THE AGENDA Letters 11 Dear Spear’s... Readers and experts share their views on mental health, Arabian culture and art’s role in ESG Brain food SIR – Your diary piece (Jim Mellon, Spear’s 76) is very interesting. It’s so good that you are dedicating efforts to finding means for longevity. However, what is paramount for a long, healthy life is one’s mental health. e . TheAgenda JimMellon DIARY Bioscience entrepreneur Jim Mellon has spent lockdown preparing for webinars and questing for the elixir of youth THE PANDEMIC SEEMS to have been the result of intensive farming and agricultural malpractices in the Far East. If there’s another one it could be a microbial one, which would be much worse – it could be like the Black Death. So we need to do something to change the food supply. I have a stake in Agronomics, which has invested $50 million so far on cell agriculture and ‘clean meat’. You can amplify animal stem cells through a medium and create whatever meat you’re trying to grow: chicken, pork or beef. We want to invest about $500 million by the end of 2021. QUALITY MATTERS Most people want to live longer, but living a healthier life is more important – especially the last 15 per cent of it. I’ve been preparing for a webinar for clients of UBS that explains the science behind longevity. That’s the major focus of my company Juvenescence and my colleague there Declan Doogan, Pfizer’s former head of drug development. We’ve raised more than $170 million in the past 18 months, which makes it worth $330 million, and we plan to take it public by the end of 2020. That should raise a further $300-500 million and make it one of the biggest in the field worldwide. GROWTH AREA Our first products, which facilitate organ regeneration from liver cells, will be going through phase-II trials this autumn. We’re filing eight new drug applications in the next two years and we’re also researching the possibility of regrowing the thymus, a gland just behind the sternum. This is where the T-cells that fight viral infections such as Covid-19 are made. Older people have heavily compromised immune systems as fewer T-cells are made in the thymus. It’s the same area of research that opens up the possibility of regrowing other vital parts of our body such as the pancreas (for diabetics) and the kidneys. We’ve also bought a portfolio of stem cells related to ageing, which is very exciting. And we’re only just starting. BOOM TIME Longevity science will, I think, lead to the biggest stock market boom ever. It will make the recent medical cannabis boom look like nothing. For the first time in the history of mankind, the elixir of youth, the promise of living THE SCIENCE OF LONGEVITY WILL REPRESENT THE BIGGEST INDUSTRY ON THE PLANET WITHIN 20 YEARS physical body, the Three components need to be taken care of: the physical body, the mind (emotions, likes and dislikes, impulses – like a child in us) and the intellect (the adult in us). The intellect is our ability to reason, weigh pros and cons, think clearly. We need healthy food and regular exercise for the body, and positive emotions for the mind. Excesses lead to diseases and energy depletion. 10 s some way to mitigate the devastation caused by ISIS. a longer life, will actually come true. There is no one pill that you can take, but a combination of several pharmaceuticals, gene therapies, gene-related technology and treatments could extend your lifespan to 120. I’m confident in predicting that the science of longevity will represent the biggest industry on the planet within 20 years, and that it will be affordable for everyone after about ten years of commercial exploitation. WEAR AND TEAR It is important to note that we’re not predestined to die. But as time goes on, the healing process of our body gets overwhelmed – wear and tear overwhelms repair. We gradually go into a process called ‘loss of homeostasis’, which signals that our inner chemical balance is beginning to get upset, which eventually results in death. There are some creatures out there, such as the C. elegans worm, which Google’s ageing company Calico is studying, that are made up of atoms and molecules just like us but don’t die naturally. Science has shown that the lifespan of a worm can be increased by up to 20 times using genetic manipulation. Similar principles can apply to humans. There is a huge amount of bioscience activity in the UK, which is not widely known. There have been negative developments in the form of Neil Woodford’s investments and the government’s lack of funding in this area. But now people like Sir John Bell are spearheading major efforts to build a home-grown industry. Increasingly, the nexus between VC universities and scientist-entrepreneurs that’s made the US so successful in this field is developing