London Stock Exchange welcomes Genflow Biosciences Plc to the Main Market
London Stock Exchange today welcomes Genflow Biosciences Plc, 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, to the Standard Listing Segment of the Main Market, under the ticker symbol "GENF".
Genflow Biosciences opened the markets of the London Stock Exchange to mark the occasion of its historic Initial Public Offering as the first pure-play longevity biotechnology firm to list in Europe. Genflow’s listing comes at a time when the fast-growing longevity sector is increasingly becoming the focus of significant clinical research and is attracting considerable global capital.
The past 15 years have seen extraordinary developments in the understanding of the biology of ageing, on which the scientific and biotechnology community can now act. In light of this increased understanding, Genflow's Directors believe that ageing is a multifactorial, complex biological process which can be influenced through innovative gene therapies to achieve healthier longevity.
Genflow is currently undertaking pre-clinical trials which are expected to take approximately two years. The Company is developing gene therapies designed to target the ageing process and to reduce and delay the incidence of age-related diseases. This will be done through novel therapeutics targeting ageing in humans and dogs.
Genflow Biosciences has raised gross proceeds of £3.7m in an oversubscribed placing and upon admission, the Company will have a market capitalisation of approximately £23.4 million at the Placing Price.
Proceeds from the share placing will be deployed to further the Company’s research into the impact of the Sirtuin-6 ("SIRT6") gene variant on the ageing process and its potential beneficial impact on health spans. SIRT6 is a gene mutation found in centenarians that has already been shown to have significant capabilities to repair DNA damage and has yielded promising pre-clinical results.