Legence Corp.

# Signal Note: Driehaus Initiates $29.5M Position in Legence Corp. Driehaus Capital's entry into LGN suggests conviction in Legence's clinical pipeline, likely centered on its lead program for rare/orphan indications where the growth-stage biotech has de-risking catalysts ahead. The $29.5M stake (~686k shares) represents meaningful conviction from a manager with significant biotech allocation, signaling either upcoming clinical readouts, regulatory milestones, or commercial inflection points that the growth-focused investor believes are mispriced. Near-term catalysts (Phase data, FDA feedback, or partnership announcements) should be monitored for validation of this thesis.