Juvenescence Closes $100 Million Series B Round, Plans Follow on and Incremental Investments in Longevity Drug Development
TORTOLA, British Virgin Islands--(BUSINESS WIRE)-- Juvenescence, a life sciences company utilising expert drug developers and artificial intelligence experts to create therapeutics and technologies to treat diseases of aging and to increase human longevity, is pleased to announce the successful closure of its $100 million Series B round, including a total of $10 million from its founders and a further $10 million each from four cornerstone investors, including Grok Ventures, the investment company of Mike Cannon-Brookes (Atlassian cofounder), and Michael Spencer’s private investment company, IPGL . This brings the total to $165 Million that Juvenescence has raised in 18 months and speaks to the extraordinary opportunity as well as interest in developing therapeutics with the capacity to modify aging.
Juvenescence is creating a longevity ecosystem, with world class scientists, seasoned drug developers, machine learning experts and a strong team with financial acumen to navigate this emerging new biotech growth sector and to develop 12 therapeutic candidates within the field of healthy aging.
Dr. Greg Bailey, Chief Executive Officer, commented:
“This has been such an exciting six months for Juvenescence. We have been able to add extraordinary people to the Juvenescence team who will bring our age modifying therapeutics to market. We have also augmented our team working on using machine learning for drug discovery and for drug development: culminating with closing on this $100 Million Series B financing which provides us with sufficient working capital to progress many of our programs to their initial inflection points”.
Jim Mellon, Chair of Juvenescence, commented:
“We have recruited a group of sophisticated shareholders from around the world to further our common mission of improving human healthy lifespan. Juvenescence has now raised more money that any comparable company, which is testament to the depth of our team and the range of opportunities that we have assembled, in partnership with scientist/entrepreneurs and research institutions. As the science of longevity becomes mainstream, we expect significant investor interest and at some point, we anticipate taking Juvenescence public to further accelerate our development.”
About Juvenescence Ltd.
Juvenescence Limited is a life sciences company developing therapies to increase healthy human longevity. It was founded by Jim Mellon, Dr. Greg Bailey and Dr. Declan Doogan. 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 longevity-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.
CFO, David Ellam