Abu Dhabi sovereign wealth fund Mubadala is investing in Swiss biotech firm Rejuveron Life Sciences AG.
Rejuveron fouses on developing therapies to prevent or reverse diseases of aging and extend people's longevity.
The European company raised around $75 million from a series B funding, which drew support from Mubadala’s asset management unit Mubadala Capital.
The new investment round was co-led led by Catalio Capital Management a life-sciences investment firm, and Apeiron Investment Group, the private investment company of German businessman Christian Angermayer.
It reportedly values Rejuveron at close to $400 million.
“[The company] has a closed $75 million financing round… with Mubadala joining the syndicate,” Angermayer announced on social media on Tuesday.
“With this funding, Rejuveron will continue its mission to develop therapies that promote healthy aging and prolong … lifespan for everyone,” Angermayer, who is also the co-founder and chairman of Rejuveron, said.
Rejuveron also shared plans to open an office in Abu Dhabi, as part of its expansion strategy in the Middle East.
The Zurich-based firm is creating therapies that seek to combat aging.
“The MENA region has already seen several major announcements to propel longevity research and development…We believe that taking our place in this thriving ecosystem will help our development goals and invigorate healthcare delivery that is much needed to advance the cause of preventive medicine,” the company told Bloomberg.
“The UAE, the Kingdom of Saudi Arabia and other Gulf states have clearly outlined strategic objectives to advancing a healthcare system that encompasses longevity and preventive medicine,” Aksana Labokha, CEO of Rejuveron said in another media report.
(Reporting by Cleofe Maceda; editing by Seban Scaria)