Press Release

MapLight Therapeutics Closes Oversubscribed $225 Million Series C

November 3, 2023

Reston – November 3, 2023 – Cooley advised MapLight Therapeutics, a clinical-stage biopharmaceutical company working to develop targeted, novel therapies to improve the lives of people with brain disorders, on its oversubscribed $225 million Series C financing. Lawyers Christian Plaza, Matthew Schwee and David Brinton led the Cooley team advising MapLight.

The financing round included new investors – Novo Holdings, 5AM Ventures, Cowen Healthcare Investments and others – along with MapLight’s existing syndicate. Proceeds from the financing will be used to advance ML-007C-MA, a novel M1/M4 muscarinic agonist agent combined with a precision-matched peripheral muscarinic antagonist, into phase 2 trials for schizophrenia and Alzheimer’s disease psychosis in 2024, as well as enabling continued progress on MapLight’s other pipeline programs.

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