in the UK. More Juvenescence employees are based here than anywhere else, so we’re very much British. It’s very important to us that the UK retains its status as the second major centre for life sciences in the world. One of the reasons why the US is ahead is because drug prices are so high. If Joe Biden wins in November, they could come down. S As told to: Rasika Sittamparam t c n Th an int the Eas Isla abst the c repr Paradoxically, of course, the Arab world was the cradle of the culture it is now so keen to promote. The decimal number system and algebra (Al-Gabr) were introduced to Europe through the writings of Middle Eastern mathematicians. Islamic art, with its geometric abstract designs, developed the classical tradition of figural representation into a form where unity and order, but also freedom of expression, were key. And critically, from the perspective of a UK private client lawyer, the Islamic Waqf, a permanent endowment for charitable purposes that developed in the 9th century, bears marked resemblances to the English trust, and may have influenced its development. However, most important is the ability of the intellect to think clearly, sharply. Anxieties of the mind drain energy and age us. Strong intellect helps us be objective, make the right choices and maintain inner peace. Irrespective of its modern-day wealth and resources, we ignore the Arab world at our peril. Rosamond McDowell Payne Hicks Beach The intellect can be strengthened as we strengthen muscles in the gym, by questioning everything, never taking anything for granted, through regular study of right intellectual materials, reflection upon the knowledge acquired. Thus, one will develop clarity of thinking, dynamism in action and positive emotions – all that helps a long, healthy and happy life. Alexandra Kenna Savva & Associates Ltd Mind the Gulf SIR – I read with interest about the millions being invested in art galleries and museums across the Arab world (‘Cultural desert’, Spear’s 76), said in Taxing times SIR – As your readers will be aware, there is much speculation as to how countries will ‘balance the books’ in paying for the economic costs of the Covid-19 pandemic. In the case of the UK, the answer to this question has been pushed back a few months by the Chancellor delaying his November Budget. We can at least feel confident that there is strength and depth in the UK tax adviser community to guide clients through the next phase, as highlighted in your Tax and Trust Advisers Index (Spear’s 76). I am delighted to see so many peers recognised – from no fewer than 36 accountancy and law firms – many of whom I have had the privilege of working with, either at the same firm or on mutual client matters. While this may be seen as a list to pit us against each other, in fact we do work together across firms on a number of matters of mutual benefit for our clients and the wider taxpayer, usually through professional bodies such as the CIOT, ICAEW, STEP and the Law Society. In this challenging period to come, we will need each other. The private client adviser world is a small one but the list demonstrates the diversity of choice available to clients. Our profession will continue to grow and improve with some healthy competition, but also by bringing through the next generation of advisers. Recognition such as this in your magazine will give deserved confidence, as there may be no greater compliment than a recommendation from a peer and competitor. Nicola Roberts Deloitte The art of the image SIR – In 11 years in the global corporate art market, I’ve noticed a paradigm shift that has been sped up by the pandemic. The once ignored office of corporate social responsibility, sometimes just a bucket rattle at Christmas, is now turning into an integral part of business. People are now making buying decisions based on a company’s ethical stripes, and ESG credentials are being weighed alongside financial performance by investors. My company ARTIQ has noticed this change: clients are now asking for their art collections to be representative of the diversity of the people using their space and to show their ethical commitment. Examples of this include Hiscox aligning with Queer Frontiers, an LGBTQ+ art exhibition; the LSE’s 150m2 frieze highlighting students’ concern with the climate crisis; an international law firm’s commissions of an artist of colour who is included front and centre in its collection. I welcome this move towards businesses helping change minds and hope it will last. Not only is it the right thing to do, it’s also good for business. Patrick McCrae CEO, ARTIQ To submit a letter for publication in Spear’s, email arun.kakar@spearswms.com. All correspondence will be considered for publication unless otherwise stated.