Longevity firm Genflow Biosciences makes its London debut
Genflow Biosciences, the UK-based biotechnology company focused on preventing the ageing process, has started trading on the London Stock Exchange, becoming the first longevity biotechnology firm to list in Europe.
A total of 47,036,500 Ordinary Shares were placed at eight pence each, valuing Genflow Biosciences at a market cap of £23.4m.
The firm has been admitted to the standard segment of the Official List following an oversubscribed placing of Ordinary Shares to raise £3.7m before expenses for the company.
The purpose of the flotation is to raise the public profile and provide new funds for the Genflow’s expansion and long-term growth.
Dr. Eric Leire, founder and chief exec of Genflow Biosciences, said: “Genflow Biosciences’ debut on the London stock market is a major step in the Company’s development and provides a strong foundation to carry out our long-term growth strategy. We are delighted with the strong support from a wide range of investors, to develop life-changing gene therapies to target the ageing process.”
Genflow Biosciences was established in 2020 in order to develop therapies to allow people to live longer, healthier lives. It focuses on the development of therapies to counteract the effects of ageing and diseases associated with advanced age, including SIRT6 gene mutation (genes found in centenarians).
Dr. Eric Leire has two decades of experience in cell and gene therapy and has led several therapy companies, including Enochian Biosciences which is listed on the Nasdaq.
Dr Leire has brought together experts in various fields within the longevity sector to establish a strong Scientific Advisory Board which will guide Genflow’s pre-clinical and clinical programmes and provide external perspectives to steer its research and development strategies.
The Company is headquartered in London and has a Belgian R&D subsidiary Genflow Biosciences, SRL.