Our 2023 report on the state of longevity funding drops at this time: the numbers, the sectors, the highest offers, the important thing gamers and the outlook for 2024
Has the longevity business really arrived? The reply is each sure and no. We categorize longevity throughout 25 totally different domains, however for simplicity, by way of ‘arrival,’ the longevity business could be divided into ‘longevity now’ and ‘longevity subsequent’.
‘Longevity now’ refers to in-market firms producing income e.g. promoting biomarker exams and dietary supplements, or providing high-end companies in longevity clinics. These firms are ‘now’ firms, they’re showing in all places, however the numbers are nonetheless small by way of the goal addressable market, so there’s loads of room for development.
‘Longevity subsequent’ pertains to biotech firms which are investing closely whereas striving for profitable scientific trials in various fields akin to mobile reprogramming, mitochondrial dysfunction, longevity gene therapies and neuropharma.
Whether or not targeted on the current or the longer term, as detailed in our Annual longevity investment report 2023, all gamers within the business goal to increase healthspan for longer, more healthy lives – on this 12 months’s report we discover the scientific and funding highlights of 2023:
- Longevity investments have diversified over the previous decade, beginning at $0.57bn in 2013, reaching a peak of $9.26bn in 2021, and presently standing at $3.01bn in 2023;
- Median and common deal measurement has improved within the final 10 years, post-2014, deal sizes fluctuated between $17mn and $30mn, touchdown at $20.16mn in 2023, the place the median deal measurement was $5.00mn in 2023;
- Longevity offers by quarter remained steady, averaging 48 offers per quarter;
- The area with the best financing from 2019-2023 was Longevity Discovery Platforms, securing $10.61bn in investments. This was adopted by Neuropharma with $6.27bn and Mobile Reprogramming with $4.35bn;
- The report covers a number of different information factors.
“The rising longevity ecosystem is attracting substantial funding, indicating a shift in the direction of proactive wellness methods and modern aging-related therapeutics,” mentioned report foreword creator, Rajiv Ahuja, Director, Milken Institute, Center for the Future of Aging. “Longevity.Expertise’s annual report underscores the resilience and development of longevity investments over the previous decade, reflecting a shared dedication to more healthy getting older.”
Whereas everybody will acknowledge that 2023 was a troublesome 12 months, many will take some consolation for the truth that longevity as a sector wasn’t alone in experiencing an funding downturn.
“Longevity has but to expertise its AI second, like final 12 months’s surge in public consciousness and investor curiosity sparked by ChatGPT,” commented report co-author, Phil Newman, Editor-in-chief, Longevity.Expertise. “However embedded in these information are firms that can change the world 10 years from now. We simply want to remain on it and keep affected person.”
How did we do with our predictions for 2023?
It’s all the time good to calibrate predictions with the good thing about hindsight (the brand new report has predictions for 2024): right here’s how we did:
- Breakthrough scientific progress spurs pick-up in financing in 2H-2023
Now we have seen the development of firms ‘transferring to the appropriate’ within the scientific pipeline, however whereas progress stays promising, we haven’t seen a significant breakthrough per se. 2H23 financing hit $2.14bn, approaching 2.5x of 1H23 (which hit $850mn). - Deeper longevity engagement by Large Pharma
Whereas Large Pharma stays largely under the radar in longevity, it’s omnipresent in funding discussions round Part 2b stage biotechs. Pharma’s urge for food for GLP-1s (regardless of having been found over 30 years in the past) picked-up considerably in 2023, and weight reduction instantly correlates with longevity via improved cardiovascular well being and the mitigation of diabetes. So, not directly, Large Pharma was engaged in longevity – nevertheless it’s a stretch. - Competitors for trailblazers in longevity
BioAge Labs attracted important capital and media curiosity in 2023 and represented the right longevity firm. Nonetheless, Fauna Bio got here out of relative obscurity to announce a $494mn collaboration with Eli Lilly: growth, the artwork of the potential from two feminine founders. However, usually, it’s truthful to say that 2023 was a heads-down for many firms, each biotech and non-biotech. - Non-biotech longevity positive aspects share with longevity clinics proliferating
Sure, investor urge for food for ‘client longevity’ firms grew in 2023. Longevity clinics additionally multiplied, opening new facilities all over the world, increasing their companies and partnering with actual property developments and trip locations. - A brand new bold-faced entrant into the sphere of longevity
Our remaining prediction was, admittedly, one thing of a wild card, however thanks Bryan, you delivered.
