Novo-Backed MapLight Seeks $251 Million in US IPO, Placement

MapLight Therapeutics Inc., a biotechnology firm developing treatments for neurological disorders, is seeking to raise $250.8 million in an initial public offering and private placement, proceeding despite the US government shutdown complicating the listing process.

The Redwood City, California-based firm is offering 14.8 million shares for $17 each, according to its filing Monday with the US Securities and Exchange Commission. Affiliates of funds managed by Goldman Sachs Group Inc. are also expected to buy 476,707 MapLight shares at the IPO price in a private placement, the filing shows.