Life Length, a Spain-based telomere diagnostics and analyses company, is set to close its equity crowdfunding campaign on Crowdcube with more than £2.1 million in funding from nearly 1,000 investors. The campaign was launched earlier this summer and quickly raised £650,000 funding target.
As previously reported, Life Length describes itself as a biotech company created to bring to the market the most accurate telomere length analysis technology in the world. The company stated:
“Life Length was established to commercially exploit telomere length and telomerase activity measurement technologies, serving to the pharmaceutical industry, clinics and hospital, as well as research laboratories interested on bringing telomere and telomerase analysis into their studies and research projects.”
The ProsTAV is notably the company’s sophisticated prostate cancer risk score test that was developed with its proprietary technology thanks to a clinical study involving 1,200 prostate biopsied patients. Life Length further explained:
“Combined with the current screening methodology, this simple blood test can save hundreds of thousands of men each year from unnecessary biopsies, surgeries and needless complications. Our new test, less expensive and invasive than a biopsy, could save up to 50% of these unnecessary biopsies. It is a huge market with an estimated 6 million cases worldwide. In the UK, it is one of the most frequently diagnosed cancers (over 50,000 annually).”
Funds from the Crowdcube round, which is set to close later today, will be used to continue the growth and expansion of Life Length’s technology. The company is currently offering 5.78% in equity at a £34,400,000 pre-money valuation.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!