MINNEAPOLIS, April 7, 2021 /PRNewswire/ — FOXO Applied sciences Inc. (“FOXO”) as we speak introduced that it has closed a $10 million funding led by healthcare and know-how investor Bespoke Progress Companions, Inc. The funding represents the primary exterior capital FOXO has acquired and brings its complete funding to $40 million.
FOXO makes use of AI-driven bioinformatics and DNA microarray know-how to develop and commercialize epigenetic biomarkers of well being and getting older. FOXO sees broad software for its proprietary biomarker know-how for insurers, well being researchers, and life science corporations. This funding spherical will help FOXO’s mission to modernize life insurance coverage with the acquisition of Memorial Life Insurance coverage Firm of America, which upon regulatory approval and shutting, can be renamed FOXO Life.
“We’re coming into a brand new epoch in our understanding of organic techniques,” stated Jon Sabes, CEO and Founding father of FOXO. “The maturation of DNA sequencing know-how platforms coupled with AI and bioinformatic instruments is creating a brand new period within the science of well being and wellness. We’re harnessing these applied sciences to create proprietary, hyper-personalized epigenetic biomarkers of well being and wellness that work synergistically with life insurance coverage. Not solely will our know-how higher predict lifespan, however it would assist enhance it as effectively.”
With $40 million in funding secured to this point, FOXO supplies epigenetic biomarker providers with the Infinium Methylation Array and the Infinium Mouse Methylation Array, in addition to bioinformatics software program and AI-services with MethylSuite and DataRobot. FOXO plans to launch FOXO Life, which seeks to reimagine the position life insurance coverage performs within the well being of its prospects with life insurance coverage designed to maintain you alive. FOXO has additionally entered into analysis agreements with prime universities to additional its work in creating and commercializing epigenetic biomarkers of well being and wellness from knowledge wealthy longitudinal research.
The $10 million spherical was initiated and led by healthcare and know-how investor Bespoke Progress Companions, Inc. and Joseph Gunnar & Co., LLC acted because the unique placement agent.
About FOXO
FOXO Applied sciences Inc. makes use of AI-driven bioinformatics and microarray applied sciences to develop and commercialize epigenetic biomarkers of well being and getting older. FOXO supplies insurers, well being researchers, and life science corporations with laboratory providers, microarray design, and AI-driven bioinformatics software program options for producing novel health-based insights into lifespan. For extra details about FOXO, go to www.foxotechnologies.com or e mail [email protected].
SOURCE FOXO Applied sciences
