Lexeo to acquire Mantle for up to $21.3 million

• Lexeo Therapeutics (NASDAQ:LXEO) agreed to acquire Mantle Therapeutics for up to $21.3 million, adding four Friedreich ataxia programs.
• The transaction includes an $8.3 million upfront payment in cash and equity, plus up to $13 million in milestone payments.
• Lexeo stated that the acquisition expands its Friedreich ataxia pipeline with programs targeting frataxin production and protein replacement approaches.

Lexeo Therapeutics (NASDAQ:LXEO) agreed to acquire Mantle Therapeutics for up to $21.3 million to expand its Friedreich ataxia drug development portfolio.

The transaction adds four Friedreich ataxia programs to Lexeo’s pipeline, including clinical-stage oral therapy LX3010, which reported an approximately six-point improvement in mFARS scores after 16 weeks in a study of 11 patients.

Lexeo will pay $8.3 million upfront through a combination of cash and equity, with additional milestone payments of up to $13 million tied to future development progress.

The acquisition is expected to close in the third quarter of 2026 and includes preclinical programs LX3030, LX3050, and discovery-stage LX3070 focused on frataxin upregulation and protein replacement approaches.

Lexeo’s lead Friedreich ataxia program remains LX2006, with the company expecting SUNRISE-FA 2 topline data in the second half of 2027.

The company stated that new collaborations with Weill Cornell Medicine, Vivet Therapeutics, and Apertura Gene Therapy are intended to support cerebellar-targeted sequential dosing and repeat administration strategies.