On October 30, 2023, MapLight Therapeutics, a clinical-stage biopharmaceutical company working to develop targeted, novel therapeutics to improve the lives of people with brain disorders, announced a $225 million Series C financing co-led by Novo Holdings, 5AM Ventures, Cowen Healthcare Investments, and other investors. Wilson Sonsini Goodrich & Rosati advised Novo Holdings on the financing.

The additional financing will 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 and enable continued progress on the company's other pipeline programs. In connection with the financing, Jim Trenkle, Ph.D., MBA, Partner in the Venture Investments group at Novo Holdings, will join the MapLight Therapeutics Board of Directors.

Novo Holdings is responsible for managing the assets of Novo Nordisk Foundation, which seeks to improve people’s health and the sustainability of society and the planet. The firm invests in life sciences companies and is an asset manager.

The Wilson Sonsini team that advised Novo Holdings on the transaction includes:

Corporate
Dan Koeppen
Kassandra Castillo
Bridget Balisy

Patents and Innovations
Maya Skubatch
Greg Mitchell
Feng Tian
Trevor Lyons

Regulatory and Compliance
Stephen Heifetz
Jonathan Davey

For more information, please see MapLight Therapeutics' news release. Additional coverage can be found on FinSMEs.