Posts

Jim Mellon – Investing in the Age of Longevity

Interview with hugely successful investor Jim Mellon at the Undoing Aging conference in Berlin 2019!
We cover reasons why it’s a good time to invest in Anti-Aging and rejuvenation biotechnology today, the ethical reasons why we should, and effective advocacy: i.e. what one would say to a billionaire to convince them that investing in longevity medicine is a good thing to do now.
Jim raised over $150 Million for his venture Juvenescence recently!

Transcript

My name is Jim Mellon, and I’m the chairman of Juvenescence, which is a company involved in the science of longevity. It is relatively recently formed; it is about a year and a bit old, but we’ve raised a significant amount of funding – nearly $160 million now – in the last year to advance the cause of longevity science. By the end of this year, we’ll have made 18 investments. Most of them are subsidiary companies of ours, so we control those companies. We give both development and financial backing to the scientist-entrepreneurs and institutions that we collaborate with.

I am fortunate to have two partners who have broad experience in the biotech and healthcare area, in particular, Declan Doogan, who was the head of drug development at Pfizer for a long period, and then he became the CEO of Amarin, which, as you know, is a very successful biotech company with a nearly $10 billion market valuation today. About four years ago, the three of us started a company called Biohaven, which is now listed on the New York Stock Exchange and has a valuation of about $2.5 billion. The company has approval for a drug for migraine, which will be on the market in the US next year. There is a good team of veteran drug developers and business entrepreneurs who have come together to create this Juvenescence company, and we’re very, very excited about it. We’re the biggest investors in the company ourselves, on the same terms as other investors. We will take the company public in the first quarter of next year, barring market disasters, and probably on the US stock exchanges.

We’re interested in this field of longevity science and able to raise significant funding because we’ve been in biotech for quite a long period of time, together, and created a number of companies. It seemed to be a natural outgrowth of the great developments that have occurred in the last few years. The unveiling of the human genome identified aging pathways that can now be manipulated. For the first time ever, you and I are in the cohort that is able to be bioengineered to live a healthier and longer life. It is still in a very primitive stage; we’re in the internet dial-up era equivalent, but the science is advancing very quickly.

I always say that I wrote my first book on biotech seven years ago, it was called Cracking the Code, and since then, we’ve had CRISPR/Cas9, which didn’t exist seven years ago, we’ve had the cure for Hepatitis C, we’ve had artificial intelligence for the development of novel compounds. The latter of which is a key part of our strategy, as investors in In Silico Medicine, which I think you are familiar with. Then, of course, you have cancer immunotherapy, which didn’t exist seven years ago, and is now a $100 billion / year industry. So, what’s going to happen in the next seven years? We don’t know, but it’s going to be very, very good. If you want to regard it as a casino table, we’re covering all the markers that we can with the funds that we’ve raised. We hope to raise a substantial further amount on the initial public offering of the company in the first quarter of next year, and that will give us enough firepower to do five Phase 2 trials without partners so that we can get the maximum leverage on the products that we’re developing.

So far, we’ve invested in small molecules, which is the specialization of our team. For instance, we have a senolytic drug in development in that area. We’ve also invested in stem cells; we’re the largest investor in Mike West’s company, AgeX Therapeutics, which is now a public company in the US. We own about 46% of that company. Then, via Lygenesis, we’ve also got our first product going into patients in the first quarter of next year, sick patients in a phase II trial, for organ regeneration, regenerating the liver, using hepatocytes to seed lymph nodes to act as ectopic bioreactors to grow fully functioning liver tissue. The FDA has agreed to the protocol for doing that in sick patients, which is a remarkably fast path to demonstrating successful outcomes in that area. If that is successful, then we will look to regenerate other organs, in particular the thymus, which as you know is related to aging in a big way.

We’re moving very, very quickly. We’ve got great colleagues; Margaret Jackson from Pfizer is on our team. Howard Federoff, ex-Pfizer, is on our team. Annalisa Jenkins, who was head of drug development and research and development at Merck Serono, a very big drug company, is on our team. We’ve put it all together remarkably quickly, but we have experience in doing that, and so we’re full of confidence. This is a remarkable time to be alive, and I want to be alive for at least another 20 or 30 years beyond what would be considered to be my allotted life span. The same is the motivating factor for my cofounders, Declan Doogan and Greg Bailey.

Working to extend life is an ethical cause. No one can argue, successfully at least, that this isn’t a good thing to do. There are some people who say “well, it is for the haves and not for the have-nots” but that is rubbish, because, ultimately, all these drugs will become generally available, and some of them already are. Metformin, which, as you are aware, is a drug that has some anti-aging properties, costs essentially nothing. It is a generic drug. As antibiotics, ulcer drugs, and so forth were once expensive and are now very cheap, the same thing will happen to drugs for longevity. Gene therapy and stem cells are another matter, though, and they will probably be expensive things for some time to come. But, undoubtedly, the cost will come down for those as well.

