The round for the British clinical-stage AI-enabled biotech company was led by M42 and the firm will now establish a drug development hub in Abu Dhabi.
Juvenescence, a British clinical-stage AI-enabled biotech company, has secured $76 million (£56.2 million) in the first close of its Series B-1 round found funding which was led by cornerstone investor M42, with follow-on investments from existing investors.
The firm says that it expects the second close of its Series B-1 to complete by the end of September.
To date, the firm has raised $295.2 million in six rounds of funding.
The new round will enable Juvenescence to continue to advance its portfolio of therapeutics into clinical development and deliver clinical readouts for its core medicine pipeline.
“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,” said Juvenescence chief executive Richard Marshall.
Therapeutics pipeline
The investment by Abu Dhabi-based M42 is part of a wider strategic partnership to identify and develop a pipeline of AI-enabled therapeutics to extend healthy lifespans and advance the treatment of life-threatening diseases.
M42 was established in 2022 by Abu Dhabi-based AI technology holding group G42 and Abu Dhabi-based global sovereign investor Mubadala Investment.
Juvenescence and M42 will now establish a drug development hub in Abu Dhabi to build a therapeutics pipeline to extend healthy lifespan.
M42 owns a portfolio of healthcare assets that includes Amana Healthcare, the Middle East’s leading provider of specialised long-term care, rehabilitation and home healthcare services; pathology group Biogenix Labs; and the HealthPlus network of speciality centres and family clinics across the Middle East. It also has stakes in Moorfields Eye Hospital Abu Dhabi, Imperial College London Diabetes Centre, Insights Research Organization & Solutions (IROS), Omics Center of Excellence and The National Reference Laboratory, among others.
