News Release

Hevolution Foundation announces $20 million Impact Investment to advance promising aging therapies, leading a $50 million Series A Extension in Aeovian Pharmaceuticals

Business Announcement

Hevolution Foundation

Dr. William Greene


Dr. William Greene, Chief Investment Officer, Hevolution Foundation

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Credit: Hevolution Foundation

BOSTON, United States  — 28 March, 2024  — Hevolution Foundation announced its first life science impact investment of $20 million to help Aeovian Pharmaceuticals advance its innovative platform of selective mTORC1 inhibitors which could lead to several promising therapies for disease of aging. This investment – the leading contribution in a $50 million Series A financing extension for Aeovian – has the potential to address major unmet medical needs including TSC refractory epilepsy, neurological diseases, and prevalent diseases of aging.  

“Hevolution stands out as a global nonprofit, having allocated over $250M towards healthspan research grants and partnerships since 2021. Our inaugural impact investment in Aeovian is another landmark moment for us, furthering our mission by laying the groundwork to encourage more companies and investors to engage with the healthspan field through promising early-stage biotech companies like Aeovian. We remain unwavering in our commitment to drive growth, innovation, and cooperation in this scientific field, with the ultimate goal of enhancing healthy human healthspan," stated Dr. Mehmood Khan, CEO of Hevolution.”   

After careful evaluation of over 200 opportunities, Hevolution selected Aeovian based on the company's success in drug discovery, its expertise in development, the potential for commercialization, and its compelling platform for the discovery of selective mTORC1 inhibitors.  

Strategic collaborations focused on advancing the healthspan sector are integral to Hevolution’s investment approach. As the lead investor, Hevolution is joined in this investment by Apollo Health Ventures, Sofinnova Investments, venBio, Evotec, and b2venture. Hevolution’s Chief Investment Officer William Greene, M.D. will also join Aeovian’s Board of Directors, bringing over 25 years of leadership experience as a founder, biotechnology executive, investor, and clinician. 

“The entire Aeovian team welcomes Hevolution and Dr. Greene as we transition to a clinical-stage company” said Allison Hulme, Ph.D., President and Chief Executive Officer, Aeovian Pharmaceuticals. “We are delighted to partner with Hevolution to develop therapeutics with the potential to precisely target the underlying biology of both rare and age-related diseases, thereby addressing significant unmet medical needs and serving broad patient populations.” 

This investment underscores Hevolution’s commitment to increase the number of safe and effective treatments entering the market, compress the timeline of drug development, using the latest tools and technologies and increase accessibility to therapeutics that extend healthy lifespan. It follows Hevolution’s launch of the Breakthrough Innovation Alliance at the Global Healthspan Summit in November 2023. To date, Hevolution has committed more than $250 million in scientific funding to catalyze the healthspan ecosystem. 

About Hevolution Foundation 

Founded on the belief that every person has the right to live a longer, healthier life, Hevolution Foundation is a global catalyst, partner, and convener on a mission to drive efforts to extend healthy human lifespan and understand the processes of aging. With a focus on aging as a treatable process, Hevolution Foundation aims to increase the number of aging-related treatments on the market, compress the timeline of drug development, and increase accessibility to therapeutics that extend healthy lifespan, also known as healthspan. A global non-profit organization headquartered in Riyadh with a North American hub in Boston and an annual budget of up to $1 billion, Hevolution Foundation plans to open offices in other global locations to support a cutting-edge, global ecosystem of talent to propel aging and geroscience research forward and achieve medical breakthroughs to help humanity live healthier, longer. To date, Hevolution has committed $250 million to drive scientific discoveries to make aging healthier for humanity.   

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