Hevolution Foundation has announced its first life science impact investment of $20 million to help Aeovian Pharmaceuticals advance its innovative platform of selective mTORC1 inhibitors which could lead to several promising therapies for disease of ageing.
The investment was the leading contribution in a $50 million Series A financing extension for Aeovian.
Evolution Foundation has said that the investment has the potential to address major unmet medical needs including TSC refractory epilepsy, neurological diseases, and prevalent diseases of ageing.
Dr Mehmood Khan, CEO of Hevolution, stated: “Hevolution stands out as a global nonprofit, having allocated over $250M towards healthspan research grants and partnerships since 2021. Our inaugural impact investment in Aeovian is another landmark moment for us, furthering our mission by laying the groundwork to encourage more companies and investors to engage with the healthspan field through promising early-stage biotech companies like Aeovian.
“We remain unwavering in our commitment to drive growth, innovation, and cooperation in this scientific field, with the ultimate goal of enhancing healthy human healthspan.”
Hevolution selected Aeovian based on the company’s success in drug discovery, its expertise in development, the potential for commercialisation, and its compelling platform for the discovery of selective mTORC1 inhibitors.
As the lead investor, Hevolution is joined in this investment by Apollo Health Ventures, Sofinnova Investments, venBio, Evotec, and b2venture. Hevolution’s Chief Investment Officer William Greene, M.D. will also join Aeovian’s Board of Directors, bringing over 25 years of leadership experience as a founder, biotechnology executive, investor, and clinician.
“The entire Aeovian team welcomes Hevolution and Dr. Greene as we transition to a clinical-stage company” said Allison Hulme, Ph.D., President and Chief Executive Officer, Aeovian Pharmaceuticals.
“We are delighted to partner with Hevolution to develop therapeutics with the potential to precisely target the underlying biology of both rare and age-related diseases, thereby addressing significant unmet medical needs and serving broad patient populations.”