REG - Genflow Biosciences - Company Update

Genflow BiosciencesAnnouncement

16/05/2022 07:15

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RNS Number : 5811L  Genflow Biosciences PLC  16 May 2022

 

PRESS RELEASE

16 May 2022

Genflow Biosciences Plc

("Genflow" or "the Company")

 

Company Update

Genflow (LSE: GENF), a UK-based biotechnology company focused on longevity and
the development of therapies to counteract the effects of aging 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

Operational highlights

·    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

 Chief Executive
 Clear Capital Markets Ltd
 Corporate Broker                    +44 203 869 6086

 Jonathan Critchley                  +44 203 897 0981

 Keith Swann
 Tancredi Intelligent Communication

 Media Relations
 Salamander Davoudi                  +44 7957 549 906

 Helen Humphrey                      +44 7449 226 720

 Benedetta Negri da Oleggio          +44 7838 029 970

                                     genflowbio@tancredigroup.com

 

About Genflow

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 (http://www.genflowbio.com)

 

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