DOUGLAS, Isle of Man--(BUSINESS WIRE)--Juvenescence Ltd, a biopharmaceutical company focused on modifying ageing and age-related disease, is pleased to announce the close of the first tranche of its Series B financing, in the amount of $46 million. Juvenescence intends to complete its $100 million Series B financing with the closing of a second tranche in Q1 2019. Juvenescence has now raised over $110 million in the past 15 months, which has enabled the rapid growth and development of the company’s team, its strategic relationships, and its pipeline of therapies.
Juvenescence has built a comprehensive ecosystem focused on accelerating the discovery and development of novel therapeutics that are believed to modify ageing or age-related diseases. Since the team began in the autumn of 2017, Juvenescence has built a diverse pipeline of ageing-related assets, formed joint ventures with AI companies Insilico Medicine and Netramark, acquired controlling stakes in regenerative medicine companies AgeX Therapeutics and LyGenesis, partnered on a novel senolytic, and licensed therapeutic agents from the Buck Institute for Research on Ageing.
“To have built a portfolio of compelling therapeutics, assembled a high-quality team of drug developers, scientists, and machine learning experts, and raised $110 million in the 15 months since we started Juvenescence is remarkable,” said Greg Bailey, M.D., the CEO of Juvenescence. “Our Series B financing positions Juvenescence to see all of its existing programmes through a major inflection point, to execute on all our new projects currently in diligence or early discussions, and to add more world-class scientists and drug developers to our team. We are excited by what we are building at Juvenescence.”
“The science of longevity is fast catching up with the aspiration of most people to live longer lives – and to live those lives in a healthy state,” stated Jim Mellon, Chairman of Juvenescence. “The mission of Juvenescence is to advance that very same science, deploying the significant capital raised thus far to achieve multiple shots on goal. Each of our investments targets one or more of the multiple pathways related to ageing, and we expect to round out our portfolio by the end of 2019 to reinforce Juvenescence’s role as a leader in the field and to move quickly towards commercialisation.”
About Juvenescence Limited
Juvenescence Limited is a BVI biotech company focussed on therapies to increase healthy human longevity. It was founded in 2017 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.
Juvenescence believes that the recent advances in science have greatly improved our understanding of the biology of ageing and has matured such that now is the time to apply cutting-edge techniques of drug discovery and development to develop therapeutics with the possibility of slowing, halting, or potentially reversing elements of ageing.