Imagine a world with medications helping you achieve eternal youth, with wrinkle free skin or a permanent cure to baldness! People all over the globe search for these kinds of treatments for timeless beauty, and also for the cure of various age-related diseases; and biotechs are working towards the developments of the same. Samumed, based in San Diego, is a private biotech firm; which could bring about the possible miracle treatments for many age-related ailments.
Samumed focuses on the novel advances for the treatment of ailments like baldness, wrinkles, cancer, disc diseases, and arthritis among others; it aims to use the regenerative medicines for this purpose. With many funding rounds along the years, the San Diego company has managed to raise a whopping $300 million; which sums up to a valuation of $12 billion of Samumed. The biotech company’s CEO, Osman Kibar has informed CNBC that this funding has not come from the Silicon Valley; but it has come from sovereign funds, many family offices, and some high net-worth individuals.
According to Samumed’s website, its focus is on diseases of the skin, joints, and tendons like psoriasis, osteoarthritis and tendonitis; and also the Alzheimer’s disease, Colorectal, Pancreatic, Gastric, and Liver cancers, and Degenerative Disc Disease (DDD), among others.
Samumed Valuation One of the Highest in Biotech Firms
According to the reports on Business Insider; Samumed, at $12 billion, is one of the highest valued private biotech companies. Also according to Stat News, Moderna Therapeutics is valued at $5 billion; and Stemcentrx, which is a company for cancer-drugs, was valued at $5 billion. AbbVie has taken over Stemcentrx for a $10.2 billion deal.
The Chief Financial Officer of Samumed, Cevdet Samikoglu, had signed as an investor in the biotech firm in 2007; when he also felt that it was all too good to be true. Eventually, he left thinking about the same. Samumed is also famous for a fact that it is open to public about presenting its data. It still remains secretive about its chemical structures and targets, according to CEO Osman Kibar. However, Samumed is lucky enough to have its focus on the advancement of drugs and science rather than the market demand of drugs.
The only Venture Capital to fund Samumed, among the high net-worth individuals and other sovereign funds is Finian Tan’s firm, Vickers Venture Partners; who is also an early investor in the Baidu,a Chinese tech company.
Long Way to Achieve a Path-Breaking Success
During the Forbes Healthcare Summit, in December 2016; Kibar mentioned Samumed is not going public as long as it starts generating revenues with an approved product.
Just like Samumed, there are many biotech companies working towards the advancements of regenerative medicines. Google’s Calico (founded in 2013), is a biotech that works towards the developments of extending the lifespan of humans. Unity Biotechnology works on the treatments for cells regarding conditions of eyes and heart, namely senescent cells.
At present, the San Diego company’s treatments are in their phase two trials. Which means that there is still a long way to go before Samumed’s treatments can not only be evaluated; but also approved by the Food and Drug Administration (FDA). Notably, even if one of these treatments gets approved by the FDA; it will prove to be a path-breaking success in the field of regenerative medicine treatments; along with promising anti-aging cures.