Ronald Crys­tal's Lex­eo Ther­a­peu­tics pulls in a $100M megaround just nine months af­ter launch

About a month af­ter Lex­eo Ther­a­peu­tics ac­quired Ste­lios Ther­a­peu­tics — bring­ing its 18-pro­gram gene ther­a­py pipeline to 21 — in­vestors are reach­ing a lit­tle deep­er in­to their pock­ets to en­sure the New York City-based biotech is up to the task.

Lex­eo un­veiled a $100 mil­lion Se­ries B round on Thurs­day morn­ing, led by D1 Cap­i­tal Part­ners and Even­tide As­set Man­age­ment. The funds will be used to sup­port the com­pa­ny’s “next phase of growth,” ac­cord­ing to CEO Nolan Townsend, with a spe­cif­ic fo­cus on three lead­ing gene ther­a­pies — one for CLN2 Bat­ten dis­ease, one for Alzheimer’s, and one for a rare con­di­tion called Friedre­ich’s atax­ia.

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