LENZ Therapeutics Raises $83.5 Million to Revolutionize Presbyopia Treatments with LNZ100 and LNZ101

LENZ Therapeutics, a biopharmaceutical company with two late-clinical stage programs, LNZ100 (aceclidine) and LNZ101 (aceclidine and brimonidine) that could be potential best-in-class therapies for presbyopia, has successfully raised $83.5 million in its oversubscribed Series B financing. The round was headed by new investor Sectoral Asset Management, with strong support from Alpha Wave Ventures and Point 72, as well as existing investors RA Capital Management, Versant Ventures, RTW Investments and others.

LENZ Inc. recently announced the close of a financing round, with Stefan Larson, Ph.D., Partner at Sectoral Asset Management, and Chris Dimitropoulos, Managing Director, Alpha Wave Global, joining the company’s Board of Directors. This investment will allow the company to further expand its operations and develop new products.

LENZ is making strides with its Phase 3 CLARITY program, which launched in December 2022. The trials, I, II and III, are designed to assess the safety and efficacy of its two once-daily eye drops, LNZ100 and LNZ101, in treating presbyopia-related vision loss. The double-masked, randomized, US-based multi-center trials are enrolling a broad patient population, making this a milestone in the quest to restore near vision.

The ultimate measure of success for this trial is the percentage of patients who experience a three-line improvement in near visual acuity without sacrificing anyThe primary efficacy endpoint is the percentage of patients who gain three lines of improvement in near visual acuity without losing one line of distance vision.

The CLARITY trials have officially been launched following the encouraging topline data from the company’s Phase 2 INSIGHT clinical trial. Both LNZ100 and LNZ101 showed remarkable results, with a three-line or greater improvement compared to vehicle across all timepoints up to 10 hours. The average pupil size of 1.5-2mm served as an indicator of efficacy, while patient feedback indicated that both formulations were well-tolerated, with no serious drug-related adverse events.

LENZ is delighted to have gathered a powerful group of investors to help bring a product to the market that can effectively improve near vision in presbyopic individuals and last throughout the work day. The enthusiasm for our funding speaks to the potential of an eye drop remedy for presbyopia, and we are thrilled to be at the forefront of this innovative solution.

Stefan Larson is thrilled to be supporting LENZ as they make incredible strides towards bringing a therapeutic option for presbyopia to the public. Their lead products, LNZ100 and LNZ101, are currently in the midst of Phase 3 trials and are on the path to potential approval and commercialization. This is an exciting development for those suffering from presbyopia!

“At Longitude, we are excited to be part of the success story of LENZ’s eye drops, a breakthrough development in the treatment of presbyopia. We are confident that the CLARITY trials will be successful and that the millions of people affected by this condition will soon have access to the relief they need. We are proud to support LENZ in their progress towards potential approval and launch.”

About LNZ100 (aceclidine) and LNZ101 (aceclidine + brimonidine)

Aceclidine is a revolutionary small molecule acetylcholine receptor agonist, allowing vision to be improved with a simple pinhole effect. Unlike other vision-correction treatments, aceclidine’s unique mechanism of action creates a pinhole pupil effect without the myopic shift that can impair distance vision. In other words, you can see near and far with aceclidine!

Aceclidine has the potential to revolutionize the world of ophthalmology, with its innovative pupil-selective mechanism of action (MOA) that decouples miosis from myopic shift. This groundbreaking approach promises to open up the possibility of effective treatment for the widest range of patients.

About LENZ Therapeutics

LENZ Therapeutics is a late-stage clinical company with a mission to improve vision through innovative ophthalmic pharmaceutical products. Their lead programs, LNZ100 and LNZ101, are aceclidine-based eye drops designed to correct presbyopia, a condition estimated to affect two billion people worldwide and more than 120 million in the United States. Headquartered in San Diego, LENZ is backed by venture capital investors, including RA Capital, Alpha Wave Ventures, Versant Ventures, Point 72Asset Management, Sectoral Asset Management, and RTW Investments.

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