Maze Therapeutics Unveils $131M IPO Plan, Advances Kidney Disease Pipeline

Maze Therapeutics, a Bay Area-based biotech company, has announced plans for a $131 million initial public offering (IPO) as it prepares to advance its lead kidney drug through clinical trials. The move comes as part of the company's strategy to bolster its financial position and accelerate the development of its innovative pipeline targeting renal, cardiovascular, and metabolic diseases.

IPO Details and Financial Outlook

Maze aims to sell 7.8 million shares priced between $15 and $17 each, according to a recent filing with the Securities and Exchange Commission. Assuming a mid-range price, the company expects to raise net proceeds of $113.6 million, potentially increasing to $131 million if underwriters fully exercise their option to purchase additional shares.

This latest fundraising effort builds upon Maze's impressive track record of securing capital. The company has previously raised nearly $500 million through various rounds, including a $191 million debut in 2019, a $190 million round in 2022, and a recent $115 million series D co-led by Frazier Life Sciences and Deep Track Capital. As of September, Maze reported just under $150 million in cash reserves. Combined with the anticipated IPO proceeds, the company projects a cash runway extending into the second half of 2027.

Advancing Key Drug Candidates

The primary focus for the IPO proceeds will be the advancement of MZE829, an oral APOL1 inhibitor being developed for APOL1 kidney disease. Maze is preparing to begin dosing patients in an ongoing phase 2 trial in the coming weeks, marking a significant milestone for the company's lead program.

Additionally, Maze is progressing MZE782, an oral SCL6A19 inhibitor currently in a phase 1 trial with healthy volunteers. The company plans to pursue this drug candidate for both chronic kidney disease and phenylketonuria, expanding its potential therapeutic applications.

Innovative Platform and Strategic Focus

At the core of Maze's approach is its proprietary Compass platform, which leverages genetic insights to identify disease-associated gene variants and uncover novel drug targets. This innovative methodology has positioned Maze as a leader in precision medicine for complex diseases, earning the company recognition in Fierce Biotech's 2019 Fierce 15 list.

Maze's strategic focus on renal, cardiovascular, and metabolic diseases aligns with significant unmet medical needs and positions the company to potentially deliver transformative therapies to patients. As the company transitions into its next phase of growth, the successful execution of its IPO and advancement of its clinical programs will be critical in establishing Maze as a key player in the biotechnology landscape.