A novel pentacyclic compound DDD-016 (10d) was designed and synthesized as a potential atypical antipsychotic. It was subjected to binding affinity screening against a broad panel of over 80 CNS and other receptors, monoamine transporters, and ion channels. DDD-016 exhibited high affinity for the 5-HT2A receptor (pKi = 8.7) and moderate affinity for the D2 receptor (pKi = 6.9), and acted as a full antagonist at both receptors. Compared to five marketed antipsychotics (olanzapine, clozapine, quetiapine, aripiprazole, risperidone), DDD-016 displayed a unique receptor binding profile consistent with an improved atypical antipsychotic, featuring optimal 5-HT2A affinity for alleviating negative symptoms and reducing motor side effects, balanced 5-HT1A and D1 affinity for potential cognitive benefits, and lower D2 affinity for minimizing extrapyramidal side effects. Preliminary in vivo evaluations showed that DDD-016 had high antipsychotic-like activity in the rat pre-pulse inhibition test (with negligible motor side effects at effective doses) and no significant weight gain or adverse effects in a two-week oral dose-ranging study in rats. The overall receptor binding profile and preliminary in vivo results indicate that DDD-016 is a promising improved atypical antipsychotic candidate.