Longevity for Investors with Dr. Greg Bailey and Jess Larsen Insights from Bayer’s $1.5 Billion VC Fund | Lucio Iannone, Head of Health Venture Investments (VP) at Leaps by Bayer
Jul 5, 2024
Lucio Iannone, Head of Health Venture Investments at Leaps by Bayer, is a seasoned biotech investor with a PhD from Imperial College. He discusses how Leaps is revolutionizing biotech investing with significant early checks and strategic acquisitions like BlueRock. Lucio shares insights on key investment principles, including the importance of medical need and scientific credibility. He also contrasts the US and European biotech landscapes, offers advice for founders seeking VC support, and highlights the focus on longevity and preventative health in their strategies.
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Big Bets Built New Capabilities
- Leaps started eight years ago to jump-start therapeutic areas Bayer didn't have expertise in.
- An early $200M+ bet, BlueRock, gave Bayer cell therapy know-how and was later acquired for $1B.
Strategic Flexibility Through Syndication
- Leaps now spreads risk with more, smaller bets and welcomes other corporate VCs to co-invest.
- That lets Bayer act strategically when needed while still generating financial returns for redeployment.
Due Diligence: Science, Need, Syndicate, CEO
- Do check scientific rationale and unmet medical need before investing; prioritize curative potential.
- Do also insist on strong syndicate partners and evaluate whether the CEO can scale the company.