Telomir Pharmaceuticals (NASDAQ: TELO) has secured a $3 million equity investment from its largest shareholder, The Bayshore Trust, signaling continued confidence in the company's innovative approach to age-related medical research. The investment involves the purchase of 1 million restricted shares at $3.00 per share, representing an 18% premium to the stock's previous closing price.
The funding will support the company's advanced pipeline, which includes two key drug candidates: Telomir-1, a first-in-class age-reversal molecule, and Telomir-Ag2, a stabilized Silver(II) compound targeting drug-resistant infections. CEO Erez Aminov emphasized the investment's shareholder-friendly structure, noting there are no warrants or toxic financing mechanisms involved.
Telomir's primary focus is developing Telomir-1, a novel small molecule designed to lengthen telomeres—the protective end caps of chromosomes. As humans and animals age, telomere shortening increases vulnerability to degenerative diseases. The company plans to submit an Investigational New Drug (IND) application for Telomir-1 by year-end, with an initial concentration on rare disease indications to demonstrate early therapeutic efficacy.
The new investment brings Telomir's total equity funding from affiliated entities to $4 million, complemented by an undrawn $5 million non-dilutive credit line. This financial positioning provides the company with substantial resources to advance its preclinical research and potentially revolutionize approaches to aging and age-related health challenges.
