🧬 Big Pharma's $180B Patent Cliff: Why VCs Are Betting on Biotech | Sergey Jakimov (4/4)
"The only advice I can give to my 21-year-old self is that advice doesn't work... But whenever you actually need advice on something that you do not know how to start or how to solve or how to figure out, you should really remember that someone in this world has already figured it out."
In this episode of The Biotech Startups Podcast, host Jon Chee concludes his conversation with Sergey Jakimov, Managing Partner at LongeVC, exploring the realities of fundraising from limited partners and building a successful longevity-focused biotech fund. Sergey shares his unconventional approach to LP fundraising—telling his story rather than selling a product—and how personal experiences with age-related diseases drive his science-first investment philosophy.
Sergey explains why Fund One, which launched with 30% GP capital commitment, has achieved over 3x returns in just three years despite challenging market conditions. He reveals why big pharma's massive liquidity reserves, combined with looming patent cliffs like Merck's Keytruda expiration, create unprecedented opportunities for venture-backed biotech innovation. The conversation explores the vital role venture capitalists play in bringing breakthrough therapies to patients—therapies that big pharma would never risk developing on their own.
Looking ahead, Sergey discusses his vision for establishing longevity as an evidence-based, data-driven field while combating the "snake oil" supplements and questionable therapies that damage the industry's credibility. He emphasizes the need to translate scientific success stories into accessible language that attracts generalist capital, ultimately accelerating growth across the entire longevity sector.
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"The only advice I can give to my 21-year-old self is that advice doesn't work... But whenever you actually need advice on something that you do not know how to start or how to solve or how to figure out, you should really remember that someone in this world has already figured it out."
In this episode of The Biotech Startups Podcast, host Jon Chee concludes his conversation with Sergey Jakimov, Managing Partner at LongeVC, exploring the realities of fundraising from limited partners and building a successful longevity-focused biotech fund. Sergey shares his unconventional approach to LP fundraising—telling his story rather than selling a product—and how personal experiences with age-related diseases drive his science-first investment philosophy.
Sergey explains why Fund One, which launched with 30% GP capital commitment, has achieved over 3x returns in just three years despite challenging market conditions. He reveals why big pharma's massive liquidity reserves, combined with looming patent cliffs like Merck's Keytruda expiration, create unprecedented opportunities for venture-backed biotech innovation. The conversation explores the vital role venture capitalists play in bringing breakthrough therapies to patients—therapies that big pharma would never risk developing on their own.
Looking ahead, Sergey discusses his vision for establishing longevity as an evidence-based, data-driven field while combating the "snake oil" supplements and questionable therapies that damage the industry's credibility. He emphasizes the need to translate scientific success stories into accessible language that attracts generalist capital, ultimately accelerating growth across the entire longevity sector.
Key topics covered:
- Fundraising Philosophy: Why telling your authentic story attracts like-minded LPs better than traditional pitching and selling
- Biotech in Down Markets: How good science always raises money and strategic assets get acquired even during economic downturns
- Big Pharma's Urgency: Understanding patent cliffs, liquidity reserves, and why pharma needs venture-backed innovation more than ever
- Evidence-Based Longevity: Building longevity investing around diseases and molecular assets rather than romanticized anti-aging concepts
- Industry Growth Strategy: Creating accessible success stories and attracting generalist capital to scale the longevity field
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Timestamps:
00:00 Intro
01:55 Fundraising from LPs and Communicating a Science-First Thesis
06:02 Building a Community of Like-Minded LPs
11:53 Big Pharma's Liquidity and Patent Cliffs Create Opportunity
13:23 Vision for the Future and Creating Added Value
16:13 Making Longevity Accessible to Generalist Investors
16:54 Combating Snake Oil and Building an Evidence-Based Field
19:39 Shout-Outs to Team and Colleagues
21:35 Advice to 21-Year-Old Self
23:52 Outro