Maze Therapeutics raises $150 million in oversubscribed private placement

Maze Therapeutics Inc. (NASDAQ: MAZE) announced it has entered into a securities purchase agreement for a private placement that raised approximately $150 million in gross proceeds before deducting placement agent fees and other expenses.

The South San Francisco-based clinical-stage biopharmaceutical company said the private placement was oversubscribed and included participation from both new and existing investors including Frazier Life Sciences, Deep Track Capital, Driehaus Capital Management, Janus Henderson Investors, Logos Capital, TCGX, and Venrock Healthcare Capital Partners.

The placement consists of 4,000,002 shares of common stock at $16.25 per share, representing a premium to the last closing price. Certain investors purchased 5,231,090 pre-funded warrants at $16.249 per warrant, which equals the common stock purchase price minus the $0.001 exercise price. The pre-funded warrants are exercisable at any time after issuance and do not expire.

The private placement is expected to close on September 12, 2025, subject to customary closing conditions. Maze stated it intends to use the proceeds, along with existing cash and short-term investments, to advance development of MZE829 in patients with APOL1-mediated kidney disease, initiate Phase 2 clinical trials of MZE782 in phenylketonuria and chronic kidney disease, continue research and discovery programs, develop its Compass platform, and for working capital and general corporate purposes.

J.P. Morgan, Leerink Partners, TD Cowen and Guggenheim Securities served as joint placement agents. The company has agreed to file a registration statement to register the resale of the securities within 60 days of closing.

Maze develops small molecule precision medicines for patients with kidney and metabolic diseases, with a pipeline led by MZE829 and MZE782 in clinical development.

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