SCHEDULE 13G: Frazier Life Sciences Funds Disclose Significant Stake in Maze Therapeutics Post-IPO

Sentiment:

Beneficial Ownership Report 10 February 2025 3:55 PM

Frazier Life Sciences and its affiliated funds, along with key individuals, have disclosed beneficial ownership of up to 7.3% of Maze Therapeutics, Inc.'s common stock following the company's recent initial public offering.

Capital raiseThe beneficial ownership percentages are calculated based on 43,776,978 shares of Common Stock anticipated to be outstanding following Maze Therapeutics, Inc.'s initial public offering (IPO).The Issuer's Rule 424(b)(4) Prospectus, related to the IPO, was filed with the SEC on January 31, 2025, indicating a recent capital raise event.

Summary

Frazier Life Sciences Public Fund, L.P., along with its general partners FHMLSP, L.P. and FHMLSP, L.L.C., collectively reported beneficial ownership of 2,376,329 shares, representing 5.4% of Maze Therapeutics, Inc.'s common stock.
Frazier Life Sciences Public Overage Fund, L.P., and its related entities FHMLSP Overage, L.P. and FHMLSP Overage, L.L.C., disclosed beneficial ownership of 701,164 shares, equating to 1.6% of the common stock.
Frazier Life Sciences X, L.P., and its associated entities FHMLS X, L.P. and FHMLS X, L.L.C., reported beneficial ownership of 41,719 shares, or 0.1% of the common stock.
Frazier Life Sciences XI, L.P., and its related entities FHMLS XI, L.P. and FHMLS XI, L.L.C., disclosed beneficial ownership of 74,688 shares, representing 0.2% of the common stock.
Individual members of the managing LLCs, including James N. Topper and Patrick J. Heron, each reported shared voting and dispositive power over an aggregate of 3,193,900 shares, representing 7.3% of the common stock.
Albert Cha and James Brush each reported shared voting and dispositive power over an aggregate of 3,077,493 shares, representing 7.0% of the common stock.
Daniel Estes reported shared voting and dispositive power over 74,688 shares, representing 0.2% of the common stock.
The percentages of ownership are calculated based on 43,776,978 shares of Common Stock anticipated to be outstanding following Maze Therapeutics, Inc.'s initial public offering, as detailed in the Issuer's Rule 424(b)(4) Prospectus filed on January 31, 2025.
The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely related to a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: Neutral, as this is a factual disclosure of beneficial ownership and does not contain performance or forward-looking statements that would indicate positive or negative sentiment.

Future Outlook

Industry Context

Maze Therapeutics, Inc. operates within the biotechnology and life sciences sector. This filing indicates significant institutional investment from Frazier Life Sciences, a prominent firm specializing in this industry, suggesting a vote of confidence from a sector-focused investor following the company's recent initial public offering.

Related Party Transactions

The filing details a complex ownership structure where various Frazier Life Sciences funds (Frazier Life Sciences Public Fund, L.P., Frazier Life Sciences Public Overage Fund, L.P., Frazier Life Sciences X, L.P., and Frazier Life Sciences XI, L.P.) are managed by general partners (FHMLSP, L.P., FHMLSP Overage, L.P., FHMLS X, L.P., FHMLS XI, L.P.) which are, in turn, managed by their respective LLCs (FHMLSP, L.L.C., FHMLSP Overage, L.L.C., FHMLS X, L.L.C., FHMLS XI, L.L.C.).
Key individuals Patrick J. Heron, James N. Topper, Albert Cha, James Brush, and Daniel Estes are members of these managing LLCs, and therefore share voting and investment power over the shares held by the respective funds, establishing a clear related-party structure for the reported beneficial ownership.

Stakeholder Impact

Shareholders: The disclosure of significant institutional ownership by Frazier Life Sciences provides transparency regarding the company's investor base and indicates a notable institutional commitment to Maze Therapeutics post-IPO.
Company Management: The presence of a significant institutional holder like Frazier Life Sciences may influence strategic considerations, although the filing explicitly states the shares were not acquired for the purpose of changing or influencing control.

Key Dates

Date	Description
01/31/2025	Issuer's Rule 424(b)(4) Prospectus filed with the SEC, detailing anticipated shares outstanding following the initial public offering.
02/03/2025	Date of the event which required the filing of this Schedule 13G statement.
02/10/2025	Filing date of the Schedule 13G statement with the SEC.

Keywords

Maze Therapeutics, Frazier Life Sciences, Schedule 13G, Beneficial Ownership, Common Stock, IPO, Biotechnology, Life Sciences, Institutional Investor

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