
The company says it expects more than 10 clinical readouts by end-2027 [2]. A July 2026 law-firm note reports an exclusive license of antibody KP-301 from Kira Pharmaceuticals ($12M at signing) [5]. Whether the MT-series molecules were discovered in-house or licensed has not been disclosed.
Wet lab. In 2025 Mirador moved into a new San Diego headquarters. A contractor record describes a ~66,000 sf fit-out, roughly 75% office and 25% lab [6]; an architecture case study cites ~50,000 sf [6]. Headcount grew from about 25 at launch to more than 100 in early 2026, a single-source figure [6]. No CRO or CMO has been named publicly. The Phase 2 study recruits at US and Ukrainian sites [3].
2. Target Users & Pain Points
- Patients: IBD and fibrosis patients who respond to a single cytokine blocker only partially; Mirador's bet is on combinations and better patient selection.
- Pain addressed: heterogeneous immune diseases, where trials fail when they include non-responders. Mirador360's stated job is to pair targets and enrich trials using genetics [1].
3. Competitive Landscape
| Player | Approach | Vs. Mirador |
|---|---|---|
| Merck (via Prometheus) | Tulisokibart (TL1A) in Phase 3 | Same team's prior asset; Mirador bets on TL1A combinations |
| neumora-therapeutics | ML for patient stratification in neuropsychiatry | Similar "AI as clinical layer" model |
| xaira-therapeutics | Generative design of molecules | AI applied to the molecule rather than to the target |
| odyssey-therapeutics | Immunology small molecules and proteins | Older cohort, Phase 2 |
4. Unique Observations
- Furthest-advanced company in its cohort, but with the weakest AI weighting. Among US AI-positioned drug startups founded in 2023 or later, Mirador is the only one with a Phase 2 trial. Its AI sits at target and patient selection, not molecule design. The same pattern appeared in the 2018-2022 cohort, where the most advanced assets came from non-AI or licensed sources.
- Founding date depends on the source. SEC Form D gives 2023 as the year of incorporation, with first sales in December 2023 [7]; the company launched publicly in March 2024, and some databases list 2024.
- Office-heavy footprint. About three-quarters of the new HQ is office space, which fits a development-stage company that buys most wet work from outside vendors rather than running a discovery factory.
5. Financials / Funding
- Series A (March 2024): >$400M, led by ARCH; OrbiMed and Fairmount invested early; Fidelity, Point72, Farallon, Sanofi Ventures and others participated [1]. Form D filings total ~$413M [7].
- Series B (closed Q3 2025, disclosed 2026-01-12): $250M; new investors T. Rowe Price, Adage and Fidelity funds [2].
- Total: >$650M [2]. Third-party trackers list $735M-$900M; these figures are not confirmed. An IPO in 2026 has been reported but not confirmed.
6. People & Relationships
- Founder, Chair & CEO: Mark McKenna (former Prometheus Biosciences CEO) [1].
- Team: several former Prometheus executives (unnamed in the release) [1]; ARCH's Kristina Burow on the board.
- Investors: ARCH, OrbiMed, Fairmount, Fidelity, T. Rowe Price.
- Peers: neumora-therapeutics, valo-health, pathos-ai, eikon-therapeutics.
Sources
- [1] Mirador launch press release via BioSpace (2024-03-21; accessed 2026-10-14)
- [2] Mirador Series B press release, BusinessWire (2026-01-12; accessed 2026-10-14); Pulse 2.0 summary
- [3] ClinicalTrials.gov NCT07113522, NCT07219368, NCT07776782 (accessed 2026-10-14)
- [4] ClinicalTrials.gov NCT07423299, NCT06762457, NCT07396909 (accessed 2026-10-14)
- [5] Ropes & Gray, "Mirador Therapeutics expands precision immunology portfolio with Kira Pharmaceuticals" (2026-07; via search excerpt, accessed 2026-10-14)
- [6] PMA project record "Mirador Therapeutics TI"; Office Snapshots (2026-03-19); San Diego Business Journal (accessed 2026-10-14)
- [7] SEC Form D filings, CIK 2017193 (2024-04-03; accessed 2026-10-14)