Longeveron wins $1M XPRIZE Healthspan milestone award

Longeveron Inc. (NASDAQ: LGVN) has been selected as one of 10 Milestone 2 Awardee teams in the XPRIZE Healthspan competition, earning a $1 million award to be applied toward a future competition clinical trial, according to a company press release.

Longeveron was chosen from more than 600 applicants across 58 countries based on published clinical trial results showing that its stem cell therapy laromestrocel increased six-minute walk distance in patients with aging-related frailty.

The XPRIZE Healthspan is a seven-year global competition with a total prize pool of $101 million. The competition requires teams to develop therapeutics that restore muscle, cognition, and immune function in adults aged 50 to 90 by a minimum of 10 years within one year or less of treatment. The 10 Milestone 2 Award-winning teams will each conduct coordinated clinical trials through 2029, competing for a grand prize of up to $81 million.

Laromestrocel is an allogeneic mesenchymal stem cell therapy isolated from bone marrow of young adult donors. The company states it has generated positive initial results across five clinical trials in three indications: Alzheimer's disease, aging-related frailty, and hypoplastic left heart syndrome. The therapy holds five U.S. FDA designations across those programs, including Orphan Drug, Fast Track, Rare Pediatric Disease, and Regenerative Medicine Advanced Therapy designations.

"We are extremely proud and enthusiastic to participate as a Milestone 2 Awardee of XPRIZE Healthspan," said Stephen H. Willard, Chief Executive Officer of Longeveron.

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