'The Blech Effect': Release date, plot, trailer and all you need to know about the documentary on tech investor David Blech
A pioneer investor in a flourishing industry, Blech was deemed the 'King of Biotech' in the 1980s for his flair, dubbed 'The Blech Effect', which only seemed to earn him success after success
The dreams of the 20th century were all about million-dollar success and one percent. Some may have married into wealth or were just born rich. But there are those rare gems that built an empire and fortune all on their own, with nothing but sheer talent and ingenuity. However, some success stories of business and affluence have had to come to a halt abruptly. Such is the case of former millionaire David Blech.
A pioneer investor in a flourishing industry, Blech was deemed the "King of Biotech" in the 1980s for his flair, dubbed "The Blech Effect", that seemed to earn him success after success. Fast forward to 30 years later, and his life has taken a major 360. The entrepreneur is $11M in debt and awaiting a possible prison sentence. A new documentary titled 'The Blech Effect' looks into the life of the tech investor as he seeks ways to reverse his fortunes by developing a potential cure for Alzheimer's Disease.
'The Blech Effect' will be available to stream on-demand on August 25.
All David Blech wanted in life was to be remembered for his work in crreating an industry that saves millions of lives. Instead, years after establishing himself as a millionaire and tech investor, he finds himself head-deep in a multi-million-dollar debt, struggling to keep his family afloat and awaiting a possible jail sentence. 'The Blech Effect' is a feature-length documentary chronicling the former millionaire's rise and fall. A yeshiva boy from Brooklyn, he helped start the biotech industry as a pioneer investor in companies that have now developed to be the trailblazers of the world's greatest medical cures.
Blech's fortune expanded as the industry grew and he was once cited by Forbes magazine on the 1992 Fortune 400 list as being worth more than $300M. In fact, his influence on the market was dubbed into an industry term, "The Blech Effect", which means incredible yield from combining big start-up investment, technology and medical science.
His empire, however, crumbled around him, with his biopolar disorder and gambling addiction threatening to bring him down. As a possibility of a prison sentence hangs over his head, "The King of Biotech" races to develop a potential cure for Alzheimer's Disease that could be his ultimate saving grace, reverse his fortune and rebuild his legacy.
Blech's first biotech venture investment, Genetic Systems, sold for $294M in 1986, and in 1989 he co-founded Icos Corporation that received $33M in start-up funding. Today, the companies that he helped create amass a value of $144B. They have developed two major cancer drugs and tests to detect and prevent female sterility from Pelvic Inflammatory Disease, erectile dysfunction drug Cialis and more.
Now, Blech is facing the possibility of serving prison time after pleading guilty to two counts of securities fraud. He is also dealing with his bipolar disorder, which he believes led to his financial crimes and gambling addiction.
His family's last hope is Blech's only remaining asset, a stake in Intellect Neuroscience, a company developing a drug to treat Alzheimer's disease. If successful, the return on their investment will help them pay their rent and afford schooling for their special-needs son. Chances are that their millionaire status would also be restored.
'The Blech Effect' is the feature directorial debut of David Greenwald, who spent most of his career doing award-winning editing work for Jonathan Demme, Spike Lee, Ernest Dickerson, Tim Robbins and Ed Burns. He has recently produced and edited a short documentary on Ornette Coleman.
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