Longevity Biomedical
Definitive (DA signed)Pre-revenueHealth Care · biomedical technology and product development · Bothell, United States · founded 2021 · 1 employees
- What it is
- Consolidator model: acquires deprioritized development-stage medtech/biotech assets (Cerevast ultrasound therapeutics, Aegeria adipose biomaterial) at SPAC closing, then intends to add health-monitoring and digital-health products for the aging population; currently a shell financed by convertible promissory notes with going-concern doubt.
- What it’s doing now
- Merging with FutureTech II Acquisition Corp. (FTII) — definitive (da signed), announced Sep 16, 2024; expected close Q4 2025 (lapsed).
- What you should know
- It reports no meaningful revenue yet — this deal is priced on a story, not on financials. The deal carries a $128M minimum-cash condition — heavy redemptions can break it.
The business, per its filings
SEC primaryLongevity Biomedical, Inc. (Delaware, incorporated October 2021, HQ Bothell, WA) is - per its own S-4 - a recently-formed acquisition vehicle with NO operations, NO revenue and NO employees other than CEO Andrew Leo, operating out of Cerevast Medical's offices, funded by convertible promissory notes, with an accumulated deficit of $18.0M at 30-Jun-2025 and going-concern doubt; the operating businesses (Cerevast Medical, Inc. and Aegeria Soft Tissue, LLC, both development-stage; accumulated deficits $22.9M and $0.8M) are acquired via Contribution & Exchange agreements ONLY at the closing of the SPAC merger. The combined pipeline: LBI-201, a non-invasive transcranial-ultrasound device paired with thrombolytics for ischemic stroke (prior studies showed ~2x complete recanalization vs drugs alone; Phase 3 planned); LBI-101, an injectable off-the-shelf acellular adipose (allogenic) biomaterial for soft-tissue reconstruction that completed Phase 2 enrollment (lumpectomy/mastectomy reconstruction, wrinkle filling); and LBI-001, microspheres + ultrasound for retinal vein occlusion with Phase 1 safety data. Leadership per site: COO Andrew Leo (30+ yrs, ex-Cerevast, Sonus Pharmaceuticals; now also Longevity CEO per the S-4), CTO Francesco Curra, Ph.D. (ultrasound/HIFU); chair & chief scientific advisor Jennifer Elisseeff, Ph.D. (Johns Hopkins Translational Tissue Engineering); advisors include Mark Humayun (USC) and Andrei Alexandrov (UTHSC). Original Sept-2024 agreement (CEO then Bradford A. Zakes) was amended and restated 06-Aug-2025 at a $100M share consideration. THE FINANCIAL REALITY: zero product revenue anywhere in the structure ('To date, we have generated no revenue from our products'), combined pro-forma accumulated deficit ~$41.7M, and the SPAC trust was only ~$26.8M at the 2024 announcement, with FTII facing an August 18, 2026 completion deadline.
Source: 8-K, accession 0001493152-26-038635 · as of Nov 12, 2025 · extraction confidence: high
What the company says about itself
Web research — not auditedPresents itself as 'a clinical-stage biomedical company founded in 2022' with mission 'longer healthier lives'; the S-4 shows the corporate entity is an October-2021 shell and the clinical programs belong to Cerevast/Aegeria until closing.
- Markets:
- Soft tissue repair; ischemic stroke; retinal vein occlusion; corneal transplant (site also names it); therapeutics + monitoring + digital health for health span
- Products:
- LBI-101 acellular adipose biomaterial (Phase 2); LBI-201 transcranial ultrasound for ischemic stroke; LBI-001 microspheres+ultrasound for retinal vein occlusion
Website says 'Founded in 2022... clinical-stage biomedical company'; S-4 says incorporated October 2021 and describes a no-operations acquisition shell whose clinical-stage assets are only acquired at closing.
Source: https://www.longevitybiomedical.com · captured Aug 14, 2026 · marketing claims are reported as claims, never merged into the filed figures above.
The deal it’s entering
Longevity Biomedical is merging with FutureTech II Acquisition Corp. (FTII), a $115M SPAC currently marked Deal announced.
| Headline equity value | $100M |
| PIPE | ≈ $5M · unsourcedcommon @ $5.00: a subscription agreement to issue 1,000,000 shares of FutureTech Common Stock at the closing of the Business Combination for $5.00 per share and gross proceeds of $5.0 million (the "PIPE Investment"). |
| Minimum cash to close | $128M |
| Post-close ticker | LBIO |
Structure per SEC accession(s) 0001493152-25-006997, 0001493152-24-037691. How to read these numbers: headline vs effective valuation · what a definitive agreement commits
What exactly is being valued, and at what
Was this deal done at an expensive or a cheap valuation?
