Lenz Therapeutics, Inc. · NASDAQ:LENZ
Lenz Therapeutics — Graphite Bio — Merger or Acquisition (November 2023)
23 slides from Lenz Therapeutics's merger presentation, Nov 15, 2023
Slide 1: Merger Announcement November 2023
Exhibit 99.2 + Merger Announcement November 2023
Slide 2: Forward-Looking Statements
Legends Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, express or implied statements regarding the structure, timing and comp
Slide 3: Merger of LENZ Therapeutics and Graphite Bio Provides ~$225M post-close cash
Merger of LENZ Therapeutics and Graphite Bio Provides anticipated post-close ~$225M cash balance to fund robust commercialization Transaction Summary • Lenz Therapeutics, a late-stage biopharmaceutical company focused on developing and commercializing innovative therapies to improve vision, intends
Slide 4: LENZ Therapeutics – well-positioned for leadership in $3B+ presbyopia market
LENZ THERAPEUTICS – well-positioned for leadership in $3B+ presbyopia market Phase 3 ongoing for exclusive, once-daily aceclidine-based eye drop with potential of providing near vision improvement during the full work day Differentiated MOA Profile Rapid and Durable Response Only miotic shown to ach
Slide 5: Management and Board
Management and Board Management: Eef Schimmelpennink Shawn Olsson Marc Odrich, MD Marv Garrett Gerald Horn, MD Melissa Rosness Kyle Casement President and CEO Chief Commercial Officer Chief Medical Officer SVP Regulatory & Senior Scientific VP CMC & Manufacturing VP Finance Quality Advisor & Founder
Slide 6: Problem: Presbyopia, the inevitable loss of near vision
Problem Presbyopia, the inevitable loss of near vision Research shows adults over 50 lose on average 1 1.5 lines of near vision per 6 years Impacts 2 ~128M People in the US Impacts over + 120M Potential $3B Market People in the US 1. Progression of Near Vision Loss and Incidence of Near Vision Impai
Slide 7: Solution: Aceclidine preservative free eye drop
Solution Aceclidine Preservative free eye drop Best-in-class potential agent for presbyopia with ability to address entire patient population 7
Slide 8: How the eye focuses light for near and distance vision, and the problem of presbyopia
How the eye focuses light for near and distance vision in the healthy eye, and the problem of presbyopia Distance vision Near vision for healthy eyes Near vision in Presbyopia The lens is in its native shape which The lens changes shape, known as The lens hardens with age, limiting enables far visio
Slide 9: Ideal presbyopia eye drop creates a pinhole pupil while avoiding a myopic shift
Ideal presbyopia eye drop creates a pinhole pupil while avoiding a myopic shift that impacts distance vision Create a pinhole pupil While avoiding a myopic shift Contracted Iris Muscle Pinhole Pupil FDA requires 3 lines of near vision improvement while not losing 1 or more lines of distance vision 9
Slide 10: Pupil diameter correlates to depth of focus and near vision improvement
Pupil diameter correlates to depth of focus and near vision improvement Total Depth-of-Focus Near Vision Improvement 2 0.6 6 2) Lighting Conditions (cd/m 20 (Dark) 5 0.5 200 (Office) 1.5 2000 (Cloudy Day) 4 0.4 Average 1 3 0.3 2 0.2 0.5 1 0.1 0 1 2 3 4 5 6 2.0 4.0 6.0 1 2 3 4 5 6 Pupil Diameter (mm)
Slide 11: Aceclidine is highly pupil-selective compared to other miotics
Aceclidine is highly pupil-selective compared to other miotics Independence ratio Ciliary muscle Iris sphincter muscle ciliary to iris EC EC (nmol/l) EC (nmol/l) 50 50 50 25,000 Longitudinal 28 Aceclidine 900 22 20,000 Circular 3,360 Longitudinal 1.9 Pilocarpine 1,800 1.6 2,840 Circular 5.4 574 Long
Slide 12: Uniquely achieving <2mm pupil without myopic shift
Uniquely achieving <2mm pupil without myopic shift Iris sphincter stimulation Corresponding ciliary stimulation -0.17 Diopters myopia 2% Aceclidine 1.40 mm 0.078 mm lens shift 0.07 mm increase lens thickness -1.3 Diopters myopia 2% Pilocarpine 1.35 mm 0.234 mm lens shift 0.2 mm increase lens thickne
