Posted on Nov 19, 2019, 5 p.m.
The UK biotech Juvenescence is valued at $500 million, and it will use public offering to move 5 life extension technologies into phase 2 trials; the biotech incubator is creating medical therapies to increase human longevity.
Recently the company has moved its IPO to the second half of 2020, the postponement from an earlier public announcement slating the launch for Q1 2020 is set to be in America either in NASDAQ or NYSE which is likely due to the offering of a series C to strategic investors prior to the initial public offering.
Clinically advanced companies in the life extension portfolio include artificial drug discoverers Insilico, organ replacement start up LyGenesis, and tissue regeneration company AgeX; and there is a collaboration with BHB Therapeutics which is developing a supplement to capture the benefits of the lifespan boosting ketogenic diet.
Chair and founder Jim Mellon says the company will use proceeds from the public launch to take 5 of its therapies into phase 2 trials, he sees the viability of life extending technology promising to meet public demand soon, and Juvenescence is in a position as an early market mover to be advantageous.
“There are a maximum of 10 funds focused on Longevity,” Mellon said. “There’ll be 50-70 in the next few years and in 10 years’ time there’ll be thousands. The Longevity investment market is like the cannabis market – it will grow very quickly, but it will be much bigger.”
Before going public, the company will undertake a Series C round with a handful of investors who are set to cover the whole round themselves. Mellon and co-founders Dr. Declan Doogan and Dr. Greg Bailey will remain in place as a key stakeholder in the company “We’re the biggest investors ourselves and have no intention of selling our stakes,” Mellon said.
Currently the company is the world’s best funded anti-aging and longevity platform with a valuation set to rise above its series B round of $500 million by next year. Other companies in the same space include Life Bioscience with an estimated value of $500 million, and Longevity Vision Fund which is valued at an estimated $100 million.
Google’s Calico is also following with a collaboration of its own with the pharmaceutical giant AbbVie, both companies have pledged to invest $1 billion in anti-aging and longevity research.
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