Lexeo Therapeutics Enters Into Agreement To Develop Therapies For Genetic Cardiac Diseases

(RTTNews) - Lexeo Therapeutics, Inc. (LXEO), Tuesday announced a partnership with Perceptive Xontogeny Venture Funds and venBio Partners to develop therapies for genetic cardiac diseases utilizing a novel non-viral RNA platform.

The investment, totaling upto $40 million, will help to launch a new entity, which will entirely focus on advancing research for novel RNA-based therapeutics via non-viral delivery for the treatment of genetically mediated cardiac conditions.

Under the deal, the New York City-based company will share its expertise in developing cardiac genetic medicines, certain existing preclinical intellectual property, and technology, which will be integrated with a novel non-viral delivery platform.

Notably, the funding for the new entity will be non-dilutive to existing Lexeo shareholders.

In the pre-market hours, LXEO is trading at $4.1, up 3.54 percent on the Nasdaq.