June 13, 2018 Source: Fierce Biotech 162
UK-Based startup Juvenescence, the anti-aging biotech developer raised $50 million series A funding, from unspecified investors. The investment will allow it to advance on its main projects and to complete its licensing deals. The company which was founded in 2017 has raised $63 million in total.
The Isle of Man-based anti-aging biotech company is focusing on developing therapeutics for human longevity by partnering, creating, and investing in companies with anti-aging related projects. The company will start the project with joint ventures or in-licensing assets from academia or industry.
Greg Bailey, Juvenescence CEO said, "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".
He also added, “We have sourced a portfolio of compelling therapies, some of which we will endeavor to take into the clinic in the medium term and others which we hope to commercialize in the nearer term”.
Jim Mellon, Chairman Juvenescence said, “We aim to have about 20 shots on this goal—longevity science—and if we get two or three of them right, there will be a very good return to shareholders”.
Juvenescence has been the only player till now focusing on tackling human aging. Unity Biotechnology recently pulled off a $55 million series C and filed to raise up to $85 million in its IPO. The fund will set the California-based biotech to move two drugs into human testing.By Ddu
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