UK company raises $100m to find fountain of ‘eternal youth’ by cheating death and REVERSING ageing with new technology
- The firm was set up by London City of London entrepreneur Michael Spencer
- It today announced a total investment of $10 million from its founder members
- A further $10 million each will come from four cornerstone investors in the firm
- This brings the total to $165 Million that Juvenescence has raised in 18 months
The fountain of eternal youth could come in technological form thanks to $100 million investment in a life sciences company.
Juvenescence is working with drug developers and AI experts to create treatments and technologies to treat age-related diseases and to increase human longevity.
The firm, set up by London City of London entrepreneur Michael Spencer, announced a total investment of $10 million from its founders.
A further $10 million each will come from four cornerstone investors, including Grok Ventures, Mike Cannon-Brookes and Mr Spencer’s private investment company.
This brings the total to $165 Million that Juvenescence has raised in 18 months.
The fountain of eternal youth could come in technological form thanks to $100 million investment in a life sciences company. Juvenescence is working with drug developers and AI experts to create treatments and technologies to cure ageing (stock image)
Dr Greg Bailey, the firm’s CEO, said:’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’
Juvenescence 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 ageing and seeks to develop therapeutics with the possibility of slowing, halting or potentially reversing elements of ageing.
Jim Mellon, chair of Juvenescence, added: ‘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.’