Hevolution Invests $20 Million in Aeovian Pharmaceuticals

Saudi Arabia’s Hevolution Foundation announced a $20 million (SAR 75,000,000) investment in Aeovian Pharmaceuticals, according to an emailed press release. The investment comes as part of a $50 million Series A financing extension for the pharma company.

Other investors in the round include Apollo Health Ventures, Sofinnova Investments, venBio, Evotec, and b2venture.

The investment will go toward advancing Aeovian’s selective mTORC1 inhibitors, which are being developed to address neurological diseases as well as other aging-related diseases. The investment will see Hevolution’s chief investment officer William Greene join Aeovian’s board of directors.

California-based Aeovian Pharmaceuticals is a clinical-stage biopharmaceutical company that develops technologies to restore cellular metabolic quality control to target dysregulated growth in rare genetic and age-related diseases.

Saudi Arabia’s Hevolution Foundation, which was established in 2021, is a global non-profit committed to investing $1 billion a year in longevity and healthspan science by providing grants and early-stage investments to incentivize independent research and entrepreneurship in the nascent field of healthspan science. To date, the foundation has committed more than $250 million in scientific funding.

Healthspan science, which aims to increase the number of years spent in good health, is part of the global longevity market, which develops preventative and therapeutics for age-related diseases, with a focus on cardiovascular disease, cancer, and Type 2 diabetes.