Jun. 24 at 11:39 AM
$LXEO Lexeo announces partnership to develop therapies using non-viral RNA platform
Lexeo Therapeutics announced a strategic partnership to develop therapies for genetic cardiac diseases utilizing a novel non-viral RNA platform. Combined with investment of up to
$40 million from leading life-sciences investors Perceptive Xontogeny Venture Funds and venBio Partners, the partnership seeks to further revolutionize the treatment of cardiovascular diseases.
The proceeds will be used to seed a new entity, the funding of which is non-dilutive to existing Lexeo shareholders. Under the terms of the agreement, the new entity will be focused on advancing research for novel RNA-based therapeutics via non-viral delivery for the treatment of genetically mediated cardiac conditions.
Lexeo will contribute its expertise in developing cardiac genetic medicines, certain existing preclinical intellectual property, and technology, which will be combined with a novel non-viral delivery platform. As consideration for its contributions, at transaction close Lexeo has received a double-digit percentage equity position in the new entity and will be entitled to future milestone payments, royalties, and opt-in rights to certain program.
