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 Lenz Therapeutics Completes Merger with Graphite Bio

Lenz Therapeutics Completes Merger with Graphite Bio

March 25, 2024

Lenz Therapeutics has officially completed its merger with Graphite Bio, paving the way for the newly unified entity to begin trading on the Nasdaq stock exchange. The company, retaining the name Lenz Therapeutics, marks its debut under the ticker symbol "LENZ".

Eef Schimmelpennink, the President and CEO of Lenz Therapeutics, shared his optimism about the merger's completion, stating, “Following the close of this transaction, we believe we are well-positioned to bring the opportunity of a once-daily pharmacological eye drop intended to improve near vision throughout the full workday closer to the 128 million people in the United States who are impacted by presbyopia.” He further highlighted the company's readiness to advance its clinical programs, with the anticipation of sharing topline results from the phase 3 CLARITY trials in April 2024. Success in these trials could lead to a New Drug Application (NDA) submission to the FDA by mid-year.

Progress in Presbyopia Treatment

Lenz Therapeutics is at the forefront of developing treatments for presbyopia, a common age-related vision condition. The company's leading product candidates, LNZ100 and LNZ101, are innovative preservative-free, single-use eye drops designed for once-daily use. These drops contain aceclidine, and in the case of LNZ101, a combination of aceclidine and brimonidine, aimed at improving near vision without compromising distance vision.

The company reports promising results from its phase 2 INSIGHT trial, demonstrating significant improvement in near vision among participants. The completion of the INSIGHT trial set the stage for the pivotal phase 3 CLARITY trials, which aim to further validate the efficacy and safety of LNZ100 and LNZ101.

Looking Ahead

With the last patient visits for the CLARITY trials completed in the first quarter of 2024, Lenz Therapeutics is on track to unveil phase 3 topline results next month. The forthcoming data could significantly influence the company's strategy and timelines for seeking FDA approval.

Lenz Therapeutics is not only focused on the U.S. market but also has eyes on international expansion. The company has initiated a partnership with Ji Xing for the development and commercialization of its product candidates in Greater China, illustrating its global aspirations.

As Lenz Therapeutics steps into a crucial year, the biotech community eagerly awaits the results of its CLARITY trials, which could bring new hope to millions affected by presbyopia. With a strong management team and robust financial backing, Lenz aims to deliver innovative treatments that could transform everyday life for those struggling with this common vision ailment.

About Presbyopia

Presbyopia is a natural part of the aging process of the eye, typically emerging in individuals around the age of 40. This condition is characterized by a gradual loss of the eye's ability to focus on nearby objects, a result of the hardening of the lens inside the eye, which diminishes its ability to change shape (accommodate) for focusing on close-up tasks like reading or sewing.

Symptoms often include the need to hold reading material at arm's length to see it clearly and eye strain or headaches after prolonged periods of close work. Unlike other refractive errors such as myopia (nearsightedness) or hyperopia (farsightedness), presbyopia affects everyone to a certain degree as part of the aging process, irrespective of previous vision issues.