Mentioned:
The co-founder of Patron is deepening his bet on a publicly traded biotech company. But, why?
What’s happening:
- Telomir Pharmaceuticals (NASDAQ: TELO) has raised $5.6M USD in a new equity financing round
Why it matters:
- Co-founder of John Paul Mitchell Systems and Patron John Paul DeJoria personally invested $1M USD In the Telomir Pharmaceuticals’ new financing round
Going deeper:
- Telomir Pharmaceuticals is currently preparing to start a Phase I trial for their lead drug candidate known as Telomir-Zn which is a small oral molecule for patients with advanced or metastatic triple-negative breast cancer
- Telomir Pharmaceuticals has also publicly stated that they believe Telmoir-Zn has potential applications for longevity and has completed preclinical studies that show Telomir-Zn may potentially address key aspects of cellular aging such as telomere shortening, toxic metal buildup and mitochondrial dysfunction
The intrigue:
- John Paul DeJoria already owned a 5% equity stake in Telomir Pharmaceuticals prior to investing $1M USD in this capital raise
The fine print:
- Telomir Pharmaceuticals has not tested the effects of Telomir-Zn in human beings for potential longevity benefits or cellular aging
