Juvenescence Raises $50 Million in Series A Financing
DOUGLAS, Isle of Man--(BUSINESS WIRE)--Jun 11, 2018--Juvenescence Limited, a leader in the development of therapies to slow, halt or potentially reverse aging, has successfully raised $50 million in its Series A financing. The Series A financing was oversubscribed with participation from founders, insiders, institutional investors and family offices.
Jim Mellon, Chairman of Juvenescence Limited said:
“We are delighted with the progress we have made and the faith that investors have placed in us to build a world-class company, one that we hope will lead the field in longevity science for the benefit of humanity as well as yield superb returns for our shareholders.
Our company ethos is to advance the science that will add years of healthy life to every human being, and that is exactly what we are executing on at record speed.”
Since its formation in October 2016, Juvenescence has raised USD $63 million from a variety of international investors. The company, formed by a seasoned team with a long history of collaboration, is now capitalised to advance all of its core projects. With key milestones targeted over the next 12 months, the company will review future funding requirements to advance its programs, and is currently contemplating a potential listing in 2019.
Juvenescence has built an outstanding team of researchers and drug developers, led by Dr Declan Doogan and Dr Annalisa Jenkins. The company’s partnership and licensing model targets projects where Juvenescence holds a significant interest in promising novel technologies, using its world-class team to help to shepherd these therapies towards clinical proof of concept and commercialisation.
Dr Greg Bailey, CEO of Juvenescence Limited, added:
“The team that we are assembling is remarkable for any biotech company, let alone one at this early stage of development. We have sourced a portfolio of compelling therapies, some of which we will endeavour to take into the clinic in the medium term, and others which we hope to commercialise in the nearer term. This round of financing will allow us to accelerate our licensing and partnership arrangements along with existing product development. The funding also allows us to increase the development of our AI-generated programs”.
Juvenescence’s portfolio currently includes: Insilico Medicine, a next-generation artificial intelligence company specialising in the application of deep learning to drug discovery and aging research; Juvenescence AI, a joint venture with Insilico Medicine focused on the clinical development of AI-generated compounds; NetraPharma, a joint venture using artificial intelligence to improve clinical trial design; LyGenesis, a company with technology to use a patient’s own lymph nodes as bioreactors to grow functioning ectopic organs; and AgeX Therapeutics, a company applying intellectual property related to cell immortality and pluripotency to biogerontology. In addition to the above assets, Juvenescence has signed several deals with the Buck Institute for Research on Aging, a global leader in aging research. Juvenescence is also in advanced negotiations with several other undisclosed research institutions.
Further partnerships in longevity will be announced in coming months, and the Juvenescence team will be augmented to include a full suite of relevant professionals.
About Juvenescence Limited
Juvenescence Limited is a life science and biotech company developing therapies to increase healthy human longevity. It was founded in 2016 by Jim Mellon, Dr Greg Bailey, Dr Declan Doogan, Anthony Chow, and Alexander Pickett. The Juvenescence team are highly experienced drug developers, entrepreneurs and investors with a significant history of success in the life sciences sector. Juvenescence will create, partner with or invest in new companies with aging or age-related therapeutics, by in-licensing compounds from academia and industry, or forming joint ventures to develop therapeutics for longevity.
Juvenescence believes that recent advances in science have greatly improved our understanding of the biology of aging and seeks to develop therapeutics with the possibility of slowing, halting or potentially reversing elements of aging.
Further details regarding Juvenescence and its operations and investments are set out at www.juvenescence.ltd.
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KEYWORD: EUROPE ISLE OF MAN
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SOURCE: Juvenescence Limited
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PUB: 06/11/2018 10:00 AM/DISC: 06/11/2018 10:01 AM