On August 5, 2024, MBX Biosciences, Inc., a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders, announced a $63.5 million Series C financing. The financing was led by Deep Track Capital, with participation from new investors Driehaus Capital Management and funds and accounts advised by T. Rowe Price Associates, Inc., as well as existing investors Frazier Life Sciences, OrbiMed, and Wellington Management, complementing the company’s existing investor base, including New Enterprise Associates (NEA), Norwest Venture Partners, and RA Capital Management. Wilson Sonsini Goodrich & Rosati represents MBX Biosciences on patent matters, and advised the company on patent matters related to this Series C financing.

The proceeds from the transaction are expected to support MBX Biosciences into 2026 and past key data read-outs from the company’s pipeline. The Phase 2 clinical trial of MBX 2109, the company’s parathyroid hormone peptide prodrug, in patients with hypoparathyroidism was recently initiated and topline results are expected in the third quarter of 2025. MBX 1416, the company’s product candidate for post-bariatric hypoglycemia, is currently being evaluated in a Phase 1 single and multiple ascending dose trial, which is expected to report topline data in the fourth quarter of 2024. MBX also has a portfolio of early-stage candidates in obesity and metabolic disease, including MBX 4291, a long-acting GLP-1/GIP receptor co-agonist prodrug currently in IND-enabling studies.

The Wilson Sonsini team was led by Uale Taotafa and included Nima Zargari, Jose Martinez, T.J. O’Connor, and Mike Hostetler.

For more information, please see MBX Biosciences’ news release.