Maze Therapeutics Secures $150M Financing to Fund Pipeline Through 2029
Maze Therapeutics offered 5.54 million shares at $23.50 and 850,000 pre-funded warrants at $23.499, raising $150 million in gross proceeds. The company will allocate net proceeds to advance Phase 2 assets MZE829 and MZE782 and expects cash to fund operations into 2029.
1. Offering Details
Maze Therapeutics priced an underwritten registered offering of 5,540,000 common shares at $23.50 per share alongside pre-funded warrants for 850,000 shares at $23.499, generating $150 million in gross proceeds before discounts and expenses. The offering is set to close on April 23, 2026, subject to customary closing conditions.
2. Investor Participation and Underwriting
Participation in the transaction includes new and existing institutional investors such as Farallon Capital Management, accounts advised by T. Rowe Price Investment Management, Frazier Life Sciences, Janus Henderson Investors, Deep Track Capital, and Driehaus Capital Management. Leerink Partners LLC served as the sole underwriter, managing the syndicate and distribution of the securities.
3. Use of Proceeds and Runway
Maze intends to deploy net proceeds primarily to advance clinical development of MZE829 for APOL1-mediated kidney disease and MZE782 for phenylketonuria and chronic kidney disease, alongside general corporate purposes. Combined with existing cash and marketable securities, this financing is expected to extend the company’s runway into 2029 based on the current business plan.