Biotechnology company closed private financing from BVI-registered Juvenescence Ltd.

LyGenesis, Inc., a biotechnology company focused on organ regeneration, announced the closing of US$4 million in private financing of convertible notes from BVI-registered holding company Juvenescence, Ltd. and Longevity Vision Fund. This convertible debt financing will allow LyGenesis to start transition of liver regeneration program into clinical development stage.

Greg Bailey, MD, Co-Founder and CEO of Juvenescence and a member of LyGenesis’s Board of Directors, said in his comments: “We are thrilled to continue our financial support of LyGenesis as they transition into clinical development.” Sergey Young, founder of Longevity Vision Fund, said “The progress of LyGenesis’s technology is emblematic of the rapid advances we are witnessing as biotechnology transitions from bench research, to preclinical models, and now into the clinic.”

NF Energy Saving Corporation completed acquisition of pharmacy chain company

NF Energy Saving Corporation, China-based provider of integrated energy conservation solutions, has completed the acquisition of Chinese pharmacy chain company Boqi Zhengji Pharmacy Chain Co., Ltd. 

Previously, NF Energy entered into a stock purchase agreement with British Virgin Islands-registered Lasting Wisdom Holdings Limited, as well as Hong Kong company Pukung Limited, China-based companies Beijing Xin Rong Xin Industrial Development Co., Ltd. and Boqi Zhengji Pharmacy Chain Co., Ltd., and several individual sellers. The aggregate purchase price for the shares consists of a cash consideration of RMB 40,000,000 (USD 5,643,181) and up to 1,500,000 shares of common stock of the company.

Mr. Tiewei Song, CEO and President of NF Energy Saving Corporation, commented on the completion of the acquisition: “We are pleased to complete the acquisition of Boqi Zhengji Pharmacy as promised. The acquisition is a substantial milestone for us to shift to the health industry while the market is booming.”