  Quantization of closed string proceeds with a suitable choice of worldsheet
vacuum. A priori, the vacuum may be chosen independently for left-moving and
right-moving sectors. We construct {\sl ab initio} quantized bosonic string
theory with left-right asymmetric worldsheet vacuum and explore its
consequences and implications. We critically examine the validity of new vacuum
and carry out first-quantization using standard operator formalism. Remarkably,
the string spectrum consists only of a finite number of degrees of freedom:
string gravity (massless spin-two, Kalb-Ramond and dilaton fields) and two
massive spin-two Fierz-Pauli fields. The massive spin-two fields have negative
norm, opposite mass-squared, and provides a Lee-Wick type extension of string
gravity. We compute two physical observables: tree-level scattering amplitudes
and one-loop cosmological constant. Scattering amplitude of four dilatons is
shown to be a rational function of kinematic invariants, and in $D=26$
factorizes into contributions of massless spin-two and a pair of massive
spin-two fields. The string one loop partition function is shown to perfectly
agree with one loop Feynman diagram of string gravity and two massive spin-two
fields. In particular, it does not exhibit modular invariance. We critically
compare our construction with recent studies and contrast differences.
