Lexeo Therapeutics, a Phase 1 biotech developing gene therapies for cardio and neuro diseases, raised $100 million by offering 9.1 million shares at $11, below the range of $13 to $15. The company offered 91 thousand more shares than anticipated.
Lexeo Therapeutics is a genetic medicine company focused on fundamentally changing how disease is treated by pioneering science. The company's most advanced cardiovascular candidate, LX2006, is being developed for Friedreich's ataxia cardiomyopathy and is currently being evaluated in an ongoing Phase 1/2 trial. It expects to report additional interim data from this trial in mid-2024. Lexeo's lead Alzheimer's disease candidate, LX1001, is being developed for the treatment of APOE4 homozygous patients with Alzheimer's disease and is in an ongoing Phase 1/2 trial. It expects to complete enrollment in the trial by the end of 2023 and report additional interim data from all cohorts in the 2H24.
Lexeo Therapeutics plans to list on the Nasdaq under the symbol LXEO. J.P. Morgan, Leerink Partners, Stifel, and RBC Capital Markets acted as joint bookrunners on the deal.
