08:27 AM EDT, 07/07/2025 (MT Newswires) -- Lenz Therapeutics ( LENZ ) and Laboratoires Thea said Monday that they signed an exclusive licensing and commercialization agreement to market LNZ100, Lenz's investigational eye drop for presbyopia, in Canada.

Under the terms of the deal, the companies said Lenz is eligible to receive over $70 million in upfront, regulatory, and commercial milestone payments, plus tiered, double-digit royalties on net sales.

Thea will hold exclusive rights to develop, manufacture, register, and commercialize LNZ100 in Canada, the companies said, adding that LNZ100 is currently under review by the US Food and Drug Administration with a decision expected by Aug. 8.

No FDA Advisory Committee meeting is planned for the application, the companies said.

Lenz shares were over 10% higher in recent premarket activity.