Sectoral Asset Management Leads $83.5M Series B Financing for LENZ Therapeutics

Choate represented Sectoral Asset Management as lead investor in an oversubscribed Series B financing for LENZ Therapeutics, a late-stage clinical company developing innovative ophthalmic pharmaceutical products that improve vision. Its lead programs, LNZ100 and LNZ101, are aceclidine-based eye drops designed to correct the loss of near vision associated with presbyopia. The proceeds from the financing enable LENZ to complete the development and registration and, pending approval, launch LNZ100/101 in the United States.

Sectoral Asset Management led the financing and was joined by new investors Alpha Wave Ventures and Point 72, as well as existing investors RA Capital Management, Versant Ventures, RTW Investments and others.