By Jason Spark, Chief Biotech Officer, Inizio Evoke Comms
#JPM25 was productive, inspiring, and filled with irreplaceable moments and connections. On the plane journey home, I had the chance to reflect on the week. Here are some of my key takeaways:
Bulls and Bears
The Bulls argue that the biotech market is expected to rebound in 2025 for many of the same reasons they thought it would in 2024. Improved capital markets and easing interest rates clear the path for well-funded private companies to go public. At the same time, large-cap pharma, sitting on substantial cash reserves, seems poised to reignite M&A activity. For Bears, there is still a lot of uncertainty and risk aversion in the markets. Which direction is inflation going? What will the Federal Reserve, do with interest rates? How will the FDA policy impact the pace of drug development and new product approvals?
Fatigue factor on IPOs, financing, and M&A
“Fatigue” was a less-than-encouraging word that came up in several discussions. Investors are fatigued by seemingly irrational market behavior. Biotech leaders are fatigued by deal valuations presented by potential partners and collaborators.
Roll up your sleeves
This was an encouraging counter to any concerns over fatigue. Optimism prevailed as it often does during the J.P. Morgan Healthcare Conference, but companies and investors accept that it will take time, sweat, and hard work to see the growth in deal flow this year. This is a resilient industry.
The meteoric rise of GLP-1 therapies
On the heels of regulatory approvals of GLP-1s in indications beyond diabetes and obesity, clinical studies are now exploring improved molecules, multi-target treatments, and oral formulations. They also evaluate indications beyond diabetes and obesity, such as cardiovascular health and CNS disorders. The field has room for multiple winners, and the opportunity was a common topic at the investment bank receptions this week.
How can you not be excited about the science?
Those with broad exposure to the sector stand to benefit from trends like the GLP-1 revolution. Disease-focused investors are targeting high-impact areas such as Alzheimer’s, neuroscience, oncology, immunology, and rare diseases. Platform-focused investors find fertile ground in AI, gene editing, ADC, and radiopharmaceutical technologies.
The Biotech CEO Sisterhood
What a moment on Tuesday when women leaders, advocates, and supporters assembled in Union Square to create a sea of pink. Check out the photos on The Biotech CEO Sisterhood's LinkedIn if you missed them - impressive and inspiring!
Mecca for biotech storytelling
I couldn’t help but think about the vast number of companies pitching their story within a 3-mile radius at any given moment during the week, it was truly energizing!
Connecting, collaborating, and leading at #JPM25
The Inizio Evoke Comms team showcased its expertise and commitment at #JPM25, engaging across the industry’s key events and networking hubs. From in-person client meetings and hosting media at our suites to attending high-profile events like Endpoints, Fierce, STAT, and Biotech Showcase, our team demonstrated the breadth and depth of our capabilities, and I couldn't be more proud!
Let's connect to discuss some of the insights that were uncovered during #JPM25, reach out here to have a chat.