Genflow Biosciences PLC will become the first longevity-focused biotechnology to float in Europe when it joins the standard listing on the London Stock Exchange.
An oversubscribed share placement raised £ 3.7million and assigned an initial valuation of £ 23.4million to the fledgling company.
In the United States, a new industry is growing around companies developing treatments designed to allow people to enjoy healthy old age.
Billionaire entrepreneurs Jeff Bezos and Peter Thiel have invested heavily, as the race to find life-enhancing treatments has spawned R&D-based companies such as Unity Biotechnology, Samumed, Bioage and Frequency Therapeutics.
Genflow’s plan to list on the London Stock Exchange, rather than going on the Nasdaq stock exchange that spawned the generations of great biotech, is a deliberate move.
Managing Director Eric Leire: “It was very important for me to capture the open field in Europe.
“London’s investment history in biotechnology is unmatched by Euronext [the rival mainland Europe exchange]; there is not the same either [investor] expertise, ”he added in an interview with Proactive.
Genflow focuses on the Sirtuin 6 gene, or SIRT6 for short, which is considered to be the “primary regulator of healthy aging”.
It targets four of the nine “characteristics of aging” rather than the unique facets that are unique to other drug candidates.
The company’s R&D effort relies heavily on research conducted by Dr. Vera Gorbunova of the University of Rochester in the United States, who is also on the company’s scientific advisory board.