SpacBrain’s read on the price
No multiple can be computed
Longevity Biomedical, Inc. has no meaningful revenue yet, so no multiple is computable — this is priced on a story, not on financials. The deal still values it at $100M.
The company reports no meaningful sales yet, so there is nothing to divide the price by.
Announced equity value (net debt unknown).
No meaningful revenue in the most recent reported period.
Not computable — the filings show no meaningful revenue for the most recent reported period.
$1 of their sales costs $1.94 on the open market. Median of 5 listed companies we judged a true comparable, which individually run from 0.85× to 10.42×. Their share prices are from 15 August 2026, not today.
What qualifies the figures above
- The target's cash and debt are not in the filings we have, so this is an equity value used as a stand-in for enterprise value.
- FOCL, HUMA, NDRA, XSLL, BFLY, LTRN have no revenue to divide by, so they are shown but left out of the peer median.
The listed companies it is measured against
| Ticker | Company | Mkt cap | EV / revenue | EV / EBITDA | Why it’s comparable |
|---|---|---|---|---|---|
| IART | Integra LifeSciences Holdings C | $1.4B | 1.9x | 10.1x | Integra LifeSciences is the scaled listed player in regenerative tissue technologies and biomaterial implants - the commercial benchmark for LBI-101's soft-tissue reconstruction market.more ▾less ▴ |
| FOCL | Edap Tms SA | $123M | — | — | Operational comp: Advanced Medical Equipment & Technology (NEC); micro-cap ($123m); shares hifu, ultrasound, invasive, medical, via, devices with the target's own description; forward EV/Sales 2.4x.more ▾less ▴ |
| MDXG | MiMedx Group, Inc | $622M | 1.4x | 24.7x | MiMedx sells placental-tissue regenerative biologics for wound/soft-tissue repair - closest mid-cap comp for an allogenic tissue biomaterial business. |
| HUMA | Humacyte Inc | $185M | — | — | Operational comp: Biotechnology & Medical Research (NEC); micro-cap ($185m); shares acellular, tissue, scientific, medicine, stage, also with the target's own description; forward EV/Sales 27.7x.more ▾less ▴ |
| ORGO | Organogenesis Holdings Inc. | $230M | 0.8x | — | Organogenesis is a pure-play regenerative medicine company (skin substitutes, soft-tissue repair) with the margin structure Longevity's biomaterial would target.more ▾less ▴ |
| NDRA | ENDRA Life Sciences Inc | $5M | — | — | Operational comp: Biotechnology & Medical Research (NEC); micro-cap ($5m); shares ultrasound, tissue, then, invasive, are, with with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| PEN | Penumbra, Inc. | $12.9B | 8.3x | 60.8x | Penumbra dominates listed ischemic-stroke intervention devices - the category incumbent against which Cerevast's LBI-201 ultrasound approach would compete for stroke-care budgets.more ▾less ▴ |
| XSLL | Xsolla SPAC 1 | — | — | — | Operational comp: Corporate Financial Services (NEC); shares spac, revenue, share, generated, formed, merger with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| ESTA | Establishment Labs Holdings Inc | $2.4B | 10.4x | — | Establishment Labs (breast implants/Motiva) monetizes the same breast-reconstruction and aesthetics end-market LBI-101 targets with its post-lumpectomy soft-tissue filler.more ▾less ▴ |
| BFLY | Butterfly Network, Inc. | $964M | — | — | Operational comp: Advanced Medical Equipment & Technology (NEC); small-cap ($964m); shares ultrasound, devices, health, product, development, with with the target's own description; forward EV/Sales 18.7x.more ▾less ▴ |
| LTRN | Lantern Pharma Inc | $34M | — | — | Operational comp: Biotechnology & Medical Research (NEC); micro-cap ($34m); shares phase, tissue, soft, planned, span, pipeline with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
Which companies belong on this list is our judgement, and the sentence beside each one is the whole of our reasoning — disagree with it and the verdict above changes. Rows marked context only are shown because they are informative, but they are deliberately left out of the median. The multiples come from listed-company data priced Aug 15, 2026; a private target’s deal multiple is not audited the way theirs are.
Common questions
Is Longevity Biomedical going public?
Longevity Biomedical has a signed merger with the SPAC FutureTech II Acquisition Corp. (FTII), announced Sep 16, 2024. The combined company expects to trade as LBIO. Deal status: Definitive (DA signed).
What is Longevity Biomedical's SPAC deal valuation?
The announced headline equity value is $100M.
Was Longevity Biomedical bought at an expensive or a cheap valuation?
Longevity Biomedical, Inc. has no meaningful revenue yet, so no multiple is computable — this is priced on a story, not on financials. The deal still values it at $100M.
Does Longevity Biomedical have revenue?
No meaningful reported revenue in its most recent filed period — the deal is priced on a story and projections, not on financial results. Treat every valuation multiple accordingly.
Educational content, not investment advice.
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