FastForward Innovations Limited Investee Company Update: Juvenescence Limited
September 16 2020 - 11:00AM
RNS Non-Regulatory
TIDMFFWD
FastForward Innovations Limited
16 September 2020
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
16 September 2020
FastForward Innovations Ltd ("FastForward" or, "FFWD")
Investee Company Update: Juvenescence Limited
FastForward Innovations Ltd, the AIM quoted company focusing on
making investments in fast growing and industry leading businesses,
is pleased to note the following announcement released yesterday
concerning investee company Juvenescence Limited ('Juvenescence').
FastForward has a circa 0.63% interest in the issued stock of
Juvenescence.
The announcement is set out below without material changes or
adjustments.
Juvenescence Announces Licensing Agreement with Evgen Pharma
plc
DOUGLAS, Isle of Man--(BUSINESS WIRE)--Juvenescence Limited
("Juvenescence"), a life sciences company focused on modifying
aging and increasing human healthspan, announced today a
partnership with Evgen Pharma plc to license its sulforaphane
stabilization technology for use in several non-pharmaceutical
applications led by its JuvLife division. JuvLife will deploy
Evgen's Sulforadex(R) stabilization technology to create and
manufacture a nutritional health supplement containing a defined
and stable dose of sulforaphane, derived from natural sources.
Juvenescence is based on a new understanding of the underlying
biological causes of aging, creating evidence-based and
science-backed therapies. It is focused on increasing how long
people live in health by preventing the diseases of aging in the
first place. JuvLife, one of several divisions within Juvenescence,
is committed to be the trusted source of scientifically proven,
branded health supplements and medical foods that help increase
human healthspan and overall quality of life. The Juvenescence team
includes highly experienced drug developers, entrepreneurs,
marketers, and investors with a significant history of success in
the pharmaceutical and consumer health sectors.
Colin Watts, Chief Executive Officer of JuvLife, said: "We are
pleased to reach an agreement with Evgen to leverage their
scientific technology and expertise to create a differentiated and
innovative new product for the global consumer nutritional health
market. Sulforaphane is a well-studied natural metabolite derived
from cruciferous vegetables that has been shown to activate NRF2
and act as a powerful inducer of the native antioxidant response,
helping the body scavenge toxic metabolites and reducing markers of
inflammation. In this agreement, we are licensing Evgen's
proprietary technology for the natural extraction and stabilisation
of sulforaphane in a potent and cost-advantaged form that we
believe is superior to all other sources currently commercially
available. Juvenescence has built a reputation as a broad-based
healthcare company in the longevity space through strong
partnerships with scientific leaders in their specific areas and we
are delighted to have such a partner in Evgen."
The license is for exclusive rights to leverage certain patents
and know-how for all non-pharmaceutical applications in the United
States, with options for the other major markets namely, Europe,
Asia and Rest of World. Evgen will receive upfront and milestone
payments of up to $10.5m, and in addition, royalties on sales of
the commercialized product.
Barry Clare, Executive Chairman of Evgen, said: "This deal is a
strong demonstration of the broad potential for our sulforaphane
platform and achieves monetization in an area which is outside our
focus of therapeutic development in the NRF2 and STAT3 pathways.
Juvenescence has a science-driven approach to nutritional health
supplements and brings in-depth experience in this sector. We are
delighted to have them as a partner to bring the power of the
sulforaphane platform to life in a non-pharmaceutical sector."
About Evgen Pharma plc
Evgen Pharma is a clinical stage drug development company
developing sulforaphane based medicines for the treatment of
multiple diseases. The Company's core technology platform is
Sulforadex(R) , a method for synthesising and stabilising the
naturally occurring compound sulforaphane and novel proprietary
analogues based on sulforaphane. The lead product, SFX-01, is a
patented composition of synthetic sulforaphane and
alpha-cyclodextrin.
For further information, please visit: www.evgen.com
About Juvenescence Ltd.
Juvenescence Ltd. is a life sciences company developing
therapies to modify aging - increasing human health span and
longevity. It was founded by Jim Mellon, Dr. Greg Bailey and Dr.
Declan Doogan. The Juvenescence team are highly experienced drug
developers, entrepreneurs and investors with a significant history
of success in the pharmaceutical and consumer health sectors.
Juvenescence will create, partner with or invest in new companies
with longevity-related therapeutics, by in-licensing compounds from
academia and industry, or forming joint ventures to develop
therapeutics for longevity. Juvenescence believes that recent
advances in science have greatly improved our understanding of the
biology of aging and seeks to develop therapeutics with the
possibility of slowing, halting or potentially reversing elements
of aging.
For further information, please visit: www.juvlabs.com
ENDS
For further information on the Company please visit www.fstfwd.co or contact:
Ed McDermott / Lance FastForward Innovations Email: info@fstfwd.co
de Jersey Ltd
James Biddle / Roland Beaumont Cornish Limited, Tel: +44 (0) 207 628
Cornish Nomad 3396
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Jeremy King Optiva Securities Limited, Tel: +44 (0) 203 411
Broker 1881
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Isabel de Salis / Beth St Brides Partners Tel: +44 (0)207 236
Melluish Ltd, 1177
Financial PR
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Notes
FastForward Innovations is an AIM quoted investment company
focused primarily on disruptive high growth life sciences and
technology businesses particularly within the medical cannabis
arena. The Company's strategy is to identify early stage
opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of
investee companies to a level where relevant time can be devoted to
each.
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END
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