A longevity MedTech is to list on the main segment of the London Stock Exchange.
London-headquartered Genflow Biosciences, which has an R&D centre in Belgium, is focused on the development of therapies to counteract the effects of ageing and diseases associated with advanced age.
It says it will become the first longevity biotechnology firm to list in Europe. Genflow has raised £3.7 million in an oversubscribed placing, conditional upon admission becoming effective, which will value it at approximately £23.4m.
Net proceeds from the IPO will be deployed to further research into the impact of the Sirtuin-6 gene mutation on the ageing process and its potential beneficial impact on health spans.
“We are delighted to be taking an important step for the life sciences sector by becoming the first pure play longevity company to list in Europe,” said Dr. Eric Leire, founder and CEO.
“The longevity sector has enjoyed sustained growth in recent years driven by breakthrough science and favourable demographic changes such as the growth of aging populations.
“Genflow’s team of experts has a wealth of skills, experience and knowledge to guide the company to a bright future, and to capitalise on this opportunity for the longevity sector.
“We believe Genflow will unlock value for investors whilst creating real change for the better to peoples’ lives in this exciting sector.”
Genflow says SIRT6 has already been shown to have significant capabilities to repair DNA damage, which will improve health spans and, potentially, life expectancy. It is currently undertaking pre-clinical trials which are expected to take approximately two years.
The group has entered into collaborations, including with St Anne’s University Hospital in Brno, Czech Republic, and with IVEX Lab OÜ, based in Estonia.