LONDON (Alliance News) - Investment company FastForward Innovations Ltd said on Tuesday it has invested USD2 million for a 0.8% interest in reverse-ageing company Juvenescence Ltd.
The investment was part of a USD50 million Series A fundraise which has been closed with a post-money valuation of USD250 million.
Proceeds will go towards advancing key projects over the next 12 months, while Juvenesence review options for a potential listing in 2019, however it has not been elaborated to what stock exchange it would float to.
"We are delighted to complete our investment in Juvenescence. Huge strides are being made in the fight against ageing and related diseases and enormous capital is being invested in this area," said Chief Executive Lorne Abony.
"Commercialisation of drugs and technologies that slow, halt or reverse the ageing process could emerge as the biggest industry in the world over the next 10 years, dwarfing sales of global retailers and pharmaceutical companies, with the potential for super-normal returns for early-stage investors".
Shares in FastForward Innovations were down 4.1% at 13.19 pence on Tuesday.