- Juvenescence — a life sciences company utilizing drug developers and AI to create therapeutics for treating diseases of aging raised $100 million
Juvenescence — a life sciences company that is utilizing drug developers and AI experts to create therapeutics and technologies to treat diseases of aging and to increase human longevity — recently announced it raised $100 million in Series B funding, of which $10 million was from its founders and a further $10 million each from four cornerstone investors, including Grok Ventures (investment company of Atlassian co-founder Mike Cannon-Brookes) and IPGL (private investment company of Michael Spencer). Including this round, the company has raised a total of $165 million in the past 18 months. This funding round also indicates the interest in developing therapeutics with the capacity to modify aging.
Juvenescence is working on a longevity ecosystem with world-class scientists, seasoned drug developers, machine learning experts, and a strong team with financial acumen to navigate this emerging new biotechnology growth sector and to develop 12 therapeutic candidates within the field of healthy aging.
“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,” said Juvenescence CEO Dr. Gregory Bailey.
Founded by Dr. Bailey, Jim Mellon, and Dr. Declan Doogan, the Juvenescence team includes highly experienced drug developers, entrepreneurs, and investors with a significant history of success in the life sciences sector.
Juvenescence is going to 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. Plus Juvenescence believes that recent advances in science have greatly improved our understanding of the biology of aging and seeks to develop therapeutics with the possibility of slowing, halting or potentially reversing elements of aging.
“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,” added Mellon.