The other people who argue against work on aging talk about overpopulation; if there are all these old people, will there be enough room on the planet. Well, the answer is, we’re already alive, so we’re not going to be adding to the population. You and I are already here. The big issue on population is how many children does each woman have around the world, and that figure is falling dramatically, to the point where we can see populations actually shrinking. Just as an example, if Japan doesn’t allow immigration, or doesn’t have a baby boom, its population will fall from 126 million today to 50 million by the year 2100. So both those arguments, the haves versus the have-nots, and the overpopulation concern, are nonsensical arguments. In my view, there is absolutely no reason why governments, institutions, the general population, and the voting population shouldn’t be pushing really hard to make this happen.

Regarding the aging of the existing population and how to cope with it, the main point made by Aubrey de Grey, and other eminent scientists as well, is that if you treat the top of the cascade of damage in aging, then you are going to treat the underlying diseases of aging that pharmaceutical companies are trying to address. But for those pharmaceutical companies, it is a whack-a-mole exercise, so if you get one disease and that is cured, then you’ll get another one, and they’ll have to cure that one. Ultimately, we become destabilized and we die, all of us. So, let’s try and treat aging as the central disease, and from that as the unitary disease, we’ll be treating the cascade that follows from that.

Some people say it is hubris to target aging, but I think that this is because until relatively recently, nothing worked. It has been an aspiration of human beings for millennia to find the fountain or elixir of youth, and nothing has worked. So, people are skeptical about the fact that it might be working now: why now rather than 20 years ago or 20 years in the future? But the fact is that it is now, and we need to seize the moment and rise to the challenge. We need much more funding to come into this area, and that funding will drive the science. We need many more advocates for this cause to come to the fore and tp spread the word, that this is going to be monumentally great for human beings.

In my own case, I’ve set up a charity with Andrew Scott, who wrote The 100 Year Life, and we do a Longevity Week in London. We did the first one last year, and we’re doing the next one in November of this year, to spread the word. This will have a big societal impact, on consumption, on the way in which we look at the trajectory of life, but it is also going to have a major impact on us as human beings. In the past, you’d have expected to live to about 85 or 90, the same with me, and now we’re very likely to live to 110 or 120, so let’s do it. Let’s make it happen. I think that all of us, yourself, myself, have relatives, dear friends, and acquaintances who are suffering the indignities of aging as it currently exists. We’d like to relieve that burden of suffering by extending the healthy span of life. The personal motivation is a very big factor. Here in Berlin, there are 300 or 400 people at this conference, and I imagine that all of them, beyond just the business or scientific side of things, have an altruistic motivation for this as well. More people need to do it, so get on to it!

The elevator pitch for high net worth people thinking about investing in this space is that, first of all, we’re at the front end of a huge upward curve. I said earlier on that this was like the internet dial-up phase of longevity biotech. If you’d invested in the internet in the very early days, you’d be more than a billionaire now; you’d be one of the richest people on the planet. We’re at that stage now, so the opportunity for investors is huge, but you could do both. You could invest in something like the SENS Research Foundation or the Buck Institute or one of those wonderful organizations that is trying to advance the cause, and at the same time invest in some of the companies that come out of those institutions. We’ve undertaken two joint ventures with the Buck Institute, and we’ve made a couple of investments as a result of introductions by the SENS Research Foundation, including the organ regeneration program. If you’re a sensible billionaire, you will be putting some of your funds to work in a combination of a charitable enterprise that drives the science and the businesses themselves that come out of those enterprises.

Many thanks to Leaf Science for doing the transcript!

Perhaps one of the most interesting companies in which Juvenescence has invested is Lygenesis, which is developing an approach to address liver failure by creating miniature livers to pick up the slack. Lygenesis is using a technique in which liver cells are delivered to lymph nodes, where they develop and grow into fully working liver tissue, albeit smaller than the organ they replace. If these organs are shown to perform all the functions of a working liver, they could potentially remove the need to replace damaged livers through transplants. Initial work in mice and pigs has been promising, and Lygenesis plans to move to phase 2 clinical trials in early 2020.

Surviving the Zombie Cell Apocalypse – Oisín Biotechs Stephen Hilbert

Oisín Biotechnologies ground-breaking research and technology is demonstrating that the solution to mitigating the effects of age-related diseases is to address the damage created by the aging process itself. We have recently successfully launched our first subsidiary, Oisin Oncology, focusing in combating multiple cancers.

