The Longevity Biotechnology Industry
The longevity biotechnology industry is rapidly evolving with the amount of academic funding and venture investment increasing at an exponential pace. Over thirty longevity startups and approximately the same number of investors and funding organizations took part in the 10th Aging Research and Drug Discovery (ARDD) meeting in Copenhagen in 2023. Many of them sponsored the meeting. Recently, we introduced a free online course “Investing in Longevity” which is mostly a cautionary tale explaining the many failures and failed promises. We were very surprised when several hundred learners registered in a short period of time. Multiple learners indicated that they are planning to launch or spin off funds to invest in longevity biotechnology companies.
A History of Aging Research
Looking at the recent media headlines, it is easy to get the impression that aging research is a very new field that emerged over the past few years and scientists started making breakthroughs that will turn into trillion-dollar companies. While it is true that we saw many notable advances in recent years, many similar headlines appeared over 50 years ago. Blood transfusions from young to old were pioneered back in the 1920s by Alexander Bogdanov and multiple books on senescence were published by Alex Comfort since the 1950s. Longevity biotechnology is also not new. In his book, “Merchants of Immortality: Chasing The Dream of Human Life Extension” first published over twenty years ago in 2003, Stephen S. Hall reviewed a number of companies that attempted to take on aging directly. Some of the entrepreneurs profiled in that book, most notably Dr. Michael West, the founder of Geron Corporation, are still active today. Geron was founded in 1990 with backing from notable biotechnology investors to go after aging with telomerase activation but changed its focus multiple times since then. In my opinion, at the time of the founding, Geron was the first company that fit the definition of a longevity biotechnology company. Jim Mellon, the co-founder of Juvenescence, also covered some of the more recent examples of longevity biotechnology companies in his book “Juvenescence: Investing in the Age of Longevity” published in 2017.
Lessons for Investors and Entrepreneurs
Every investor or biotechnology entrepreneur should consider studying the history of longevity biotechnology as it is filled with valuable lessons. I learned two main lessons from twenty years in this industry. The first is that if you do not establish a credible and sustainable business model that fits the current healthcare industry framework, you will fail. The second is that no amount of startup funding will be sufficient to develop a drug targeting aging. You need to go after specific diseases to get the drug approved. The good news is that if the drug works in aging, it will work in some age-related diseases. But there are no quick hacks – you need to take the drug through all the clinical trials as a biotechnology company to develop a successful longevity enterprise.
The Importance of Standards
The longevity biotechnology sector is a rapidly evolving field, with numerous companies striving to combat age-related diseases and enhance human healthspan. As this domain flourishes, the need for clear definitions and rigorous standards becomes paramount to distinguish genuine, evidence-based initiatives from mere commercial claims. In 2021, the Longevity Biotechnology Association (LBA) was formed to give this new industry a unified voice and a platform to develop a set of standards. The LBA focuses on education, collaboration, advising newcomers, and working with regulators. Recently, the LBA members published a research paper titled “Defining a Longevity Biotechnology Company” in the top biotech industry journal, Nature Biotechnology. This paper highlights the importance of defining longevity biotechnology companies based on their mission to target the fundamental mechanisms of aging. These companies aim to develop interventions that not only treat but potentially prevent multiple age-related chronic diseases. The paper provides specific criteria for classifying a company as a longevity biotechnology company (LBC).
Insights from Industry Leaders
To gain a deeper understanding of the paper, several authors shared their insights. Risa Starr, Executive Director of the Longevity Biotechnology Association (LBA), explains that an LBC has a mission of preventing or reversing age-related disease and extending healthspan, uses a strong evidence base, conducts randomized controlled double-blinded studies, and tests the geroscience hypothesis. Dr. Kristen Fortney, CEO of BioAge, defines a longevity biotechnology company as focused on developing interventions that target the biological drivers of aging. James Peyer of Cambrian BioPharma further elaborates on LBCs as companies that develop drugs targeting the causes of disease at the cellular level. These definitions are crucial in ensuring legitimacy and advancing pioneering medicines with transformative potential.
Investor Considerations
With increasing investment interest in the longevity biotechnology sector, investors should evaluate the premise, product pipeline, patents, management, partnerships, cash position, financials, translational science, and clinical development strategy of potential companies. The goal is to prioritize companies that have the potential to not only treat but also prevent diseases. By adhering to defined criteria and discerning potential LBCs, investors can contribute to the advancement of human healthspan.
A Promising Future
The field of longevity biotechnology holds immense promise for transforming aging and healthspan extension. Continued collaboration, research, and adherence to standards will propel the industry forward and pave the way for groundbreaking advancements in aging research and human healthspan enhancement.
