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.