LyGenesis Raises $19M in Series A-2 Funding Led by Prime Movers Lab

Funds will enable the completion of the ongoing Phase 2a clinical trial growing ectopic livers for patients with end stage liver disease and advance LyGenesis's pipeline of cell therapies

PITTSBURGH, Oct. 24, 2023 /PRNewswire/ -- LyGenesis, a clinical-stage biotechnology company developing cell therapies for patients with end stage liver disease, type 1 diabetes, end stage renal disease, and aging announced it has raised more than $19M in a Series A-2 financing round led by Prime Movers Lab, investors in breakthrough scientific startups, with follow-on funding from Juvenescence. This funding round will enable LyGenesis to complete its Phase 2a clinical trial (ClinicalTrials.gov Identifier: NCT04496479) and advance its pipeline of cell therapies.

"LyGenesis's regenerative cell therapies have the potential to transform the lives of patients who are either medically ineligible for an organ transplant or are awaiting an organ to become available. Using lymph nodes as bioreactors to grow ectopic organs is the type of platform technology that could revolutionize the treatment of multiple diseases and beneficially affect millions of lives," said Justin Briggs, Biologist and Partner at Prime Movers Lab, who will be joining LyGenesis's Board of Directors.

"We're delighted to continue our support for LyGenesis on its mission to restore the function of failing vital organs. By combining allogeneic cells from donated but discarded organs with a cost effective manufacturing process and engrafting their cell therapies using a low risk outpatient endoscopic ultrasound procedure, LyGenesis represents a truly remarkable opportunity," said Richard Marshall, Chief Executive Officer of Juvenescence. The Series A-2 financing was also supported by Juvenescence and other investors.

ABOUT LYG-LIV-001 CELL THERAPY

LYG-LIV-001 is LyGenesis's allogeneic cell therapy regulated by the FDA as a Section 351 Human Cellular Therapy/Product (HCT/P). This biologic therapy is created starting from donated livers, which are processed under Current Good Manufacturing Practice through a multi-step procedure to carefully isolate and suspend the hepatocytes in a solution to ready them for engraftment into that patient's mesenteric lymph nodes using an endoscopic ultrasound. The lymph node then acts an as in vivo bioreactor, helping the hepatocytes to engraft, proliferate, and generate functional ectopic liver tissue. Unlike CRISPR or CAR-T therapies, LyGenesis's LYG-LIV-001 does not genetically engineer its cellular therapy, reducing the time and costs associated with manufacturing and commercializing the product.

ABOUT LYGENESIS INC.

LyGenesis is a clinical-stage biotechnology company whose cell therapies use patients' lymph nodes as bioreactors to regrow functioning ectopic organs. LyGenesis's lead allogeneic cell therapy program is currently in a Phase 2a clinical trial for patients with end stage liver disease (ClinicalTrials.gov Identifier: NCT04496479). LyGenesis's drug development pipeline includes cell therapies that can produce an ectopic thymus (for aging and multiple other potential indications), pancreas (for Type 1 diabetes), and kidney (for end stage renal disease). Privately held with investment support from Prime Movers Lab and Juvenescence, and other investors, LyGenesis is headquartered in Pittsburgh, Pennsylvania. To learn more, please visit lygenesis.com.

ABOUT PRIME MOVERS LAB

Prime Movers Lab invests in breakthrough scientific startups founded by Prime Movers, the inventors who transform billions of lives. We invest in companies reinventing energy, transportation, infrastructure, manufacturing, agriculture, and human augmentation. Portfolio investments span in-space transportation, industrial solar heat, ag tech, neurotechnology, nano-structured materials, wafer slicing, prosthetics, 3D printing, mobility, longevity, drug discovery, and quantum computers. Learn more at www.primemoverslab.com.

ABOUT JUVENESCENCE

Juvenescence is a life sciences company developing therapies to modify aging and increase healthy human lifespan. It was founded by Jim Mellon, Dr. Greg Bailey, and Dr. Declan Doogan. The Juvenescence team consists of highly experienced drug developers, entrepreneurs, marketers, and investors with a significant history of success in pharmaceutical drug development, synthetic biology, and tissue and cellular engineering.

Juvenescence has a broad portfolio of products in development and is driving innovation, with a focus on discovering and developing these therapies to modify the aging process, through prevention and by regenerating damage, to support healthy aging and increase health span. The company is committed to inspiring and equipping the world to, not just reimagine what it means to age, but to help people Reimagine a Lifetime. For more information see: www.JuvLabs.com.

SOURCE LyGenesis, Inc.