Why Longevity and Health-span is Finally Ready for Investment (For Real This Time)
Despite real interest in the past decade or so, the idea of significantly extending human lifespan and health-span never really felt ready for significant attention from venture investors. While we’ve seen innovation in the science and efforts at starting companies (and everyone read David Sinclair’s book and subscribed to all the health podcasts giving real hope), it just was too thin-ice to take seriously. The question is have things changed or are we still too early to make defensible investments? It’s one of humanity's oldest desires, and that enthusiasm would make it forgivable to get faked out before the science is ready to build quality products that expand the market, but has the time finally arrived?
For sure, something has shifted. Instead of just listening to Rhonda Patrick and Peter Attia speculate, we are getting real breakthroughs and seemingly safe and effective products almost ready to go. We believe this trend is actually worth following and that investment in promising early efforts now will pay off well in 5 or 10 years as momentum builds and investors start getting in line to throw money at the best candidate companies.
At the outset, it’s important to clarify what we are talking about. For the past decade or so, young tech employees and Manhattan bankers have been listening to podcasters talk about the Yamanaka factors and some have even added Metformin, NAD and Rapymicin to their supplement stacks. But in the past three years or so, excitement has faded as one thing after another was either totally debunked or no longer seen as promising. A few years ago it was intermittent fasting and going on and on about autophagy but then oops we learned it’s probably bad for you. NAD, BPC 157 and even collagen supplementation were the next hot things, which also became less so as worries about dangers and money wasting emerged as real studies came out. At the same time that the excitement dimmed, the science was improving in the background, which is why now is such an interesting time to consider investing.
That said, we live in a world where the healthcare industry in the US, through the disease model of healthcare, is giving us slightly more longevity with little or no healthspan improvement and really, who would want that? What we covet is for 80 to feel like 40 and 90 to feel like 50 so that we can meet or exceed the centenarian decathlon that Peter Attia talks about. We crave more quality time in this life and believe that science may be about to deliver. If and when that happens, we need to be ready as it will likely be an astounding funding environment for this class of companies.
Real Scientific Breakthroughs
The current pace of scientific discovery in quality anti-aging biology is accelerating. We’re moving beyond simply understanding of the hallmarks of aging to actively intervening in these processes. From senolytics to epigenetic reprogramming and gene therapies, the toolkit is expanding rapidly and researchers and companies applying AI technology to these problems are finding actual breakthroughs and quickly incorporating those improvements .
Recent data from the Centers for Disease Control and Prevention (CDC) shows that U.S. life expectancy saw an increase in 2023. Though the nation still lags behind many other developed countries, this uptick reflects, in part, the growing impact of biomedical research on public health.
Unlocking Cellular Secrets to Wind Back the Clock
A significant portion of recent longevity research has honed in on the cellular and molecular drivers of aging. One of the most promising areas is the development of senolytics, drugs that selectively clear out senescent, or "zombie," cells. These are cells that have stopped dividing and accumulate with age, releasing harmful substances that damage surrounding tissues. While still largely in clinical trial stages, early results suggest that clearing these cells can improve a variety of age-related conditions.
In a similar vein, researchers are making strides in understanding and manipulating telomeres, the protective caps on the ends of our chromosomes that shorten with each cell division. A 2024 study highlighted a new treatment that can restore youthful levels of the telomerase enzyme, which helps maintain telomere length. In preclinical models, this led to reduced cellular aging, decreased inflammation, and improved memory and muscle function.
Another equally exciting area and one that has been unfairly disparaged in the past is hormone replacement for women. The benefits of HRT include significant relief from menopausal symptoms, protection against osteoporosis and bone loss, improved cognitive function, and better sexual health, with some studies also suggesting a potential reduction in cancers, especially colorectal. It is surely not too hard to imagine a class of companies taking advantage of this trend in women’s health and being successful for the first time.
The Power of Metabolism in Healthy Aging
Diet and metabolic health have long been linked to longevity, and recent U.S.-based studies are providing more precise insights. We may well see that GLP 1 Agonists, for example, will provide lasting health benefits to millions of Americans who initially tried them solely for weight loss.
Further research has also pointed to the benefits of specific dietary components. Studies on taurine have shown its potential to improve healthspan and lifespan in animal models by impacting factors like weight gain and insulin sensitivity. Similarly, diets rich in polyphenols—compounds found in plants—have been linked to a younger biological age. Also, the diabetes drug metformin continues to be a focal point of longevity research as does Rapamycin. Quality studies are investigating whether these agents can delay the onset of age-related diseases in non-diabetic individuals. This area of research has led to people beginning to view aging as a preventable condition for the first time.
