Serina Therapeutics Announces Sale of UniverXome Subsidiary
Friday, January 17, 2025
Serina Therapeutics Inc., a clinical-stage biotechnology company developing its proprietary POZ Platform™ drug delivery technology, today announced the sale of its UniverXome subsidiary. The transaction was finalized on December 23, 2024 and eliminated $11.2 million in associated subsidiary-level debt, positioning Serina with a debt-free balance sheet heading into 2025.
The UniverXome subsidiary was established prior to Serina’s reverse merger with AgeX Therapeutics in March 2024 to own the legacy assets of the predecessor company.
Steve Ledger, CEO of Serina, commented, “This transaction underscores our commitment to maintaining a focused operational strategy centered on advancing SER-252, our lead candidate for advanced Parkinson’s disease, into clinical development. By achieving a debt-free balance sheet, we have strengthened our financial foundation, enabling us to accelerate our patient-driven mission. Additionally, this allows us to further explore the broad potential of our POZ Platform™ to address unmet needs across multiple therapeutic modalities, including small molecules, lipid nanoparticles (LNPs), and antibody-drug conjugates (ADCs).”
Source: globenewswire.com
