Business
Graphite Bio Reports Recent Business Progress and Second Quarter 2021 Financial Results
On track to enroll first patient in Phase 1/2 clinical trial of GPH101 for sickle cell disease in the second half of 2021 Expanded leadership team with
About this update from Lenz Therapeutics, Inc.
[{"type":"text","content":"\nOn track to enroll first patient in Phase 1/2 clinical trial of GPH101 for sickle cell disease in the second half of 2021\n\nExpanded leadership team with hiring of CSO and three new appointments to board of directors\n\nCompleted upsized initial public offering of common stock, raising $273.7 million in gross proceeds\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nGraphite Bio, Inc. (Nasdaq: GRPH), a clinical-stage, next-generation gene editing company harnessing high-efficiency precision gene correction to treat or cure serious diseases, today reported recent business progress and second quarter 2021 financial results.\n\n“This has been a transformational period for Graphite Bio as we advance our next-generation gene editing platform to precisely find and replace any gene in the genome. We have built an outstanding team of experienced industry leaders and, with our recent initial public offering, are well-resourced to advance our pipeline into clinical development, led by GPH101, a highly differentiated gene correction approach for sickle cell disease,” said Josh Lehrer, M.Phil., M.D., chief executive officer of Graphite Bio. “We are focused on executing on our mission to develop potential one-time cures for patients who have a wide range of serious and life-threatening diseases, starting with sickle cell. We remain on track to enroll the first patient in our Phase 1/2 clinical trial of GPH101 in the second half of 2021, with initial proof-of-concept data expected by the end of 2022.”\n\nRecent Highlights\n\n\nCompleted an upsized initial public offering (IPO) of 16,100,000 shares of common stock, including full exercise of the underwriters’ option to purchase additional shares, resulting in aggregate gross proceeds of $273.7 million, before deducting underwriting discounts and commissions and other offering expenses.\n\n\nExpanded the company’s executive team with the hiring of Jane Grogan, Ph.D., a renowned scientific leader and drug developer in the fields of immunology, oncology and cell therapy, as chief scientific officer. Dr. Grogan leads the company’s research and early development efforts, including the company’s strategy to combine its gene editing technology with novel non-genotoxic hematopoietic stem cell-targeted conditioning regimens.\n\n\nAppointed to the company’s board of directors Dr. Kristen Hege, Smi...