HONG KONG, Dec. 15, 2020 /PRNewswire/ -- Regent Pacific Group Limited ("Regent Pacific" or the "Company" and together with its subsidiaries, the "Group"; Hong Kong stock code: 0575.HK), a specialist healthcare, wellness and life sciences investment group is pleased to announce that it has successfully completed its previously announced acquisition of Deep Longevity, Inc ("Deep Longevity") (the announcement dated 2 September 2020), a pioneer in deep biomarkers of aging and longevity on 14 December 2020 (the "Closing Date").
Pursuant to the Share Purchase Agreements, Regent Pacific has acquired all the issued and outstanding securities in Deep Longevity at the total consideration of US$3.79 million (or approximately HK$29.59 million), which was satisfied by the issue and allotment by the Company of an aggregate of 422.69 million consideration shares.
Jamie Gibson, Chief Executive Officer of Regent Pacific, said, "We are delighted to have completed the acquisition of Deep Longevity as it signifies a major milestone in our development in becoming a global end-to-end longevity and wellness biotechnology company. Deep Longevity provides users with the most efficient, reliable and useful aging and longevity clocks that can help people live better, longer and healthier lives, with its patented DNA deep methylation clock being the most accurate in its field. Deep Longevity possesses first-mover advantage in Asia, has state-of-the-art technology driven by AI and aspires to be a leader in the field of machine learning for personalised preventative healthcare and longevity interventions. The acquisition will allow Regent Pacific to expand into the global wellness market that was estimated to be over US$4.20 trillion in 2017. Deep Longevity's sophisticated AI system is uniquely able to track the rate of human aging and evaluate the effectiveness of longevity interventions."
"We are pleased to reach this important milestone for Deep Longevity. As part of Regent Pacific, we are excited to add our scientists and experts to the Group which aim to serve the longevity biotechnology industry as well as the health and life insurance industries and become the ultimate instrument to hedge the longevity risk." said Alex Zhavoronkov, PhD, the founder and CEO of Deep Longevity.
About Regent Pacific (Stock code: 0575.HK)
Regent Pacific is a diversified investment group based in Hong Kong currently holding various corporate and strategic investments focusing on the healthcare, wellness and life sciences sectors. The Group has a strong track record of investments and has returned approximately US$298 million to shareholders in the 23 years of financial reporting since its initial public offering in May 1997.
About Deep Longevity
Deep Longevity is developing explainable artificial intelligence systems to track the rate of aging at the molecular, cellular, tissue, organ, system, physiological, and psychological levels. It is also developing systems for the emerging field of longevity medicine enabling physicians to make better decisions on the interventions that may slow down, or reverse the aging processes. Deep Longevity developed Longevity as a Service (LaaS)© solution to integrate multiple deep biomarkers of aging dubbed "deep aging clocks" to provide a universal multifactorial measure of human biological age. Originally incubated by Insilico Medicine, Deep Longevity started its independent journey in 2020 after securing a round of funding from the most credible venture capitalists specializing in biotechnology, longevity, and artificial intelligence. ETP Ventures, Human Longevity and Performance Impact Venture Fund, BOLD Capital Partners, Longevity Vision Fund, LongeVC, co-founder of Oculus, Michael Antonov, and other experts AI and biotechnology investors supported the company. Deep Longevity established a research partnership with one of the most prominent longevity organizations, Human Longevity, Inc. to provide a range of aging clocks to the network of advanced physicians and researchers.
This press release is distributed by LBS Communications Consulting Limited.
