Investing in Longevity Tech
Ventures Adding Years of Vitality
The Fountain of Youth. Cryonic preservation. The digital capture of human consciousness. Throughout history, humankind has pursued the idea of “eternal life.” Previous results have been mixed, at best. But with the emergence of a new sector — longevity technology — there is renewed hope that humans can enjoy longer and healthier lives.
In this blog, we’ll take a look at this fascinating field through our perspective as venture capitalists. Beyond exploring what longevity tech is, we’ll look at some innovative startups gaining traction. And if you’d like to hear from some of the entrepreneurs in the space, sign up for our webinar.
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STATE OF PLAY
The intersection of science, technology, and healthcare has given rise to the groundbreaking sector of longevity technology. This new discipline combines the use of technology and medicine to increase the healthy lifespan of individuals and includes areas such as anti-aging, biotechnology, research, investment, and supplements. Longevity tech also encompasses methods to prevent the onset of diseases. Breakthroughs in the studies of why and how humans age and interventions to slow the process are fueling the possibility that humans may surpass current life expectancies.
The benefits of this field extend beyond simply living longer. Today, aging is recognized as the foundational contributor to numerous chronic diseases. Delaying or avoiding diseases and enjoying longer, healthier lives can benefit individuals and society through potential economic contributions of productive seniors and tremendous savings in healthcare costs.
Dr. Peter Attia, a prominent figure in the field of longevity tech, specifically highlights the “Four Horsemen” — heart disease, cancer, neurogenerative disease, and diabetes — as conditions that cause a vast majority of deaths. He sees these areas as having significant opportunities for treatment improvements. In fact, the true potential of longevity tech lies in its capacity to replace conventional healthcare treatments. For example, pioneering biotech companies like UK-based First Technology project an annual market value exceeding $127 billion for diseases such as Type 2 diabetes that can be addressed with longevity innovations.
The promise of these benefits has also attracted considerable investment into companies developing novel solutions. In 2022 alone, a staggering $5.2 billion was injected into 130 longevity business deals (Yahoo Finance). Most notable was a $3 billion investment into Altos Labs, a developer of solutions to restore cell health and resilience to reverse disease, injury, and disabilities.
In 2023, like many other sectors, longevity tech investing has been somewhat depressed in the face of difficult global macroeconomic conditions. Despite these fluctuations, both we and other industry watchers remain optimistic about the future due to a rapidly aging population that continues to drive demand for longevity innovation.
The longevity ecosystem has already seen an influx of funding from investors, academic institutions, and governments. This can be partially attributed to the growing aging population and their desire to maintain their health and quality of life in combination as they age. By 2030, the 50+ market is projected to swell to 132 million people — who are expected to spend an average of $108 billion every year on tech products.
LONGEVITY FRONTIER
Longevity tech spans multiple verticals that can be broadly categorized into four pillars: prevention, diagnostics, treatment, and renewal. The applications with the most activity and by extension investment are:
- Gene Therapy. The use of genetic interventions to address age-related issues and promote healthier aging.
- Age Tech. Technology solutions tailored to the needs of aging populations, including products and services that enhance the quality of life for older individuals.
- Senolytic Drug Therapy. Therapies targeting senescent cells (cells that no longer multiple but don’t die off and can release harmful chemicals) to address age-related conditions.
- Artificial Intelligence (AI). Developments in areas such as personalized medicine, drug discovery, and health monitoring.
- Biohacking. Incremental changes individuals make to their bodies, diet, and lifestyle to improve their health and well-being.
While each of these applications is at the forefront of innovation and investment, lifestyle changes and early detection technology also play a critical role in promoting healthier aging, preventing and addressing chronic diseases, and enhancing the quality of life for aging populations. Lifestyle changes, such as improvements in sleep, nutrition, and exercise, have been shown to enhance healthspan and reduce the risk of disease. Coupled with early detection methods that monitor and identify biomarkers for quick and accurate discovery of age-related conditions, longevity tech will enable people to access faster, more efficient interventions and treatments. In turn, this has the ability to extend healthspan and minimize the impact of age-related chronic diseases.
Example Longevity Tech Innovators
- Bionic Health (AV Portfolio Company)
- Pillar: Prevention / Diagnostics
- Application: Artificial Intelligence (AI)
Bionic Health is a startup building an “AI Health Clinic” delivering personalized medical advice with a goal of maximizing life and healthspan. The company was founded in 2022 and is led by a team of healthcare experts who believe the traditional annual visit is not enough to optimize health.
Bionic’s alternative: Its AI health platform provides preventative healthcare solutions based on the unique needs and goals of a patient. Patients begin by submitting their medical history, key biomarkers, and comprehensive diagnostics. Bionic then leverages machine learning to provide them with regular, customized treatment plans with an emphasis on slowing aging, personalized insights, and access to physician-monitored preventative care. This approach is intended to deliver a more scalable and customizable platform rather than a purely digital solution. To aid in this process, Bionic has partnered with Microsoft, which allows them access to GPT-4 and earned the company a spot in MS’s incubation program.
Bionic is first targeting patients who are experiencing chronic pain or a virus. Longer term, Bionic plans to extend into all aspects of doctor-patient care. In March of 2023, Bionic closed a $3 million Seed round, with participation from Alumni Ventures, AI Operator’s Fund, and IDEA Fund Partners. Bionic has since received additional investments from Betaworks, Greycoft, Mozilla Ventures, and Differential VC.
