Genflow (LSE: GENF), a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of ageing and diseases associated with advanced age, is pleased to share the following highlights regarding the Company’s cash position and to report on its key developments since floatation:
Cash position and financials
· Robust balance sheet and net cash of £3.6m as at 13 May, giving the Company 2.5 years of working capital
· Oversubscribed placing at IPO to raise £3.7 million before expenses for the Company. The proceeds of this equity fundraising and the pre-IPO funding enable the Company to execute its business plan for the next 2.5 years without need for additional equity raises
· Non-dilutive grant research award from the Wallonia region in Southern Belgium allowing the Company to further extend its cash runway to support commercialisation activities
· Advancing pre-clinical programmes remain on-track. Moreover, clinical trials are expected to commence within an approximate 2-year timeframe which is in line with Company expectations
· Signed a scientific research collaboration with the University of Rochester’s Aging Research Center (RoAR) to research the potential of Sirtuin-6 in reversing the aging process in liver tissue, which is the first step towards a true rejuvenation gene therapy across a range of tissues. The collaborative research will be spearheaded by a member of the Company’s scientific advisory board, Dr Vera Gorbunova, who is also a co-director of RoAR and an internationally acclaimed scientist
· Signed a collaborative research agreement with Organips, a French biotechnology company and world leader in cellular aging reversibility founded by Prof Jean Marc Lemaitre, a world leader in the cellular aging field. The research will focus on the potential of the Sirtuin-6 gene variant found in centenarians (people aged more than 100 years old) in reversing the aging process in certain cells
Dr Eric Leire, Founder and CEO of Genflow, said: “I am delighted with the excellent strategic progress that Genflow has delivered since our landmark IPO to become Europe’s first listed pure play longevity company. The Company’s senior leadership have a strategy in place to advance our pre-clinical research programmes, which remain on-track.
“We look forward to building on Genflow’s position in European longevity and to continue to strengthen our partnerships across the Atlantic. The deep expertise of Genflow’s management team combined with the Company’s strong cash position enables us to look to the future with confidence and the team is buoyed by Genflow’s 2.5 years of working capital which underpins our resilience.”
For further information please contact:
Genflow Biosciences Plc
Dr Eric Leire
via Tancredi +44 203 434 2330
Genflow is a UK-based biotechnology company established in 2020. The Company is developing gene therapies designed to target the aging process and to reduce and delay the incidence of age-related diseases. This will be done through novel therapeutics targeting aging in humans by using adeno-associated virus (“AAV”) vectors to deliver copies of the Sirtuin-6 (“SIRT6”) gene variant that is found in centenarians into cells.
Its mission is to increase understanding of the factors that control and impact lifespan. Genflow researches, develops, and commercialises therapeutic solutions to lengthen health span, the amount of time we live in good health, creating biological interventions that enable longer and healthier lives. Genflow is dedicated to the development and commercialisation of novel therapeutics targeting aging in dogs and humans. By treating aging, Genflow can contribute to a decrease in healthcare costs and lessen the emotional and societal burden that comes with an aging population.
To learn more visit www.genflowbio.com
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