‘VCs should run experiments to derisk longevity biotech investments’
Ichor founder speaks out on some of the key challenges facing longevity drug developers and investors.
Longevity focused contract research organization Ichor Life Sciences recently revealed the expansion of its clinical services division, Ichor Clinical, to Australia, Europe, and the UK. The US-headquartered firm provides pharma and biotech companies with extensive clinical trial services, ranging from early preclinical studies to late-stage clinical trials and FDA approval.

From a longevity perspective, Ichor has developed a strong reputation for conducting lifespan and healthspan studies, and is currently engaged in running the LEV Foundation’s ambitious Robust Mouse Rejuvenation study. The company’s experience in the aging field has led it to provide venture capital to longevity companies, as well as operating a longevity biotech division, developing its own therapies to treat age-related diseases.

Longevity.Technology: Through its combined expertise as a CRO, drug developer, and venture capitalist, it’s fair to say that Ichor has a unique mix of perspectives on the longevity field. To tap into some of those views, we caught up with Ichor’s founder and CEO, Kelsey Moody, who began by sharing an interesting point regarding investor due diligence in the longevity field.

“It always surprises me how willing a VC firm is to write a $5 million check but will not run a $10k experiment to replicate key findings from a potential investee,” he says. “This is especially surprising given the reproducibility crisis that exists in the life sciences.”
Before making an investment in an early-stage biotech, Moody says Ichor first makes sure it can replicate the key preclinical findings of the company seeking funding.

“Importantly, this process also allows us to obtain a clear understanding of where the technical hurdles are for these companies, and this also serves to de-risk investments for our angel network when they syndicate on deals with us,” says Moody. “Unfortunately, in an effort to dazzle investors and get money, most companies cannot have a frank conversation about what their biggest development challenges are going to be.”

This, explains Moody, makes investments far riskier for both the company and the investor because cash outlays and expectations may not appropriately match the reality of how the science will progress.

“In many instances, we see these challenges are quite predictable (and therefore manageable) provided one is aware of them ahead of time,” he adds. “It also gives us a competitive edge. We see many ‘diamond in the rough’ deals that VCs will not touch, but we can move forward collaboratively with the investee very rapidly because of our knowledge on the bench and willingness to work through technical challenges.”

Challenges facing longevity biotech
Having worked with many biotech companies targeting one or more of the hallmarks of aging, Moody says that one of the biggest hurdles startups face early on is figuring out what indication to go after.

“If you successfully target a hallmark of aging, your molecule or biologic may be efficacious against many diseases at the same time,” he says. “But unless you’re targeting multiple hallmarks at once, that drug may only have a moderate effect in a specific disease. And that presents a lot of tactical challenges.”

‘VCs should run experiments to derisk longevity biotech investments’