Maze Therapeutics, a clinical-stage biopharmaceutical company, has announced an oversubscribed private placement of its securities, raising approximately $150.0 million in gross proceeds. The private placement includes the participation of both new and existing investors, such as Frazier Life Sciences, Deep Track Capital, Driehaus Capital Management, Janus Henderson Investors, Logos Capital, TCGX, and Venrock Healthcare Capital Partners, as well as other healthcare dedicated funds.
The private placement consists of 4,000,002 shares of common stock at a price of $16.25 per share, representing a premium to the last closing price. Additionally, certain investors purchased 5,231,090 pre-funded warrants at a purchase price of $16.249 per pre-funded warrant. The private placement is expected to close on September 12, 2025, subject to customary closing conditions.
Maze intends to use the proceeds from the private placement, along with its existing cash, cash equivalents, and short-term investments, to advance the development of MZE829 in patients with APOL1-mediated kidney disease, initiate phase 2 clinical trials of MZE782 in both phenylketonuria and chronic kidney disease, continue progress on research and discovery programs, further the development of its Compass platform, and for working capital and other general corporate purposes.
J.P. Morgan, Leerink Partners, TD Cowen, and Guggenheim Securities are acting as joint placement agents for the private placement.
Maze Therapeutics is a clinical-stage biopharmaceutical company focused on developing small molecule precision medicines for patients with kidney and metabolic diseases. Its pipeline is led by MZE829, a dual-mechanism APOL1 inhibitor in phase 2 development for APOL1-mediated kidney disease (AMKD), and MZE782, a SLC6A19 inhibitor advancing to phase 2 with the potential to treat both phenylketonuria (PKU) and chronic kidney disease (CKD). The company is headquartered in South San Francisco.
The securities being issued and sold in this private placement have not been registered under the Securities Act of 1933 and are being issued and sold in reliance on Section 4(a)(2) of the Securities Act. Maze has agreed to file a registration statement to register the resale of the securities within 60 days of the closing of the private placement. The market has reacted to these announcements by moving the company's shares 52.43% to a price of $24.42. For more information, read the company's full 8-K submission here.
