Rare Daily Staff
LEXEO Therapeutics, a clinical-stage gene therapy developer, said it closed a $100 million series B financing to support the development of its expanded pipeline.
D1 Capital Partners and Eventide Asset Management led the financing. 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 also participated in the round.
Proceeds will be used to advance Lexeo’s programs, which include 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 meaningful value inflection points: LX2006, an IV-administered gene therapy for cardiomyopathy associated with Friedreich’s ataxia, LX1004, a central nervous system-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, CEO 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.”
Photo: R. Nolan Townsend, CEO of LEXEO Therapeutics