Clinical stage ‘mitochondrial augmentation’ technology aims to restore cellular energy and function across multiple organ systems.
Longevity-focused Israeli biotech Minovia Therapeutics announced it plans to go public via a merger with Launch One Acquisition Corp., a healthcare-focused special purpose acquisition company (SPAC). The combined company will focus on advancing Minovia’s proprietary platform targeting diseases driven by mitochondrial dysfunction.
A SPAC is a publicly traded shell company that enables a private company to become publicly listed without going through the traditional IPO process. The proposed merger is set to result in the creation of a new publicly traded entity, called Mito US One, expected to be listed on the Nasdaq. The transaction assigns Minovia a pre-money equity valuation of $180 million and includes provisions for a $5 million bridge financing round and a potential earnout of up to $57.5 million in equity. The merger is anticipated to conclude in Q4 2025.
Minovia’s approach addresses mitochondrial failure as a root cause of multiple health conditions. The tiny mitochondria in our cells play a central role in age-related diseases and longevity by regulating energy production, oxidative stress and cellular health. When mitochondrial function declines with age, it leads to increased oxidative damage, impaired metabolism and the progression of age-associated disorders. The company’s proprietary “mitochondrial augmentation technology” (MAT), is built around the delivery of healthy mitochondria to damaged cells, aiming to restore cellular energy and function across multiple organ systems, and is currently being developed for both rare genetic disorders and broader age-related conditions.
Minovia’s lead program, an autologous stem cell therapy enriched with donor mitochondria, is under clinical investigation for Pearson Syndrome and low-risk myelodysplastic syndrome, two disorders linked to mitochondrial failure. Beyond rare diseases, Minovia revealed it intends expanding into the longevity and regenerative medicine market, aiming to launch MAT-based offerings through global clinic partnerships beginning in 2026. The company claims its preclinical studies demonstrate MAT reverses biological aging markers and delivers cognitive improvements in aged animal models.
“Minovia is pioneering a new category of mitochondrial therapy that targets the root cause of disease and aging — mitochondrial failure,” said Minovia co-founder and CEO Dr Natalie Yivgi-Ohan. “Our research has already demonstrated durable safety and life-changing impact in patients, including children with genetic mitochondrial disease and older adults with hematologic and kidney dysfunction. Supported by clinical data, FDA Fast Track Designation, and a clear path to pivotal trial, we believe our MAT platform is uniquely positioned to drive value across both rare disease and the fast-growing longevity market.”
Minovia says its clinical data collected to date suggest MAT may help stabilize or improve outcomes in patients with mitochondrial diseases, without associated drug-related adverse effects. In trials involving patients with various mitochondrial disorders, the company reported outcomes including improved weight gain, restored kidney function, enhanced mobility and stabilized blood parameters, and suggests its data provides evidence of a foundational therapeutic mechanism that could be applied across various disease settings.
The financial structure of the merger is intended to provide Minovia with the resources to advance its pipeline, complete regulatory submissions and begin commercializing its MAT-based therapies. According to the company, Launch One’s trust account currently holds nearly $240 million, and while the exact proceeds will depend on shareholder redemptions, at least $18 million in private investment in public equity (PIPE) is expected at closing. The bridge financing and any remaining trust capital will support the company’s ongoing trials, regulatory engagement and the scaling of its operations, including the establishment of US-based GMP manufacturing capabilities by the end of 2025.