Interview with Stephen Hilbert

We cover the exciting scientific progress at Oisín, targeting senescent cells (dubbed ‘zombie cells’) to help them to die properly, rejuvenation therapy vs traditional approaches to combating disease, Oisín’s potential for aiding astronauts survive high levels of radiation in space, funding for the research and therapy/drug development and specifically Stephen’s background in corporate development in helping raise capital for Oisín and it’s research.


Are we close to achieving Robust Mouse Rejuvenation?

According to Aubrey de Grey we are about 5-6 years away from  robust mouse rejuvenation   (RBR) subject to the kind of funding SENS has received this year and the previous year (2017-2018). There has been progress in developing certain therapies .

Specifically, the goal of RBR is this:

  • Make normal, healthy two-year old mice (expected to live one more year) live three further years.
    • The type of mice: The ideal mouse to trail on is one that doesn’t naturally have a certain kind of congenital disease (that might on average only live 1.5 or 2 years) – because increasing their lifespan might only be a sign that you have solved their particular congenital disease.
    • Number of extra years: Consistently increasing mouse lifespan for an extra two years on top of their normal three year lifespans – essentially tripling their remaining lifespan.
    • When to begin the treatment: Don’t start treating the mice until they are already 2 years old – at a time where they would normally be 2 thirds of the way though their life (at or past middle age) and they would have one more year to live.

Why not start treating the mice earlier?  The goal is to produce sufficiently dramatic results in a laboratory to convince the main-stream gerontology community such that they would willingly publicly endorse the idea that it is not impossible, but indeed it is only a matter of time before rejuvenation therapy will work in humans – that is to get out there on talk shows and in front of cameras and say all this.

The mainstream gerontology community are generally a bit conservative – they have vested interests in being successful in publishing papers, they get grants they have worries around peer review, they want tenure, and have a reputation to uphold.   Gerontologists hold the keys to public trust – they are considered to be the authorities on aging.

 

For the lowdown on progress towards Robust Mouse Rejuvenation see partway through this interview with Aubrey de Grey!

Preliminary results from study showing normalized mouse survival at 140 weeks

Stephen heads up corporate development for Oisín Biotechnologies. He has served as a business advisor to Oisín since its inception and has served on several biotechnology company advisory boards, specializing in business strategy and capital formation. Prior to Oisín, his career spanned over 15 years in the banking industry where he served as trusted advisor to accredited investors around the globe. Most recently he headed up a specialty alternative investment for a company in San Diego, focusing in tax and insurance strategies for family offices and investment advisors. Stephen is the founder of several ventures in the areas of real estate small manufacturing of novelty gifts and strategic consulting. He serves on the Overlake Hospital’s Pulse Board, assists with Children’s Hospital Guild and is the incoming Chairman at the Columbia Tower Club, a member’s club in Seattle.
LinkedIn Profile

Head of Corporate Strategy/Development Pre-Clinical Oisin Biotechnologies and OncoSenX
FightAging - Oisin Biotechnologies Produces Impressive Mouse Life Span Data from an Ongoing Study of Senescent Cell Clearance
FightAging reported:
Oisin Biotechnologies is the company working on what is, to my eyes, the best of the best when it comes to the current crop of senolytic technologies, approaches capable of selectively destroying senescent cells in old tissues. Adding senescent cells to young mice has been shown to produce pathologies of aging, and removal of senescent cells can reverse those pathologies, and also extend life span. It is a very robust and reliable approach, with these observations repeated by numerous different groups using numerous different methodologies of senescent cell destruction. Most of the current senolytic development programs focus on small molecules, peptides, and the like. These are expensive to adjust, and will be tissue specific in ways that are probably challenging and expensive to alter, where such alteration is possible at all. In comparison, Oisin Biotechnologies builds their treatments atop a programmable suicide gene therapy; they can kill cells based on the presence of any arbitrary protein expressed within those cells. Right now the company is focused on p53 and p16, as these are noteworthy markers of cancerous and senescent cells. As further investigation of cellular senescence improves the understanding of senescent biochemistry, Oisin staff could quickly adapt their approach to target any other potential signal of senescence – or of any other type of cell that is best destroyed rather than left alone. Adaptability is a very valuable characteristic. The Oisin Biotechnologies staff are currently more than six months in to a long-term mouse life span study, using cohorts in which the gene therapy is deployed against either p16, p53, or both p16 and p53, plus a control group injected with phosphate buffered saline (PBS). The study commenced more than six months ago with mice that were at the time two years (104 weeks) old. When running a life span study, there is a lot to be said for starting with mice that are already old; it saves a lot of time and effort. The mice were randomly put into one of the four treatment groups, and then dosed once a month. As it turns out, the mice in which both p16 and p53 expressing cells are destroyed are doing very well indeed so far, in comparison to their peers. This is quite impressive data, even given the fact that the trial is nowhere near done yet.
Considering investing/supporting this research?  Get in contact with Oisin here.