Biotechnology. Buy eternal life

The Economics of Longevity: Investing in eternal youth and a Cure for Death

Dmitry Filonov, Elena Krauzova, Dmitry Yakovenko, Forbes, 10/20/2016

Mikhail Chuchkevich, a partner of the Bright Capital venture fund, walked through the corridors of the N. A. Semashko Hospital and discussed new technologies in healthcare with doctors. The businessman was about to leave, but the chief physician took him to the office of one of the employees. There was a small machine there. According to the developer, it allowed to investigate the pathology of the capillary mesh without internal intervention. The new method of capillaroscopy looked interesting – with angiography (X-ray transmission of blood vessels with the introduction of special substances into the blood), the capillaries are poorly visible. Chuchkevich was ready to negotiate with the inventor about the first "check", but the doctor only grinned – he had already sold the development rights to Switzerland, where mass production began. "There are a lot of good innovations in medicine in Russia, but they are in such an unformed state in the medical and academic environment," says Chuchkevich. Now he and the second partner of Bright Capital Boris Ryabov, who worked for four years in the Pharmacy Chain 36.6, are raising two funds for investments in biomedical projects totaling more than $ 250 million.

Investors turned their attention to biotechnology in 2011. Then the $200 million fund of the billionaire and minister in charge of the activities of the Open Government of the Russian Federation, Mikhail Abyzov (the funds were transferred to trust management) invested together with large Western funds in dozens of Silicon Valley companies. Bright Capital partners were interested in renewable energy sources, energy-efficient technologies and new materials. But when eminent venture capitalists gave tips on startups in other industries, Bright Capital was involved in transactions. So, Brooke Byers, co-founder of Kleiner Perkins, told about the American CardioDX. She has developed genetic tests for the diagnosis of cardiovascular diseases. "Previously, in order to diagnose the narrowing of the lumen in the arteries, it was necessary to mechanically enter the vessel, now you can do an analysis by a drop of blood," explains Chuchkevich. CardioDX received about $8 million from Bright Capital. In 5 years, the value of the company has tripled, the total amount of its financing is approaching $ 290 million. CardioDX has completed clinical trials and sells tests to partner clinics and organizations that perform diagnostics in hard-to-reach places.

Bright Capital's next investment in biotech was FloDesign Sonics. She was advised by another Kleiner Perkins partner, John Dore. The company, using the best practices of the parent FloDesign, a seller of wind turbines, has created a technology for separation and filtration by ultrasound without filtering materials, which is relevant for biopharmaceuticals, cellular technologies and industry. Bright Capital invested $10.5 million in a startup together with American funds in 2014. "It became clear that life extension technologies in the next 10 years will grow at the same explosive pace as those that marked the digital revolution," Ryabov says. New methods of treatment (gene and immune therapy, regenerative medicine) are becoming more active with the spread of early diagnosis and effective methods of analyzing "big data". At the junction of these trends, longevity-economy (longevity – longevity) is born, venture capitalists explain. Its boom will take place in the next 10-15 years, and this coincides with the planning horizon of venture funds.

"The task of a venture investor is to recognize a new market that is ready to accept new technologies, but is not yet filled," Ryabov says. "Now is the right time to invest in new ways to combat aging and biomedicine." Bright Capital is already raising a $200 million fund for investments in the international market. The first closure – for $ 100 million – will take place no later than the second quarter of 2017, investors hope. At the same time, Bright Capital wants to launch a $60 million Longevity fund with a focus on Russian projects. Investors of both funds will be mainly large businessmen and family offices.

"Our investors have yachts, houses, planes," says Chuchkevich, "the only thing that is not yet available to them is eternal youth."

Portal "Eternal youth" http://vechnayamolodost.ru  20.10.2016