Human Longevity, Inc., and Freedom Acquisition 1 announce their intention to combine

  • Listing to accelerate expansion of HLI clinics in key US and International locations to provide precision longevity medicine care to clients worldwide
  • Strategic owner Freedom Acquisition I led by Tidjane Thiam, Adam Gishen, and Edward Zeng to retain significant stake
  • HLI clinics demonstrate attractive returns and payback profile
  • Transaction values combined company at approximately $1.00 billion, providing HLI with funding to pursue growth and technology innovation
  • Anticipated transaction signing by third quarter of 2022 and closing by first quarter of 2023, subject to satisfaction of customary conditions

Human Longevity, Inc. (“HLI”), built by the pioneers of the human genome sequencing effort, and Freedom Acquisition I Corporation  a publicly traded special purpose acquisition company, announced today that they have signed a non-binding letter of intent for a proposed business combination that would result in HLI becoming a publicly listed company. Upon the closing of the transaction, the combined company would be expected to remain listed on the New York Stock Exchange under a new ticker symbol. There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated.

Human Longevity, Inc.

Pioneered by Dr. J. Craig Venter, listed in Time Magazine’s 2007 and 2008 TIME100 Most Influential People in the World, who significantly advanced the human genome sequencing effort, Human Longevity, Inc. is the global leader in advancing the Human Longevity Care movement, on a mission to discover and harness the technological and biological capabilities that amplify span of life, health, and high-performance. At its core, the company sets out to use data driven health tools to reduce the impact of preventable age-related chronic diseases.

HLI is a first of its kind AI-enabled personalized health intelligence platform that combines genome sequencing, whole body quantitative MRI and blood biomarkers, enabling early detection and disease-mitigating risk assessments of critical diseases. The company has invested over $500 million to date in R&D since 2013, providing a unique patient experience to predict lifetime and short-term risks related to chronic age-related disease. This technology allows HLI to identify disease early, helping to avoid premature death, reduces the risk of catastrophic costs associated with late-stage diagnosis and extends the healthy human lifespan.

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Through its premier Human Longevity Care membership program, created by the foremost experts in human longevity to proactively lead members to a longer, healthier life. Picking up where even the most modern healthcare reach stops, Members receive the highest global standard in advanced Human Longevity Care built on cutting-edge genomic insights, whole body quantitative imaging, AI-driven risk detection and prevention, and state-of-the-art brain & body performance insights and interventions.

100+ Total Self Health Assessment:

Members receive 360-degree in-depth precision mapping of their complete self health, including whole genome sequencing, blood-based biomarkers, whole body imaging, bone & muscle strength analysis, nutrition & lifestyle habits, and more. From day-to-day primary care health assessment to the world’s most advanced longevity care mapping, 100+ Members receive complete personalized insight into their whole self health.

Personal Longevity Precision Medicine Physician:

Members receive a dedicated top-tier physician as their personal longevity leader to help them establish and navigate their personalized longevity roadmap built on their unique genome, biology, lifestyle, and longevity vision. The company’s Longevity physicians harness state-of-the-art longevity care technologies and a multi-disciplinary team of experts worldwide to provide access to year-round precision medicine care service custom tailored to each step of member’s personal longevity plans.

Human Longevity, Inc. was founded by genomic pioneer Dr. J. Craig Venter in 2013 and is currently led by Executive Chairman Dr. Wei-Wu He and President Dr. David S. Karow M.D, Ph.D.

Freedom is led by Executive Chairman Tidjane Thiam, formerly CEO of Credit Suisse and Prudential Plc, and Chief Executive Officer Adam Gishen, together with Edward Zeng, a proven entrepreneur with a strong track record of creating value for investors across technology and new lifestyle investments. Tidjane Thiam will join the Board of HLI following close of the transaction.

Dr J. Craig Venter Ph.D. and Co-Founder of HLI said “This is an exciting development for HLI and should allow the company to expand its influence in changing how medicine is practiced. Using advanced MRI imaging, genomics and other non-invasive testing, HLI can detect the presence of diseases, including cancer, at early stages before they become symptomatic. Up to 50% of self-described healthy individuals who have gone through the HLI Health clinics have benefitted from early diagnosis of conditions, many of which have been lifesaving. I am proud of what HLI has accomplished to date and look forward to an exciting future”.

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“At HLI, we truly believe that data-driven technologies such as genome sequencing, AI, whole-body MRI will revolutionize human healthcare. We have invested for almost 10 years and over $500 million with an exceptionally dedicated team to put these technologies together to make this a reality for people to delay age-related chronic diseases. We believe this platform will save millions of lives and significantly reduce healthcare cost in the future.” Said Dr. Wei-Wu He. “We are excited to find a like-minded partner at Freedom. “

“We believe the opportunity to democratize and make globally available precision and preventative treatment is exciting and presents a huge opportunity, not only to extend healthy human lifespans but also to drastically reduce the burden placed on health systems in many economies,” said Tidjane Thiam, Chairman of Freedom. “HLI is led by a management team of exceptional quality who have built the leading AI-enabled Health intelligence platform in the US with the opportunity to scale it internationally, addressing the significant opportunity that exists for all to extend their heathy human lifespan. The HLI proposition is attractive to individuals, insurance companies and many healthcare stakeholders, providing great opportunities for sustained, long term growth. We could not be more excited to partner with Wei-Wu and the team as they continue to scale their business globally.”

Edward Zeng, Founder of NextG Tech and deputy Chairman of Freedom Acquisition said “I believe under Tidjane’s global reach and Adam’s execution capabilities, Freedom is well positioned to assist HLI in delivering long term growth and scale. This is an incredibly exciting business combination as HLI’s AI driven health intelligence platform will drive a breakthrough in human longevity healthcare and become available to a wide variety of patients as costs continue to reduce. It is my belief that the very best Special Purpose Acquisition Companies, together with management teams of the highest calibre can create meaningful value for shareholders over time.”

Terms of Letter of Intent

Completion of the proposed transaction is subject to, among other matters, the completion of due diligence, the negotiation and execution of a definitive business combination agreement (the “Business Combination Agreement”), approval by Freedom’s and HLI’s boards of directors, satisfaction of the conditions negotiated in the proposed Business Combination Agreement and approval of the proposed transaction by Freedom’s shareholders. Accordingly, there can be no assurance that a Business Combination Agreement will be entered into or that the proposed transaction will be consummated. Further, readers are cautioned that those portions of the Letter of Intent that describe the proposed transaction, including the consideration to be issued therein, are subject to change.

Assuming Freedom and HLI enter into the proposed Business Combination Agreement, the parties currently expect to seek approval from Freedom’s shareholders by the first quarter of 2023.

The Letter of Intent provides for the new public company to receive $345 million from Freedom’s trust account, assuming no Freedom shareholders exercise redemption rights.

Contingent upon execution of the Business Combination Agreement, Freedom would file a registration statement with the SEC, which would include a proxy statement/prospectus, and each party would file other documents regarding the proposed transaction with the SEC.

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