FYI - For Your Innovation

On this episode, we bring you an excerpt from our Big Ideas Summit 2022, which was presented live on January 25, 2022. MSNBC’s Chris Hayes interviews our CEO and CIO, Cathie Wood on a wide range of topics spanning all of our big ideas. Cathie shares insights into the world’s current climate of innovation and technology, as well as her predictions for the future. We learn about the move from fossil fuel extraction to new emerging technologies, and what is predicted to contribute towards the shift to renewable energy. Cathie fills us in on how Bitcoin mining could accelerate this shift and how Tesla’s solar roofs can change the solar energy game. We discover how AI is converging with blockchain technology to help solve the world’s problems, and with the genomic space to help cure disease. This is an episode you won’t want to miss. Tune in to learn more about the five major innovation platforms that are simultaneously evolving today, not to mention the three significant revolutions we believe are taking place right now! For the full big ideas presentation click here. “The digital and the physical world finally are converging because the technology is ready and, just as important, the costs are low enough.” — @CathieDWood Key Points From This Episode: Cathie’s predictions of the future in terms of innovation and technology. We believe that five major innovation platforms simultaneously evolving. What is contributing to the move from fossil fuel extraction to new emerging technologies. The cost declines in emerging technologies. Cathie predicts how Tesla’s solar roofs will change the game. How Bitcoin mining could accelerate the shift towards renewable energy. How AI is converging with other innovative technologies to solve the world’s problems. The three revolutions simultaneously taking place right now! The monetary revolution and the profound ramifications predicted as a result of Bitcoin. The role of decentralized finance in the financial services revolution. Cathie describes NFTs and their role in the next-generation Internet revolution.

Please note: as of 12/31/21, ARK’s clients own greater than 1% of the shares outstanding of Beam Therapeutics. Base editing, and gene editing as a broader industry, are a major focus of our research at ARK, and a major piece of DNA Sequencing, one of our 5 technology platforms. To dive deeper into the world of base editing, Analyst Ali Urman sits down with industry expert, Beam Therapeutics CEO John Evans. Evans was previously a Venture Partner with ARCH Venture Partners and an early employee and member of the leadership team at Agios Pharmaceuticals. At Agios, he helped develop IDHIFA and TIBSOVO, two IDH inhibitors for the treatment of acute myeloid leukemia (AML), helped initiate and lead Agios’ landmark alliance with Celgene, and co-led Agios’s expansion into rare genetic diseases. On this episode, Ali and John discuss the falling costs of medicine, the convergence of 3D Printing and Base Editing, Base Editing’s applications for chronic illness, the total opportunity of the gene editing space and much more! “Every base in the genome can be toggled, and, so, every base that has function, we can change that function” – @john_evans3 Key Points From This Episode: John’s favorite poet, Wallace Stevens Medicine’s cost declines and what that means for patients The efficiency of of Multiplex Gene Editing (MGE) The convergence between and potential of 3D Printing and Gene Editing The many colors of CRISPR Gene Editing Base editing applications for chronic illnesses The intersection between Base Editing and Prime Editing Beam Therapeutic’s partnerships with Pfizer and Verve Measuring the opportunity in the Base Editing space The potential total market opportunity in the gene editing space The CRISPR patent ruling and its impact on the genomics field What John finds interesting about Twitter and why he is so active on the platform

The fields of genetics and genomics have been a cornerstone of our interest at ARK, and subjects we have explored in the past on the For You Innovation podcast. Today, analyst Simon Barnett dives a little deeper into this world, as we host Ivan Liachko, the CEO and Co-Founder of Phase Genomics, to talk about the company and the amazing technological strides that are being made. Phase Genomics is a private company with a portfolio of laboratory and computational services and products. Ivan explains a little about ultra-long-range sequencing technology, and how this is enabling Phase to assemble chromosomes in ways that were previously impossible. He also unpacks the idea of looking at the field through the lens of capturing information, and how each advancement allows us to more accurately capture useful information for certain applications. We discuss the tools that the company has been focused on developing, how these can shine a light on the mysteries of the human microbiome, and the practical applications of these innovations for healthcare and beyond. Ivan talks about how his work relates to cancer and the broader study of viruses, and the hope this is instilling for future cures and prevention! “Most of life is information, and what genetics and genomics try to do is extract that information.” — @ivanliachko Key Points From This Episode: Looking back at Phase Genomics in 2018 and the work they did on the Puerto Rican genome. The basics of ultra long-range sequencing technology and how it is changing the genome field. Ivan’s jigsaw analogy for conceptualizing how this new technology operates. Broadening the conversation and applying the technology to more practical problems. How Phase Genomics is changing the way oncology samples are being read. The value of fresh frozen plasma samples and why this is only now being able to be realized. Making use of older studies and samples with new technology. The tricky role and responsibility of scientists to share only the desired information. More visualizations of how cross-linking in this technology works. The complexity of the microbial world and the importance of understanding it for healthcare. How the valuable information that can now be captured affects the way we can deal with viruses. The huge variance that is present in human microbiomes and the problems this has posed in creating a baseline. Ivan’s hopes for development and achievements in the oncological and microbial genetics spaces. Where to learn more about what Phase Genomics is busy with currently!

