Lexeo Therapeutics agrees to buy Mantle Therapeutics for up to $21.3 million

Acquired assets include a clinical-stage oral combination therapy, a preclinical CNS-penetrant small molecule, and TfR1-based brain-delivery biologics.

Cash runway guidance remains into 2028; an IND for the next FA development candidate is targeted for 2027.

Lexeo Therapeutics reached a definitive agreement to acquire Mantle Therapeutics, adding several frataxin-restoration programs targeting Friedreich ataxia neurology.

Consideration totals $8.3 million upfront in cash and equity, with up to $13 million in milestone payments in cash and equity.

Deal value could reach $21.3 million; closing is expected in the third quarter of 2026, subject to customary conditions.