LENZ Therapeutics, Inc. (LENZ), a pharmaceutical company focused on ophthalmic treatments, announced that Everest Medicines (HKEX:1952) has acquired rights to develop, manufacture and commercialize VIZZ in Greater China, including mainland China, Hong Kong, SAR, Macao SAR and Taiwan.
VIZZ (aceclidine ophthalmic solution 1.44%) is the first and only aceclidine-based eye drop approved in the United States for the treatment of presbyopia, a condition that affects near vision with age. The New Drug Application for LNZ100 in China was submitted to the NMPA in September 2025, with approval anticipated in the first quarter of 2027.
Under the agreement, Everest will assume rights and obligations previously held by Corxel Pharmaceuticals, including the LENZ License Agreement signed in April 2022. LENZ is eligible to receive up to $85 million in regulatory sales milestones, along with tiered royalties ranging from mid-single digit to low double-digit percentages on net sales in Greater China. Additional payments tied to the execution of the agreement are also expected.
Yifang Wu, Chairman of the Everest Medicines, stated that the acquisition strengthens Everest's strategic focus in ophthalmology and positions LNZ100 as a differentiated asset with strong commercial potential in presbyopia treatment. He emphasized the growing patient population and unmet need for non-invasive treatment options, noting that LNZ100 could broaden the landscape of innovative ophthalmic therapies.
The agreement marks a significant step for Everest Medicines in expanding its ophthalmology portfolio, while LENZ Therapeutics secures milestone-based financial opportunities tied to the product's regulatory and commercial progress in Greater China.
LENZ has traded between $6.61 and $50.40 over the past year. The stock closed Friday (June 5, 2026) trading at $7.01, down 2.64%. In overnight trading the stock is at $7.08, up 1.00%.
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