Juvena Therapeutics announced it has raised $33.5 million in a Series B financing to advance its clinical-stage regenerative biologics programs and expand its AI-enabled discovery capabilities.
The round was led by Bison Ventures and included participation from Eli Lilly and Company and Jefferson Life Sciences, along with existing institutional backers including Mubadala Capital and Manta Ray. Juvena is based in Redwood City, California.
Juvena said the financing builds on progress in its lead program, JUV-161, which the company describes as a first-in-class muscle-regenerating biologic designed to restore tissue function. The asset is being evaluated in Phase 1 clinical studies, with dosing completed in five of six single-ascending dose cohorts and all multiple-ascending dose cohorts, and full study completion expected by the end of January.
In preclinical models, the company said JUV-161 has been shown to enhance myogenesis and improve muscle metabolism and strength, with the goal of addressing muscle degeneration in myopathic conditions.
The company also highlighted a recently announced research and collaboration agreement with Eli Lilly that carries more than $650 million in potential milestone payments. Juvena positioned the partnership as validation of its approach to translating insights from human stem cell biology into engineered biologics.
Proceeds from the Series B will be used to advance Juvena’s lead clinical programs, broaden its pipeline of tissue-restorative biologics, and support continued development of its AI-enabled discovery capabilities. Juvena said it is pursuing programs targeting neuromuscular and age-related diseases and is exploring additional partnership opportunities, including an expanded clinical development plan for neuromuscular disease programs.
Juvena said it has initiated a search for a chief executive officer. Co-founder Hanadie Yousef will remain on the board and serve as an executive advisor, while co-founder Jeremy O’Connell continues as chief scientific officer.
The company also expanded its board with the additions of Bison Ventures founding partner Ben Hemani and Jefferson Life Sciences managing partner Laura Lande-Diner. Other directors include independent members Stephen Juelsgaard, a former Genentech executive, and Steven P. James, a former CEO of Pionyr Immunotherapeutics, Labrys Biologics, and KAI Pharmaceuticals, along with co-founders Yousef and O’Connell and Dr. Cristina Ghenoiu. Juvena said it has further bolstered its clinical leadership with the hires of Dr. Colin Hislop and Dr. Banmeet Anand.
KEY QUOTES:
“Juvena is helping define a new frontier in regenerative medicine by combining advances in AI, human biology, and biologics engineering. We believe this approach has the potential to reshape how tissue-degenerative diseases are treated, and we’re excited to support the company as it moves into this next stage of growth.”
Ben Hemani, Founding Partner, Bison Ventures
“This financing marks an important inflection point for Juvena and validates the scientific and translational foundation we’ve built. Additionally, the research and collaboration agreement with Eli Lilly and Company underscore our platform’s ability to translate insights from human stem cell biology into therapeutics with the potential to restore tissue function and address serious unmet needs.”
Dr. Jeremy O’Connell, PhD, Co-Founder and Chief Scientific Officer, Juvena Therapeutics
“I am incredibly proud of Juvena’s evolution from a platform concept into a clinical-stage leader in regenerative medicine. With the company poised for its next chapter of scale, I am excited to support the transition to new leadership, while remaining actively engaged in our mission as a Board Director and Executive Advisor.”
Dr. Hanadie Yousef, PhD, Co-Founder, Board Director and Executive Advisor, Juvena Therapeutics