Researchers are also identifying novel biomarkers to better measure biological age, moving beyond simple chronological age. This improvement allows for more personalized interventions and a more accurate assessment of the effectiveness of new therapies. We already see these measurements popping up on the new version of Whoop straps or blood analysis companies like Inside Tracker and we suspect that with slightly more refinement, these products will become widespread and very profitable.
It’s worth noting that some of the best research is being done outside of the US, with that particularly true of Asia. As an example, the work emerging from the National University of Singapore is extremely high quality and interesting. Singapore has put real resources towards becoming a leader in understanding cellular senescence and developing novel compounds to target aging pathways. Their rigorous approach and deep understanding of biological mechanisms are laying the groundwork for future therapies and companies. In fact, Brian Kennedy, a researcher at the NUS, recently put his cards on the table and got us all pretty excited about how far they have come recently on Peter Attia’s podcast.
The Rise of the Healthspan Evangelists
Momentum investing needs momentum and there is certainly plenty of that in this area. The excitement continues to build thanks to influential voices like Peter Attia and Andrew Huberman and even Joe Rogan who have enormous platforms. They emphasize not just living longer, but living better – maintaining cognitive function, physical vitality, and overall well-being well into old age and keep hinting that we are close to unlocking the real secrets.
This cultural shift is crucial. It's creating a vast, informed consumer base with real hope for solutions. People are actively seeking ways to optimize their health, prevent chronic diseases, and extend their productive years and are looking for empowerment and a desire for a higher quality of life. You see it everywhere in terms of content consumed and even US alcohol consumption falling through the floor in the past few years.
For VCs, this translates into a rapidly growing market eager for innovative products and services with a built in customer base ready to try great products.
Where the Smart Money is Flowing: Companies to Watch
Here are just a few examples of the types of companies attracting serious investment now:
Altos Labs: Backed by significant figures like Jeff Bezos and Yuri Milner, Altos Labs is perhaps the most high-profile example. They’re focused on cellular rejuvenation programming to reverse disease, injury, and disability. Their ambition and the caliber of their scientific team underscore the seriousness of this field.
Unity Biotechnology: A pioneer in the senolytics space, Unity is developing therapies to clear senescent cells, with promising results in areas like ophthalmic diseases and osteoarthritis. Their clinical progress provides tangible evidence of the potential of targeting fundamental aging mechanisms.
Retro Biosciences: Another well-funded player, Retro is aiming to extend healthy human lifespan by ten years. They’re tackling multiple aging pathways, including cellular reprogramming and optimizing metabolic health.
Loyal: While focused on extending the lifespan of dogs, Loyal’s approach to drug development in aging is highly relevant to human longevity. Their success in a faster-to-market animal model could pave the way for human applications. See also Matt Kaberlin’s Dog Aging Project as an area to watch closely.
Beyond these well-known names, a vibrant ecosystem of smaller, innovative companies is emerging, focusing on everything from precision diagnostics for biological age to novel therapeutics targeting specific aging pathways, and even personalized nutrition and lifestyle interventions powered by AI.
The Investment Thesis: Why Now is the Time
From a venture capital perspective, the longevity sector is finally ready for a good look:
Massive Addressable Market: Aging is the primary risk factor for most chronic diseases. Effectively delaying aging could significantly reduce the burden of conditions like Alzheimer's, heart disease, cancer, and diabetes, creating an unprecedented market opportunity.
De-Risked Science (Relatively Speaking): While still early, the foundational science has moved from speculative to increasingly robust. We have identified key aging pathways, and interventions are moving from academic labs to clinical trials.
Strong Talent Pool: The field is attracting top-tier scientists, entrepreneurs, and clinicians, drawn by the profound impact potential and the excitement of working at the frontier of human biology.
Public Awareness and Demand: The influence of figures like Sinclair, Attia, Huberman and others has primed the public for these innovations, accelerating adoption and creating a receptive market.
Long-Term Impact and Returns: Successful interventions in aging will not only generate significant financial returns but also yield an immeasurable societal benefit, creating a virtuous cycle of innovation and investment and we could see even more productivity gains than just from AI alone in the coming decades as people stay in the workforce longer.
It’s about extending healthy life. It's about empowering individuals to live more vibrant, productive, and fulfilling lives for longer. And that will sell a ton of widgets. For now, we are looking to make investments into funds specializing in this area and are very interested in the evolution of and commercialization of the science.