LEXEO Therapeutics Closes $100 Million Series B Financing to Advance Clinical Stage Gene Therapy Pipeline and Enhance Preclinical Footprint
Financing led by D1 Capital Partners and Eventide Asset Management with participation from additional investors including returning Series A investors
Proceeds to support continued preclinical pipeline development in rare cardiovascular diseases and the genetics of Alzheimer’s disease; clinical development of the company’s lead programs toward meaningful data catalysts
NEW YORK, Sept. 09, 2021 (GLOBE NEWSWIRE) -- LEXEO Therapeutics, a fully integrated clinical-stage gene therapy company advancing adeno-associated virus (AAV)-mediated treatments for genetic conditions, today announced that it closed a $100 million Series B financing, led by D1 Capital Partners and Eventide Asset Management, and joined by CAM Capital, Verition Fund Management, Laurion Capital Management, Gray’s Creek Capital Partners, and existing investors Longitude Capital, Omega Funds, Lundbeckfonden Ventures, PBM Capital, Janus Henderson Investors, Woodline Partners LP, Invus Capital, and Alexandria Venture Investments.
Proceeds from the financing will support the development of LEXEO’s expanded pipeline, including recently acquired cardiac gene therapy programs and additional preclinical programs focused on the genetic causes of Alzheimer’s disease (LX1020 and LX1021). The financing will also advance the company’s three lead investigational AAV-mediated gene therapy programs through clinical development to meaningul value inflection points: LX2006, an IV-administered gene therapy for cardiomyopathy associated with Friedreich’s ataxia (FA), LX1004, a central nervous system (CNS)-administered gene therapy for CLN2 Batten disease and LX1001, a CNS-administered gene therapy for APOE4-associated Alzheimer’s disease.
“As we embark on our next phase of growth, we are highly encouraged by the support of this diverse range of long-term focused investors participating in our Series B financing,” said R. Nolan Townsend, Chief Executive Officer of LEXEO Therapeutics. “With this capital infusion, we plan to advance our clinical stage pipeline to meaningful near-term data catalysts while establishing portfolio leadership positions in cardiac gene therapy and the genetics of Alzheimer’s disease.”
Dan Sundheim, Founder of D1 Capital Partners, said, “We believe in LEXEO’s mission and are proud to invest in a company led by experts in gene therapy. We are impressed by the company’s pipeline and are delighted to support its continued growth as it strives to develop meaningful treatments for patients.”
Joy Ghosh, Senior Research Analyst at Eventide, added, “The LEXEO team is applying their expertise and innovative approaches to tackle some of the world’s most devastating genetic diseases. We are confident in their ability to advance various pipeline programs to treat both rare monogenic diseases and those affecting larger patient populations, and we look forward to partnering with Nolan and his team on this journey.”
About LEXEO Therapeutics, Inc.
LEXEO Therapeutics is a New York City-based fully integrated clinical-stage gene therapy company advancing disease-modifying treatments for genetic cardiovascular conditions and genetic conditions of the central nervous system (CNS). The company aims to apply cutting-edge science to target the underlying causes of both rare monogenic diseases and diseases affecting large patient populations. LEXEO’s current pipeline consists of adeno-associated virus (AAV)-mediated gene therapies in rare cardiac diseases, CLN2 Batten disease, and APOE4-associated Alzheimer’s disease. In addition, the company has more than 15 AAV-mediated gene therapy programs in research and development. LEXEO was founded based on a well-established gene therapy research legacy at Weill Cornell Medicine’s Department of Genetic Medicine by a team of pioneering scientists, clinicians, and business leaders with deep expertise in gene therapy. For more information, please visit www.lexeotx.com or LinkedIn.
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