- Elevian
- Pillar: Renewal
- Application: Senolytic Therapies
Elevian is a Series A biotech startup developing medicines to halt and reverse molecular damage. Spun out from Harvard University, Elevian plans to address multiple age-related diseases but will start with one of the leading causes of death: strokes. When a person suffers a stroke, sometimes called a brain attack, something has blocked blood supply to part of the brain or a blood vessel in the brain has burst. In either case, parts of the brain become damaged or die. A stroke can cause lasting brain damage, long-term disability, or even death.
Elevian’s recombinant protein — called rGDF11 — has shown it can help recover motor function in well-established animal models of strokes. rGDF11 promotes new blood vessel formation, stimulates new neuron formation, and reduces inflammation. rGDF11 has also promoted recovery and regeneration in several preclinical models of aging-related diseases — including cardiovascular, neurological, metabolic, pulmonary, renal, inflammatory, and skeletal muscle dysfunction.
Thus far, Elevian has raised over $60 million from investors like Bold Capital Partners and Prime Movers Lab and is now valued at $100 million. The company has completed the discovery phases of its drug development process and is in preclinical trials with laboratory and animal models. Upon successful completion, they will progress to Phase I (of III) of human drug trials.
- Sunbird Bio (AV Portfolio Company)
- Pillar: Diagnostics
- Application: Age Tech
Sunbird Bio is an early-stage, biotech developing protein-based diagnostic tests. These tests are aimed as providing advanced insights to enable earlier, more accurate diagnosis and treatment of neurological disorders and early-stage cancer. Their first target is Alzheimer’s disease. Although founded only in 2020, the company recently completed a strategic merger with Glympse Bio, but will continue operating under the Sunbird Bio brand. This consolidation will allow the two entities to propel diagnostic platform development and enhance their collective capabilities in the field of protein diagnostics.
Notably, Sunbird Bio is the first to successfully overcome the challenge of accurately detecting proteins from a blood draw. With a sample, the company’s APEX technology platform can detect properties and activities of proteins attributed to Alzheimer’s. With the growing availability of medications developed to slow progression of this irreversible disease, the ability to provide an accurate and timely diagnosis is increasingly critical. So far, Sunbird has raised capital from Alumni Ventures, Section 32, and Polaris Partners to continue accelerating its work.
- Retro Biosciences
- Pillar: Renewal
- Application: Gene Therapy / Senolytic Drug Therapy
Although Retro Biosciences (Retro) only emerged from stealth mode in 2022, it has already received attention and investment from the likes of Sam Altman, CEO of OpenAI, who put $180 million into the biotech. Retro’s mission is to extend healthy human lifespan by 10 years, focusing on the cellular drivers of aging. The company is creating therapies that can reprogram the body’s cells to repair themselves and prevent age-related diseases. Therapies would focus on three key areas: cellular reprogramming, autophagy, and plasma-inspired therapeutics.
Retro has already begun the testing phase for multiple therapies. The anti-aging startup shared that a molecule in its autophagy (body’s process of reusing old and damaged parts) program will enter clinical trials next year. In its plasma program, it is characterizing and optimizing plasma interventions in both preclinical and clinical settings, with the first candidate expected in two years’ time. The company’s cellular reprogramming effort will work towards a clinical proof-of-concept over the next four years.
Retro has indicated that Altman’s singular investment will ensure the company’s operations for the coming years. Nevertheless, there could be future investment opportunities and certainly much potential for the company once their therapies are commercially available.
THE LONGEVITY STORY CONTINUES…
Startups like these illustrate the diversity and potential in startups redefining the aging experience. Certainly there are challenges ahead for the sector. Beyond the issue of funding, there are also regulatory and ethical questions that demand careful consideration. Striking the right balance between rapid advancements and responsible development will be critical to the sector’s growth. Moreover, the potential for unequal access to revolutionary technologies must be faced and addressed.
But we don’t think any of these issues are insurmountable. And the promise of startups like these to change the human experience for better is compelling and credible. We plan to continue to invest in the sector and entrepreneurs like these. If you’d like to learn more about longevity, please join our webinar. We’ll dive deep into the technologies, trends, and innovative companies at the forefront of longevity tech. Sign up here.
About the Author
Brittney Wade is Senior Associate for AV’s Seed Fund. Brittney has product and operational experience from her time with enterprise and startup companies. Most recently, she worked with Trove, a Series D startup, where she led product development for the launch of Canada Goose’s first circular economy program. Brittney is a graduate of Columbia University and holds an MBA from the Tuck School of Business at Dartmouth.
About Alumni Ventures
Alumni Ventures offers accredited individuals access to professional-grade venture capital, a key asset class missing from the portfolios of many sophisticated investors. Since 2014, AV has raised more than $1.2 billion across 40+ Alumni and Focused Funds, serving a growing network of 9,500+ investors and 600,000+ community members. AV evaluates hundreds of investment opportunities every year and has backed 1,200+ unique portfolio companies. Alumni Ventures is the #1 most active venture firm in the U.S., and #3 most active in the world, according to PitchBook’s 2022 rankings. AV funds are private, for-profit, and not affiliated with or sanctioned by any school. For more information, visit av.vc.