Today’s guest is Dr. Christyl Johnson, the Deputy Director for Technology and Research Investments at the Goddard Space Flight Center. Dr. Johnson joins us to share a behind-the-scenes view of the innovations coming out of the Goddard Flight Center and the role that she plays in the process. Analyst’s Sam Korus and Tasha Keeney speak with Dr. Johnson about her experiences as an intern at the Langley Research Center and what she loves most about working for NASA, an environment built on the foundations of out-of-the-box thinking and creativity. We hear more about Dr. Johnson’s role at the Goddard Flight Center in forming strategic partnerships between government and private sectors to develop technology for future missions in Earth science, astrophysics, heliophysics, and planetary science. Our conversation also covers some of the research currently being done at Goddard on solar storms, algorithms for processing satellite imaging system information, space telescopes, and much more. Tuning in, listeners will also hear about the skillsets that are most in-demand at Goddard, the importance of diversity for creative problem solving, and the immense process of guiding project invitation from ideation to solution. “We of course are developing the imaging capability and the satellite information systems. But it is the back part, where you do the analysis of that information, where the innovation really comes in.” — @CJohnsonNASA Key Points From This Episode: Dr. Johnson’s experiences as an intern at the Langley Research Center. The work Dr. Johnson does as Deputy Director for Technology and Research Investments at the Goddard Space Flight Center. When it is more appropriate for public versus private industries to develop the technologies NASA uses. Improvements in technology Dr. Johnson has seen during her time at Goddard. Innovations in the algorithms that process information from satellite imaging systems. Dr. Johnson’s ideas for new methods of navigation that use pulsars, not GPS. What role the Goddard Space Center plays in the development of NASA technology. Research on solar storms, planetary and lunar Science, space telescopes, and a lunar net system. The six campuses that make up the Goddard Space Center. Why NASA places so much emphasis on safety precautions near launch sites. How many people work at the center and which percent are PhDs. The importance of diversity and outside opinions to avoid groupthink. Why the Goddard team has such a strong need for systems engineers. What the process from ideation to solution looks like at Goddard.

Dr.Feng Zhang, the award-winning biochemist best known for his central role in developing optogenetics and CRISPR technology, joins ARK analyst Ali Urman on this week’s episode. Listeners will learn about the role of optogenetics in dissecting circuitries in the brain and Feng’s experience of CRISPR. Feng shares some of the biggest hurdles optogenetics has to overcome and tells us where RNA editing could be even more effective than DNA editing. He gives us his predictions on the cost of this kind of technology and medicine, and how it is developing to cover even more genes. We touch on the repertoire of different enzymes, explore diagnostics, and talk about the role of prime editing. You will hear why Feng considers the present to be a golden age for biological research, come to understand his long-term vision for CRISPR’s impact on the world, and much more! “There’s an ever-expanding repertoire of enzymes that could be harnessed and developed for genome editing. I think, what we’re seeing now is probably still the tip of the iceberg.” — @zhangf Key Points From This Episode: Feng’s definition of optogenetics: a way to be able to dissect circuitries in the brain. What CRISPR is and what Feng’s experience of it has been. One of the biggest hurdles of optogenetics: targeting different circuitries in the brain. How RNA could be even better than DNA editing. The expanding toolbox of different proteins that are allowing us to cover more genes. How the repertoire of different enzymes could be harnessed and developed for genome editing. Feng’s thoughts on how quickly the cost will decline. CRISPR’s relationship with diagnostics in terms of specificity and sensitivity. How prime editing could be used to change the number of variants. How using RNA for base editing could change the capabilities. One of the biggest roadblocks to genetic medicine: getting it into the right tissue. The challenge posed by regulatory framework. How the new methodologies being developed can improve off-target sensitivity. Why Feng considers the present to be a golden age for biological research. How Feng sees CRISPR affecting the world in the long term. Why he is excited about the future of programmable medicine.

