MapLight Therapeutics Secures $373M Series D Funding for Schizophrenia and Alzheimer's Drug Development

MapLight Therapeutics has successfully raised $372.5 million in a Series D funding round, positioning the California-based biotech firm to advance its potential rival to Bristol Myers Squibb's schizophrenia treatment, Cobenfy. The substantial investment will fuel MapLight's phase 2 clinical trials for its lead candidate, ML-007C-MA, targeting both schizophrenia and Alzheimer's disease psychosis.

Funding Details and Investor Support

The Series D round was co-led by Forbion and Life Sciences at Goldman Sachs Alternatives, with significant contributions from new investors including Sanofi, Avego BioScience Capital, and accounts advised by T. Rowe Price Investment Management. Existing backers such as Novo Holdings, 5AM Ventures, and Blue Owl Healthcare Opportunities also reinforced their support, contributing to the substantial funding haul.

ML-007C-MA: A Potential Cobenfy Challenger

MapLight's ML-007C-MA is an oral fixed-dose combination of an M1/M4 muscarinic agonist and a peripherally acting anticholinergic. This approach mirrors the successful strategy employed by Karuna Therapeutics, which Bristol Myers Squibb acquired for $14 billion. The combination aims to address the adverse events associated with M1/M4 agonists, such as nausea and vomiting, by incorporating a peripheral cholinergic antagonist.

Early findings suggest that ML-007C-MA may have stronger intrinsic agonist activity against M1 and M4 receptors compared to xanomeline, the active ingredient in Cobenfy. This potential advantage has attracted significant investor interest, despite ML-007C-MA's later entry into clinical development.

Clinical Trial Progress and Competition

MapLight has recently initiated phase 2 trials for ML-007C-MA in both schizophrenia and Alzheimer's disease psychosis. These studies have primary completion dates set for 2027, indicating a prolonged development timeline. Meanwhile, Cobenfy has already secured approval for schizophrenia treatment, and BMS is expecting data from the first of three phase 3 trials in Alzheimer's psychosis later this year.

The competitive landscape in this therapeutic area remains dynamic, with recent setbacks for both Cobenfy and AbbVie's rival program. AbbVie's $8.7 billion acquisition of a potential Cobenfy competitor underscores the industry's continued interest in M1/M4 agonists, with multiple companies expressing interest in similar assets.

As MapLight progresses through its clinical trials, the pharmaceutical industry will be closely watching to see if ML-007C-MA can differentiate itself in efficacy and safety, potentially reshaping the treatment landscape for schizophrenia and Alzheimer's disease psychosis.