Global Pharma Organizations Back Turn Biotechnologies To Advance Its Cell Rejuvenation Program
PR95410
MOUNTAIN VIEW, Calif., April 11, 2022 /PRNewswire=KYODO JBN/ --
- Daewoong Pharmaceutical, HanAll Biopharma join Astellas Venture Management
and other VCs in oversubscribed funding round to accelerate Turn Bio's
preclinical advances in multiple therapeutic areas
Turn Biotechnologies, a cell rejuvenation company developing novel mRNA
medicines to cure untreatable, age-related conditions, today announced that it
closed an oversubscribed fundraising round to support the next stage of its
development.
Investments from two international pharmaceutical organizations and a venture
capital group associated with a third underscored widespread interest in Turn
Bio's unique cell rejuvenation therapy, which is built on the company's
proprietary ERA™ platform.
International pharmaceutical industry backing came from three groups:
-- Astellas Venture Management LLC, a venture capital organization within
Astellas Pharma, which is actively engaged in business as an
R&D-driven global pharmaceutical company with the business philosophy
to "Contribute toward improving the health of people around the world
through the provision of innovative and reliable pharmaceutical
products";
-- Daewoong Pharmaceutical, recognized as one of the world's most
collaborative pharmaceutical companies; and
-- HanAll Biopharma, which is conducting innovative research in
ophthalmology, immunology, oncology, neurology, and produces
therapeutics in endocrine, circulatory and urological diseases.
"The attention and support Turn Bio is receiving from organizations around the
world shows the confidence companies have in our ability to utilize our
proprietary technology platforms to develop cures for now-untreatable
conditions that afflict millions of people globally," said CEO Anja Krammer.
"Turn Bio is closer to proving that cell rejuvenation will transform how
medicine treats human disease – and ultimately extends the human healthspan."
An executive from HanAll acknowledged the importance of Turn Bio's work.
"Many age-related diseases have long been significant areas of unmet patient
need," said Dr. Almira Chabi, chief medical officer and chief development
officer at HanAll Pharmaceutical International, a U.S. organization HanAll
created to strengthen its R&D. "Turn Bio's innovative platform may bring a
pivotal transformation to a wide array of therapeutic areas. HanAll is
committing support and investment to help realize the full potential of this
pioneering technology as Turn Bio advances to a new phase of growth."
The round also attracted investment from LongeVC, which is focused on
accelerating companies' development in the longevity space; ThreeD Capital,
which invests in disruptive technologies, and Vitality Healthspan Foundation.
Existing investors, Methuselah Fund, Formic Ventures and Shanda Group,
increased their investments this round.
ABOUT TURN BIOTECHNOLOGIES
Turn Bio is a pre-clinical-stage company focused on repairing tissue at the
cellular level. The company's proprietary mRNA platform technology, ERA™,
restores optimal gene expression by combatting the effects of aging in the
epigenome. This restores the cells' ability to prevent or treat disease, and
heal or regenerate tissue and will help to fight incurable chronic diseases.
The company is currently completing pre-clinical research on tailored therapies
targeting indications in dermatology and immunology, as well as developing
therapies for ophthalmology, osteo-arthritis and the muscular system. For more
information, see www.turn.bio .
FOR MORE INFORMATION, CONTACT:
Jim Martinez, rightstorygroup
jim@rightstorygroup.com or (312) 543-9026
SOURCE Turn Biotechnologies
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