Panacea

Panacea (仙薬, Senyaku; literally "Elixir of Life"), also called panchrest (万能薬, Bannōyaku; literally "cure-all") or the Elixir of Immortality, is an alchemical elixir of as much worth as a Philosopher's Stone to an alchemist. It is supposedly a remedy that would cure all diseases and prolong life indefinitely.

Overview
As stated above, Panacea is equated with the philosopher's stone in alchemical worth, and is a legendary potion, or drink, that grants the drinker eternal life or eternal youth; as well as curing any disease of the drinker. Many practitioners of alchemy pursue it, though most find it to be simply a myth, as it isn't as present in modern life as a Philosopher's Stone. The elixir of life was also said to be able to create life.

There is no recorded time, in alchemical history, of the creation of such an elixir, though it is very common in alchemical theories. For decades, alchemists have searched for something to cure all diseases and grant immortality but to no avail. Even the arcane arts of Alkahestry, a healing form of alchemy, couldn't find the solution. In the modern age, there is only one known alchemist who still studies this elixir; Ryan Blackwood, an Arcadian alchemist. He is motivated by his sickly cousin, Matthew, who is suffering from a terminal illness.

In his studies, he has found out more about Panacea than any other alchemist in recorded history. For one, he has discovered the specific Transmutation Circle used to create the elixir, but he fears using it, not sure of what the price or Equivalent Exchange for such an object would be. He is currently studying that very thing.

Trivia

 * Panacea is based on an ancient alchemy theory of the same name and same properties.
 * A horror franchise known as the Puppet Master Series by Fullmoon Features features a elixr with the same properties as Panacea that is used to animate a group of puppets whose souls where transfred from deaceased bodies to the puppets,similar to Soul Binding except it requires the soul to have a stong will to live.Also it originated from Egypt,and was in possesion of a "Demon Lord" named Suteckh, while Penneca is pure science.