The latest longevity updates from our investment news desk.
Assured Allies raises $42.5M
Longevity insurtech company Assured Allies announced a $42.5 million Series B funding round, bringing the total capital raised to $65 million. The company combines machine learning and predictive analytics with the latest aging science to offer successful aging programs designed to reduce the risk of disability, and next-generation retirement products that make long-term care insurance accessible and financially sustainable.
Having partnered with several leading long-term care insurance carriers in the past year, Assured Allies has grown the number of members on its platform by over 300%. The capital raised will fuel further growth and expansion of the company’s carrier and partner network.
“The way people plan for aging and their expectation of aging is fundamentally changing and we are excited to continue to lead the way with our proven solutions to making longevity financially sustainable,” said Afik Gal, co-founder and president of Assured Allies.
The round was co-led by FinTLV Ventures and existing investor Harel Insurance, and was joined by new and existing investors including Lumir Ventures, Funds managed by Hamilton Lane, New Era Capital Partners, MS&AD Ventures, Core Innovation Capital, Poalim Equity, EquiTrust Life Insurance Company, Akilia Partners and Samsung Next.
Fountain Life adds to Advisory Board
Preventive health and longevity company Fountain Life announced the appointment of Dr Mark Hyman to its Medical Advisory Board, joining Eric Verdin, CEO of the Buck Institute and Daniel Kraft, the Stanford and Harvard-trained physician-scientist, inventor and entrepreneur.
A practicing family physician Hyman is an internationally recognized leader, speaker, educator and advocate in the field of functional medicine. He is the founder and director of The UltraWellness Center, Founder and Senior Advisor for the Cleveland Clinic Center for Functional Medicine, a fifteen-time New York Times best-selling author, and Board President for Clinical Affairs for The Institute for Functional Medicine.
“I believe everyone deserves a life of vitality and that we have the potential to create that life for ourselves,” said Hyman. “I feel in synchrony with Fountain Life’s values and commitment to empowering people to be in control of their health. I am thrilled to join Fountain Life’s esteemed Medical Advisory Board and contribute to making their innovative healthcare offerings available to more members across the US and globally.”
Form Bio appoints CFO
Computational life sciences platform Form Bio announced the appointment of Linda Murray as Chief Financial Officer. Murray will lead the establishment and scaling of the financial and operating infrastructure, supporting the company’s overall strategy, growth and execution.
“The cell and gene therapy market stands to benefit greatly from next-generation software,” said Murray. “Form Bio’s AI-based platform and solutions have the potential to reshape the role of technology in how biologic and therapeutic developments are made. That’s an incredible value proposition that in turn creates a huge opportunity in a fast-growing market to utilize scientific data, accelerate therapeutic development and ultimately improve human health.”
The need for longevity-focused non-profits
In his latest Forbes column, Insilico Medicine boss Alex Zhavoronkov speaks with Lisa E Ireland, the president and CEO of the Longevity Science Foundation, about how to make longevity more accessible.
“I see it as the Foundation’s responsibility to raise awareness about what longevity means for individuals, and this is the basis of many donor inquiries,” says Ireland. “It’s not enough to simply fund projects. It’s not enough to make sure these projects are accessible. We will steer the societal conversation on the life-changing implications of longevity research and convene the leading voices in the space to do so.”
Biophysical emerges from stealth
Computational biology drug discovery company Biophysical Therapeutics emerged from stealth this week. Founded by Cambridge University biochemistry graduate Dr Michael Forrest, the company is advised by renowned Harvard genetics professor George Church and Professor Bruno Conti of the Scripps Institute. Biophysical’s primary targets are cancer, age-related diseases and aging itself.
Across a set of mammal species, Biophysical has shown that maximal lifespan is inversely proportional to the use (per unit mass) of its newly discovered reaction for metabolic heat generation. The company believes that drives the inverse proportionality between metabolic rate per unit mass and maximal lifespan, which causes the inverse proportionality between heart rate and maximal lifespan, observed in the same set of mammal species.