Saudi anti-aging group links up with AFAR to dole out research grants; US cannabis biotech secures UK partner – Endpoints News

A Riyadh-linked non-prof­it group fo­cused on an­ti-ag­ing put out word Wednes­day that it would be hand­ing out $8.5 mil­lion to help fur­ther re­search in­to con­quer­ing ag­ing.

Hevo­lu­tion Foun­da­tion teamed up with the Amer­i­can Fed­er­a­tion for Ag­ing Re­search (AFAR) to an­nounce up to 18 three-year grants of $375,000. The two or­ga­ni­za­tions said that the grants would be used to sup­port re­search in ag­ing bi­ol­o­gy and gero­science, a new­er re­search fo­cus on the bi­ol­o­gy of age-re­lat­ed dis­eases. On top of that, the foun­da­tion is putting to­geth­er a con­fer­ence fund that AFAR will man­age to sup­port con­fer­ences and sci­en­tif­ic meet­ings.

The two com­pa­nies will de­ter­mine who gets the grants over the next cou­ple of months.

The Hevo­lu­tion Foun­da­tion was found­ed by the Sau­di roy­al fam­i­ly just last year, giv­en an an­nu­al bud­get of $1 bil­lion in­def­i­nite­ly to in­vest in­to an­ti-ag­ing re­search. At the helm of the foun­da­tion is Mehmood Khan, a for­mer Take­da vet­er­an and one-time CSO of Pep­si­Co.

Hevo­lu­tion CSO Fe­lipe Sier­ra, the for­mer di­rec­tor at the Di­vi­sion of Ag­ing Bi­ol­o­gy at the Na­tion­al In­sti­tute on Ag­ing from 2006-2019, not­ed that the col­lab­o­ra­tion with AFAR is just the first of many that the foun­da­tion hopes to form as the foun­da­tion moves for­ward.

“Through such fund­ing, we in­tend to catal­yse the field, en­able its growth, and ac­cel­er­ate progress,” Sier­ra added.

Cannabis biotech to take stake in UK cannabi­noid com­pa­ny

A biotech with US gov­ern­ment per­mis­sion to grow and sell cannabis for re­search and phar­ma ap­pli­ca­tions is now in­vest­ing in a com­pa­ny across the pond.

Bright Green an­nounced Wednes­day that it signed a let­ter of in­tent with UK-based Al­tero­la Biotech, which it­self fo­cus­es on cannabi­noids and cannabi­noid prod­ucts.

Bright Green will pur­chase 25% of Al­tero­la’s to­tal is­sued and out­stand­ing stock for $4 mil­lion, hav­ing six more months to pur­chase Al­tero­la’s re­main­ing stock as an op­tion for an­oth­er $6 mil­lion and $40 mil­lion in Bright Green stock. Bright Green specif­i­cal­ly not­ed that the ini­tial $4 mil­lion trans­ac­tion is sub­ject to com­ple­tion of “ini­tial sat­is­fac­to­ry due dili­gence” on top of oth­er cus­tom­ary con­di­tions.

Shares of $BGXX were up 7% in Wednes­day morn­ing trad­ing, above pen­ny stock lev­el at $1.12 a share.

The com­pa­nies added in a state­ment that Al­tero­la gains ac­cess to Bright Green’s cannabis re­sources and re­search, and Bright Green gets ac­cess to Al­tero­la’s in­dus­try re­la­tion­ships in re­turn.

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