Juvenescence Secures $76 Million in Series B-1 Financing
Juvenescence Secures Significant Funding for Innovative Therapies
Juvenescence Limited, a cutting-edge clinical-stage biotech company, has successfully closed the first tranche of its Series B-1 financing, raising an impressive $76 million. This investment round is notably led by the Abu Dhabi firm M42, marking a major milestone in Juvenescence's journey to innovate treatments aimed at age-related diseases.
A Strategic Partnership with M42
The funding comes alongside an announcement detailing a strategic partnership between Juvenescence and M42. This collaboration focuses on integrating advanced artificial intelligence into drug discovery, showcasing a joint commitment to pioneering new therapeutic developments.
Goals of the Funding
With the initial tranche secured, Juvenescence aims to finalize the financing by the end of the third quarter of the upcoming year. The funds acquired will bolster the company’s clinical pipeline, allowing it to push forward with crucial developments in therapeutics aimed at combating age-related degenerative conditions.
Transformative Impact on Drug Development
The partnership with M42 is designed to harness deep expertise in digital health and biotechnology. By fusing Juvenescence’s innovative AI-driven discovery processes with M42’s extensive clinical trial capabilities, this collaboration has great potential to accelerate the entire drug development lifecycle.
Insights from Leadership
Dr. Richard Marshall CBE, CEO of Juvenescence, expressed enthusiasm about the partnership, stating that it represents a significant opportunity for both organizations to address pressing health issues through medical innovation. He emphasized the potential for creating a world-class drug development hub in Abu Dhabi, benefiting patients globally.
In a related statement, Dr. Fahed Al Marzooqi, CEO of M42’s Integrated Health Solutions platform, noted that this partnership is a pivotal step towards transforming healthcare. By merging AI advancements with biotechnology, they plan to redefine approaches in battling age-related diseases and improve overall health outcomes for individuals.
About Juvenescence
Juvenescence is dedicated to developing pioneering medicines that aim to extend healthy lifespans. Their innovative strategies focus on targeting the fundamental mechanisms of aging, intending to both treat and prevent conditions related to age.
The company was co-founded by prominent figures, including Jim Mellon and Dr. Declan Doogan, who bring a wealth of experience from the biotech industry. The leadership team has been involved in pioneering biopharma transactions, displaying an impressive track record of operational success.
The Future of Therapeutics at Juvenescence
As a forward-thinking organization, Juvenescence is also invested in various companies and technologies that revolve around AI and regenerative medicine. Their diversified product pipeline includes candidates focused on cognition, metabolic health, and cellular repair, demonstrating a comprehensive approach to tackling age-related challenges.
Contact Information
If you would like to learn more or connect, please reach out to Juvenescence’s Investor Relations at juvenescenceir@juvlabs.com. For media inquiries, contact ICR Healthcare at Juvenescence@icrhealthcare.com.
Frequently Asked Questions
What is the funding amount raised by Juvenescence?
Juvenescence has raised $76 million in the first tranche of its Series B-1 financing.
Who led the investment round?
The investment round was led by M42, a prominent firm based in Abu Dhabi.
What is the goal of the partnership between Juvenescence and M42?
The partnership aims to develop AI-enabled therapeutics and establish a drug development hub in Abu Dhabi focused on innovative therapeutic solutions.
What areas does Juvenescence focus on?
Juvenescence specializes in developing medicines that target aging mechanisms to treat and prevent age-related diseases.
Who are the key founders of Juvenescence?
Juvenescence was founded by Jim Mellon, Dr. Greg Bailey, and Dr. Declan Doogan, all of whom have extensive experience in the biotech field.
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