While much value has been created through biotechnology, there is still much work to be done in healthcare. Biotech Analyst Agustin Mohedas shares about three unmet needs which we hope to see eliminated through innovation in biotechnology.
We believe investing is about more than just returns. It's an opportunity to invest and support companies whose products and practices help make the world better. Eventide selects companies for their ability to create value. There's perhaps no better example of this than in the area of biotechnology.
Large, unmet medical needs meet technological innovations to generate value for patients. Let's talk about a few of these unmet needs that we spend a lot of time thinking about at Eventide.
Cancer. We've all been affected by it in some way, whether it's a loved one or a friend. And despite advances in therapies over the last 100 years there are still over 600,000 deaths per year in the U.S. alone.
Rare diseases. Another area of high unmet need is the area of rare diseases. We spend a lot of time at Eventide learning and thinking about the best treatments for rare diseases. There are over 7,000 of these disorders, the vast majority are caused by genetic changes, and 95% do not have an approved therapy. A rare disease is defined as a disorder that affects 200,000 people or less. And while this may not sound like a lot, there are over 30 million people in the U.S. that have a rare disease or will suffer from one in the future.
Alzheimer's disease. Alzheimer's disease represents 170 billion in direct U.S. healthcare costs today and the number of deaths has been rising due to the aging population. So this represents one of the biggest unmet needs today.
At Eventide, we believe investors can invest for both performance and to make the world a better place.
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Agustin Mohedas serves as a Senior Analyst for Eventide. He is primarily responsible for evaluating and monitoring new and existing healthcare investment opportunities in the portfolios.