We were interested to learn that Juvenescence Limited, a biotech and development company involved in the development of therapies that target the aging processes, has successfully raised $50 million in a series A financing round.
Jim Mellon, the 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.”
Juvenescence has raised $63 million from various international investors since its creation in October 2016 and is now moving forward with a number of key projects. The company is comprised of a number of industry leaders in business as well as a solid scientific team led by Dr. Declan Doogan and Dr. Annalisa Jenkins.
Juvenescence has a varied portfolio that includes the following:
Insilico Medicine, which is using deep learning for drug discovery and aging research. Together, they are working on Juvenescence AI, a venture that focuses on the development of drugs that have been discovered using deep learning.
NetraPharm, another AI-based venture that uses deep learning to improve clinical trial design, reduce costs, and improve success rates.
Lygenesis, a company working on using a patient’s own lymph nodes as bioreactors to grow functioning ectopic organs. This company’s current target is the liver, and it focuses on helping patients with end-stage liver disease.
AgeX Therapeutics, a company developing regenerative therapies that use telomerase and cellular reprogramming to encourage regeneration of tissues and organs.
Juvenescence has also made a number of deals with the Buck Institute for Research on Aging and is rumored to be in negotiations with a number of other research institutions.
The influx of money into the aging research field, especially money focused on developing therapies that target the aging processes, is very welcome. Jim Mellon has long been supportive of developing these technologies and considers rejuvenation biotechnology to be the next money fountain.
There is a valley of death between the new therapies being developed in the lab and the marketplace, and, all too often, biotech companies with novel new therapies can fall foul of it. Let us hope that Juvenescence stays true to its mission statement and plays an active role in helping new technologies reach the market and that it does not simply sit back and wait for the cream of the crop to rise to the top and skim off the most promising.
That said, money attracts money, so this is, in general, good news for the industry as a whole.