Hill Dickinson is pleased to announce that its client Juvenescence Limited (Juvenescence), a British Virgin Islands-based holding company that invests in human ageing and longevity, has closed its series seed fundraising.
The company raised US $12.3 million from a range of seasoned international angel investors and institutions and two of Juvenescence’s own founders each invested US $1.5 million. Proceeds from this seed round will be used to establish new collaborations with leading academic institutions built around therapeutic candidates targeting ageing or the diseases of ageing.
Juvenescence was founded in March 2017 by Jim Mellon, Dr. Greg Bailey, Dr. Declan Doogan, Anthony Chow, and Alexander Pickett. The Juvenescence team aim to make investments in therapeutics that address ageing and age-related illnesses believing that recent scientific and medical advances will enable the development of therapeutics to extend human healthspan and eventually lifespan. In addition, Juvenescence is targeting investment opportunities in complementary businesses that will benefit as people continue to live longer.
‘This capital raise is our first step in establishing Juvenescence as one of the top biotech companies in the field of ageing and the diseases of ageing,’ said Dr. Greg Bailey CEO of Juvenescence, ‘through our team’s efforts and the support of our investors, we are assembling a comprehensive portfolio of commercially-viable therapeutic assets in the longevity sector. We look forward to taking these compounds into the clinic and making them available to the public.’
Michael Corcoran, consultant at Hill Dickinson’s London corporate team who led the transaction stated, ‘The Hill Dickinson corporate team continues to be at the fore-front of deals focused on the very latest technology and life science developments. With recent deals closed in blockchain, medical marijuana, immunotherapy, electric battery technology and now artificial intelligence focused on research and investment in longevity, we are delighted to start 2018 working with the brightest minds on the most interesting projects.’