Bitcoin is unique relative to traditional asset classes, meaning that it is unable to fit within the framework associated with them, and this has prevented investors from understanding it as well as adopting it. In an attempt to address this, ARK analyst Yassine Elmandjra recently co-authored a white paper with prominent crypto on-chain analyst, and ARK consultant David Puell that provides a simple approach on how to analyze public blockchains entitled ‘On-Chain Data: A Framework to Evaluate Bitcoin’. David and Yassine use the framework to discuss on-chain data, its importance, how we get to our metrics using it, and to give some context around the work we have done to develop it. We begin with a definition of on-chain data, then dive into the three-tiered framework, and along the way, point to some of the insights it is possible to gain from cryptographically verified access to such data on the blockchain. Tune in for all this and more, today! “Your 200-day moving average has been an attempt from especially retail traders to get that holy grail cost basis of the market. But in Bitcoin, we have it in a cryptographically verified way.” – kenoshaking Key Points From This Episode: What on-chain data is and how it analyzes the inner economics of Bitcoin. The nature of on-chain data and why it is easy to extract it from Bitcoin. How Bitcoin’s transparency is one of its value propositions as it pertains to the ability to analyze it. The framework developed to provide a basis to analyze public blockchain networks. The three-layer pyramid of the framework: Network health, cost basis, and the third layer that combines them. An explanation of the concept of ‘realized capitalization’. How the transfer of the asset itself is a proxy for a buy and sell that determines cost basis. What it means if the realized cap is greater than the market cap. How significant it is that bitcoin provides a cryptographically verified cost basis. The fact that on-chain data is on-demand and not subject to human error. An explanation of the short to long-term realized value ratio developed by ARK. What it means that over 50% of Bitcoin supply hasn’t been moved in two years. Weighting the 1-day and 6-12-month HODL waves by realized cap. What the on-chain data says about where we are relative to this market cycle. David’s take on the process of developing active management relevant signals.

Please note: as of 12/31/21, ARK’s clients own greater than 1% of the shares outstanding of Verve Therapeutics. On this episode of FYI, ARK Analyst Ali Urman is joined by Verve Therapeutics CEO Sek Kathiresan and Chief Scientific Officer Andrew Bellinger. Verve, a biotechnology company, was created with the sole focus of protecting the world from heart disease. For many years, institutions have approached cardiovascular disease with a chronic care model, prescribing medications to help reduce symptoms and complications, such as heart attack and high blood pressure. Verve Therapeutics wants to change that model. Founded in 2018, Verve was created with the idea that we can develop a one-and-done gene-editing medicine to permanently lower LDL cholesterol to treat heart attack, the world’s leading cause of death. In today’s episode, Dr. Kathiresan and Dr. Bellinger weigh in on the development of gene-editing and its impacts on cardiovascular disease. They discuss gene-editing costs, the importance of lowering LDL cholesterol levels, importance of liver delivery, their PCSK9 program, and why it could be revolutionary for the future of cardiovascular health. For the past four years, Verve has worked to develop proof of concept in monkeys specifically. Gene-editing therapies, such as Verves, could help create longer term health for patients. Listen in to learn more! “When people think about gene editing they are immediately thinking rare disease pricing and millions of dollars per dose … that’s not going to be our model because we ultimately want to reach millions of patients” – @skathire Key Points From This Episode: An introduction to Verve Therapeutics Dr. Kathiresan’s inspiration for treating cardiovascular disease Issues with the chronic care model Development of PCSK9 Overcoming the unmet need of the LDL care Thinking about healthcare from the upstream approach How COVID vaccines have shown feasibility in development How the pipeline continues emerging Challenges of nanoparticles being picked up by the liver Developing a new therapy with homozygous monkey model Difference between healthy vs. heterozygous patients How costs affect the work and role of COVID MRNA Off-target editing What we need to get to market quicker Engaging with Twitter to advance the conversation Data visualization

Here at ARK, innovation is the name of the game when it comes to our investment strategies, but this is not a very common approach when you look at the larger swathes of investors. On today’s show, ARK Client Portfolio Specialist Dan White sits down with Ren Leggi, ARK Client Portfolio Manager to talk about his recent blog post, titled ‘The Equity Market Cap Associated with Technologically Enabled Innovation Is Likely to Grow Exponentially.‘ Ren provides insight into what the research shows about the potential of innovation-based stocks, and why the growth we have seen in the innovation sector during the last year is likely to keep scaling at an increasing rate. We also talk about what this means for a post-pandemic world, discuss the areas of focus for ARK when it comes to innovative technologies, and how these investments can influence the volatility of a portfolio. Ren makes a strong argument for why backing innovation is not only a good idea but dangerous to ignore, so to hear it all from Ren and Dan, listen in today! “People are not going to go back to these old ways, especially if it is cheaper, faster, and more efficient.” — Ren Leggi Key Points From This Episode: A little of Ren’s background and work before joining the team at ARK. Adoption acceleration during the era of the pandemic. ARK’s approach to the different avenues of innovation; listing the five platforms. The huge spike in market cap across the five platforms that has occurred over the last year. Assessing the size of this market cap and the projected growth in the near future. How the technologies on the vanguard are helping push each other forward. Tools for measuring and tracking growth and liquidity in the innovation space. Situating this conversation globally and how competition is popping up outside of the US. Possible capacity, thoughts on volatility, and rethinking how to trade innovation stocks. Finding a place for innovative technology within a portfolio of more traditional asset classes. The biggest risk associated with investment right now: under-allocation to innovation!

