Lexeo Therapeutics, Inc. (Nasdaq: LXEO) announced on September 16, 2026, that it has entered into an Agreement and Plan of Merger with Mantle Therapeutics Inc. Under the terms of the agreement, Mantle will merge with and into a wholly-owned subsidiary of Lexeo, with Mantle continuing as the surviving corporation.
The transaction consideration consists of an upfront payment of $5.3 million in cash and $3.0 million in Lexeo common stock. Additionally, Mantle shareholders are eligible for up to $12.0 million in milestone payments over a 12-year period, contingent upon the achievement of specific development and regulatory milestones. The total potential value of the transaction is $21.3 million.
Mantle’s portfolio includes several therapeutic candidates focused on Friedreich ataxia (FA), including LX3010, an oral combination therapy; LX3030, a pre-clinical oral small molecule; LX3050, a recombinant human frataxin fused to an anti-TfR1 Fab; and LX3070, an ASO Fab conjugate program.
The acquisition is subject to customary closing conditions, including the receipt of requisite stockholder approval. The transaction is expected to close in the third quarter of 2026.
