RTW Venture Fund notes that LENZ Therapeutics has entered into an exclusive license agreement with Ji Xing Pharmaceuticals to develop and commercialize LNZ100 (aceclidine) and LNZ101 (aceclidine + brimonidine) for the treatment of presbyopia (the loss of reading vision due to age) in Greater China. RTW Investments, LP (the investment manager) has invested $10m on behalf of clients including RTW Venture Fund into LENZ.
LENZ is a privately-held 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 restore the loss of near vision associated with presbyopia. Presbyopia is estimated to impact almost two billion people globally and more than 120 million people in the United States.
JIXING is a biopharmaceutical company headquartered in Shanghai committed to bringing innovative science and medicines to underserved patients in China with serious and life-threatening diseases. Backed by the Investment Manager, JIXING was founded in 2019 and partners with global biotechnology companies to develop and commercialize novel, innovative therapeutics to treat unmet medical needs in cardiovascular and ophthalmic diseases. With a strong and further developing asset pipeline, seasoned management team, and patient-centric focus, JIXING is dedicated to delivering a meaningful and lasting impact on patients in Greater China.
Under the licensing agreement, LENZ will receive $15m in upfront payments and may receive up to $95m in additional payments, based on various prescribed development, regulatory and commercial milestones as well as royalty payments based on future net sales.
RTW : RTW backing Lenz Therapeutics