(RTTNews) - LENZ Therapeutics (LENZ) has entered into a stock purchase agreement with Ridgeback Capital Investments for a $30 million private investment in public equity common stock financing. The company plans to use the net proceeds from the PIPE financing, together with the existing cash, cash equivalents, and marketable securities, to support the regulatory, pre-commercial and potential commercial launch activities for LNZ100 as well as for working capital and general corporate purposes.
Eef Schimmelpennink, CEO of LENZ Therapeutics, said: "With our strong Phase 3 CLARITY data in hand and impressed by the excitement from KOLs that studied LNZ100, we are looking forward to upcoming milestones, including the submission of our NDA for LNZ100 mid-year 2024 and turning our full focus towards preparing for the potential approval and commercialization of LNZ100."
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