UAE – Mubasher: Rejuveron Life Sciences AG, a biotechnology firm in Switzerland, has closed a $75 million dual-tranche Series B equity and convertible loan financing.
The company will use the investment to widen its portfolio of medicines aimed at helping people age better and live longer, according to a press release.
In line with its expansion plans in the Middle East, Rejuveron will establish offices in Abu Dhabi to foster the UAE's transformation into a hub of longevity research and innovation.
The biotechnology firm initiated partnerships with local universities and hospitals to drive aging research in the region, including New York University (NYU) Abu Dhabi, among others.
Meanwhile, the syndicate of the funding was led by Catalio Capital Management and existing investor Apeiron Investment Group. The global syndicate witnessed the participation of various institutional investors and family offices, including Mubadala Capital which joined as a new investor.
Aksana Labokha, CEO of Rejuveron, said: “The financing is a huge step forward and we are really excited about growing operational presence and links to the MENA region.”
“The UAE, Saudi Arabia, and other Gulf states have clearly outlined strategic objectives to advancing a healthcare system that encompasses longevity and preventative medicine,” Labokha added.
Aaron Weaver, Rejuveron Board Member and Director MENA at Apeiron Investment Group, noted: “The political leadership within the UAE and Saudi Arabia have taken bold and forward-thinking steps in setting out ambitions and institutions supporting a very necessary transformation of the healthcare system.”