Kevin Davies is a renowned British science journalist and the executive editor of The CRISPR Journal, based in New York. His literary career began with Breakthrough: The Race to Find the Breast Cancer Gene in the early 1990s, followed by Cracking the Genome, which details the dramatic story of one of the greatest scientific feats ever accomplished: the mapping of the human genome. His other titles include the $1,000 Genome, DNA: The Story of the Genetic Revolution, and his most recent release, Editing Humanity: The CRISPR Revolution and the New Era of Genome Editing, for which he won a Guggenheim Fellowship for science writing in 2017. Kevin studied at Oxford University and moved to the US in 1987 after earning his Ph.D. in genetics. He is the founding editor of the Nature Genetics journal and Bio-IT World magazine, former editor-in-chief of Cell Press, and the first publisher of C&EN, the weekly magazine of the American Chemical Society. In today’s episode, Kevin elaborates on his career trajectory and explains why he believes that hanging up his lab coat was the best decision he ever made. We also touch on the common themes that run through his books, some of the challenges scientific publishers and editors face, and the importance of promoting the work of women scientists. We also cover vectors, CRISPR babies, the cost of gene therapy, and so much more! Make sure not to miss this fascinating discussion with the remarkable Kevin Davies. “How we turn this stunning 21st-century medicine into therapies that are affordable is going to be a Nobel Prize-winning discovery if anybody can crack that one.” — @KevinADavies Key Points From This Episode: Kevin’s career trajectory and his so-called “desperate” shift to science journalism. How Kevin believes the field of genetics has evolved since he was a geneticist in the 1980s. Learn about the impetus behind the Nature Genetics journal and The CRISPR Journal. What motivated Kevin to write Breakthrough, including a meeting with Mary-Claire King. Three elements in all of his books: genetics, medical or societal impact, and personal drama. Hanging up his lab coat to join Nature and the access to authors that it afforded him. Kevin reflects on the demographic representation and “race to the finish line” issues in scientific publishing and the burden editors face. The lens through which Nobel Prizes are considered and how it can shift perspectives. The importance of promoting women in science, who have traditionally been overlooked. How Kevin’s book, Editing Humanity, coincided with Doudna and Charpentier making history as the first two women to share a Nobel Prize. Stanley Qi’s role in the CRISPR story, which Kevin calls an “unsung contribution.” Speculation and trepidation surrounding vectors: Kevin shares some new thinking. Germline genome editing, CRISPR babies, He Jiankui, and controversy in Hong Kong. Learn more about the exponential cost of gene therapies and gene editing drugs.

Today, 20 years after we sequenced the first human genome, we’re starting to see the fruits of genomics. Instead of treating symptoms, researchers are focused on finding cures for once chronic and fatal diseases. We’re starting to reimagine medicine in ways previously thought impossible. This week on the For Your Innovation Podcast, we’re joined by Dr. Samarth Kulkarni, Chief Executive Officer of CRISPR Therapeutics. Sam joined CRISPR in early 2015 as Chief Business Officer. Two years later, in 2017, he was appointed to CEO. In addition to his expertise in biotech strategy and operations, Sam has spearheaded initiatives in personalized medicine, immunotherapy, and other therapeutic technologies. In today’s episode, we’re also joined by ARK’s CEO/ CIO, Cathie Wood, who helps provides her insights on macrotrends currently affecting the biotech industry as we come out of last week’s J.P. Morgan Health Care conference. Tune in to hear more on costs of genomic therapies, AI integration, and why Sam believes the “roaring twenties” of biotech may be on the horizon. “Every pharma company will have to have a cell gene therapy unit otherwise you risk being left behind” – @CrisprSam Key Points From This Episode: Why today is an exciting time for biotech Why Cathie believes macro factors, such as fears of inflation and valuations, are determining the present course of genomics companies Innovations and Improvements emerging in the biomedical innovation space The importance of former iterations of patented CRISPR-Cas9 for future treatments Will the timeline for advancing drugs to market shrink with time? Potential gene-editing developments in the near future – including the balance of ex vivo and in vivo The possibilities of what it will take to expand human life, while also treating rare diseases Sam on why having a capital base for sustainable funding could lead to better long term effects Moonshot Ideas and the next 10 years