Slide 13: Phase 2 INSIGHT trial compared LNZ100 and LNZ101 against vehicle
Phase 2 INSIGHT trial compared LNZ100 and LNZ101 against vehicle on key variables Study Design LNZ100 • Multicenter safety and effectiveness study 1.75% Aceclidine • 5 US Sites, 50+ Patients • Double-masked, randomized, crossover - Ready to use • Placebo controlled - Preservative Free Eye Drop • 10
Slide 14: LNZ100 and LNZ101 reduce pupil diameter <2mm for up to 10 hours
LNZ100 and LNZ101 reduce pupil diameter <2mm for up to 10 hours Pupil Size Near Vision Improvement Biomarker LNZ100 (n=49) LNZ101 (n=50) Placebo (n=51) 4.0 3.5 Average pupil size reduced to ~1.6mm at 30 minutes 3.0 Pupil size correlates to lines of near vision 2.5 improvement 2.0 2.0 2.0 Average pup
Slide 15: % of subjects with ≥3-line near vision improvement over time
% of subjects with ≥3-line near vision improvement over time No loss of 1-Line or More BCDVA LNZ100 (n=49) LNZ101 (n=50) Placebo (n=51) Extended category leadership with potential best-in-class data for efficacy and 73 73 71 duration for both LNZ100 and LNZ101 69 64 62 Rapid onset with 73% and 62% e
Slide 16: Patient satisfaction confirms commercial opportunity
Patient satisfaction confirms commercial opportunity Patient Reported Outcomes Did you notice NV improvement? 94% Achieved DCNVA 95% Noticed improvement in NV 20/40 or better If you noticed improvement, would this allow you to be less dependent on reading glasses? 87% less dependent on glasses 0% If
Slide 17: Phase 3 CLARITY trial based on INSIGHT
Phase 3 CLARITY trial based on INSIGHT Phase 2 CLARITY Started in Dec 2022 and studies running in parallel Efficacy and Safety LNZ100 • Clarity 1: LNZ101 v. LNZ100 v. Brimonidine • Clarity 2: LNZ101 v. LNZ100 v. Vehicle 1.75% Aceclidine Long Term Safety - Ready to use • Clarity 3: LNZ101 v. LNZ100 v
Slide 18: Ongoing Phase 3 trials for LNZ100 and LNZ101 tracking to 1Q24 LPLD
Ongoing Phase 3 trials for LNZ100 and LNZ101 tracking to CLARITY 1Q24 LPLD Patient Enrollment Clarity 1: 19 Sites 1 100% n=~435 Safety & Efficacy 0 20 40 60 80 100 LN100, LNZ101, Brimonidine 6 weeks Patient Enrollment Clarity 2: 15 Sites 1 n=~222 95% Safety & Efficacy 0 20 40 60 80 100 LNZ100, LNZ10
Slide 19: Presbyopia eye drops an estimated $3B US market opportunity
Presbyopia eye drops is an estimated $3B US market opportunity and impacts ~4x more people than dry eye disease Affected Population US Population Impacted 1 128M ~1.8B Global Presbyopes ~128M US Presbyopes According to American Optometric Association ~8M US Users Estimate assuming a 6% adoption rate
Slide 20: LENZ has the potential to deliver on a significant unmet need
LENZ has the potential to deliver on a significant unmet need Broad Patient Population Proven to work for most presbyopes and in broad range of ages and refractive errors Highly Significant Response Rates LNZ100 with 73% 3-line, 92% 2-line NV improvement at 30 min with +10hrs duration ECP and Consum
Slide 21: Broad exclusivity and patent protection layers
Broad exclusivity and patent protection layers FDA Granted Patents Under Exclusivity Patents Review 5 year 18 13 US 1 (Exp. 2034 - 2039) (Beyond 2039) NCE Ex-US N/A 18 70 Note: Patents include both method of use and formulation patents as of August 23, 2023. 1. Potentially eligible if approved in th
Slide 22: Global Strategy: High ex-US interest in licensing deals
Global Strategy High Ex-US interest in licensing deals Greater China Licensing Agreement in place - One of largest China Phase 2 ophthalmology deals - $15M Upfront, $15M Development milestone, $80M in Sales milestones - Royalty rates between 5 – 15% - CTA (Clinical Trial Application) approved by NMP
Slide 23: LENZ Therapeutics: Well-positioned for potential leadership in $3B+ market
LENZ Therapeutics Well-positioned for potential leadership in $3B+ market Phase 3 ongoing for exclusive, once-daily aceclidine-based eye drop with potential of providing near vision improvement during the full work day Differentiated MOA Profile Rapid and Durable Response Only miotic shown to achiev