19th Aug 2019 10:47
(Alliance News) - FastForward Innovations Ltd on Monday said its investee Juvenescence Ltd closed series B funding at USD100 million target.
The AIM-listed company, which invests in fast growing and industry leading businesses, said this second and final tranche of the series B funding is at the same USD24.70 per share price as the first tranche, maintaining the implied value of USD3.2million for FastForward's investment in 128,205 Juvenescence series A shares.
FastForward said life sciences company Juvenescence has raised USD165 million in total over the past 18 months to develop therapeutics to modify 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," said Juvenescence Chief Executive Greg Bailey.
"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 Juvenescence Chair Jim Mellon.
FastForward shares were trading 11% higher in London on Monday at 7.48 pence each.
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