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news.AI-enabled biotech company Juvenescence has announced the first close of its Series B-1 funding round, securing $76m to progress its therapeutic portfolio into clinical development.
The partnership will utilise M42's know-how in digital healthcare data, bioanalysis, genomics, and trial infrastructure. Credit: National Cancer Institute on Unsplash.
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The funding will enable the company to deliver critical clinical readouts for its core medicine pipeline.
Investor M42 spearheaded the funding round, with continued support from current investors.
M42’s contribution is part of a broader strategic collaboration aimed at developing an AI-enabled therapeutic pipeline to extend healthy lifespans.
Together, Juvenescence and M42 will set up a drug development hub in Abu Dhabi, focusing on building a therapeutics pipeline to achieve these goals.
The partnership will utilise M42’s know-how in digital healthcare data, bioanalysis, genomics, and trial infrastructure, along with Juvenescence’s expertise in AI-enabled discovery technology and drug development.
This partnership effort is expected to improve the understanding of the disease.
In addition to detecting drug targets and developing therapeutics, the alliance will explore collaborative research and development (R&D) opportunities with academic and research organisations in the UAE and worldwide.
A Joint Steering Committee, comprising senior executives from both companies, will oversee this collaboration’s execution.
The second close of the Series B-1 funding round is anticipated to be completed in the third quarter of this year.
Juvenescence CEO Dr Richard Marshall said: “We are grateful for the continued support of our investors, including new investor and strategic partner M42, who have joined us on this remarkable journey.
“Our partnership with M42 signifies a shared commitment to developing sustainable, long-term collaborations. Together, we are excited about the opportunity to help build a leading life-sciences hub in Abu Dhabi and establish a pipeline of innovative therapeutics that will improve the lives of millions of patients.”
