MapLight Therapeutics has announced an oversubscribed $372.5m Series D financing.
The financing was co-led by Forbion and Life Sciences at Goldman Sachs Alternatives, with participation from additional new investors, including Sanofi, accounts advised by T. Rowe Price Investment Management, Inc. and Avego BioScience Capital. The financing also included participation from MapLight’s existing investors, including funds managed by Novo Holdings, 5AM Ventures, Blue Owl Healthcare Opportunities and others.
MapLight’s lead programme, ML-007C-MA, is an oral fixed-dose combination of the investigational M1/M4 muscarinic agonist, ML-007, co-formulated with a peripherally acting anticholinergic (PAC). ML-007C-MA is designed to activate both M1 and M4 muscarinic receptors in the CNS to drive efficacy, while synchronising the pharmacokinetics of the agonist and antagonist components to mitigate peripheral cholinergic side effects.
With the financing, MapLight will advance ML-007C-MA through ongoing phase 2 trials for schizophrenia and Alzheimer’s disease psychosis. The financing will also fund the exploration of other potential indications for ML-007C-MA, as well as the continued advancement of other clinical and preclinical pipeline programmes.
“The calibre of this new investor group, combined with the continued strong support from our high-quality existing shareholders, is a testament to MapLight’s compelling vision and strategy,” said Christopher Kroeger, chief executive officer and founder of MapLight.
“This financing is a clear validation of our differentiated product pipeline, dedicated team and commitment to advancing new medicines for brain disorders that make a difference in the lives of patients and their families.”
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