MapLight Therapeutics announced an oversubscribed $372.5 million 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 strong participation from MapLight’s existing investors, including funds managed by Novo Holdings, 5AM Ventures, Blue Owl Healthcare Opportunities and others.
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MapLight’s lead program, 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 synchronizing the pharmacokinetics of the agonist and antagonist components to mitigate peripheral cholinergic side effects.
With this 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 programs.
“The caliber 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, M.D., M.B.A., 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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In connection with the financing, Nanna Lüneborg, Ph.D., M.B.A., General Partner at Forbion will join the Board of Directors of MapLight. “We see significant opportunity in ML-007C-MA as a potential best-in-class M1/M4 muscarinic agonist that is well positioned to address the substantial unmet medical need in schizophrenia, ADP and other CNS indications,” said Nanna Lüneborg.
“We are excited to partner with the outstanding team and investor syndicate at MapLight to fuel these important new innovations in the CNS space,” said Josh Richardson, M.D., Managing Director, Life Sciences at Goldman Sachs Alternatives.
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Source- PR Newswire
