BLOCKBUSTER OR BUST

Biotech is filled with big bets, but few are swinging for the fences harder than Osman Kibar, whose Samumed had just hit a $12 billion valuation when he appeared on the cover of Forbes May 10, 2016, issue.

“Samumed is finding it easy to raise huge amounts of cash because it believes it has invented medicines that can reverse

aging. Its first drugs are targeted at specific organ systems. One aims to regrow hair in bald men. The same drug may also turn gray hair back to its original color, and a cosmetic version could erase wrinkles. A second drug seeks to regenerate cartilage in arthritic knees. Additional medicines in early human studies aim to repair degenerated discs in the spine, remove scarring in the lungs and

treat cancer.” Nearly five years later, a couple of Samumed’s drugs have made it to late-phase clinical trials, but none yet are on the market.