On November 14, 2022, clinical-stage biopharmaceutical company MBX Biosciences announced that it has closed a $115 million Series B financing. Wellington Management led the fundraise, with participation from RA Capital Management and Norwest Venture Partners, as well as existing investors Frazier Life Sciences, New Enterprise Associates (NEA), and OrbiMed. Wilson Sonsini Goodrich & Rosati advised Norwest on the transaction.

MBX Biosciences will use the proceeds to support the company into early 2025 as it develops transformative therapeutics called Precision Endocrine Peptides, as well as the rest of the company’s preclinical pipeline. The company’s lead product candidate is MBX 2109, which is being developed to treat hypoparathyroidism and is in a Phase 1 clinical trial. In addition, proceeds will support the company’s preclinical pipeline, led by MBX 1416, and discovery programs in endocrine diseases. The company closed on its Series A financing two years ago.

The Wilson Sonsini corporate team that advised Norwest on the transaction included Dan Koeppen, Kassandra Castillo, and Bridget Balisy.

For more information, please see the MBX press release.