Latham & Watkins Advises on US$53.5 Million Private Placement Financing in Connection With LENZ Therapeutics and Graphite Bio Merger

LENZ Therapeutics, Inc. (Nasdaq: LENZ) (LENZ or the Company), a late clinical-stage biopharmaceutical company focused on developing the first aceclidine-based eye drop that has been shown to improve near vision in people with presbyopia, has announced the completion of its previously announced merger with Graphite Bio, Inc. (previously trading on Nasdaq under the ticker symbol GRPH) (Graphite Bio). The new combined company will operate under the name LENZ Therapeutics, Inc. and will commence trading on Nasdaq under the ticker symbol “LENZ” on March 22, 2024.

Concurrent with the closing of the merger, the Company completed a private placement of US$53.5 million from a syndicate of healthcare investors led by LENZ’s existing investors and including participation from new investors.

Latham & Watkins LLP represented the placement agents in the financing, with a corporate team led by New York partners Nathan Ajiashvili and Salvatore Vanchieri, with associates Angel Marcial, Adam Picker, and Madison Venezia.