22 Tweets from JPM 2024 not to miss
The 42nd J.P. Morgan Annual Healthcare Conference took place from January 8th to January 11th, 2024 in San Francisco, CA, USA. Our team at OncoDaily has collected 22 interesting tweets from the JPM 2024.
Biotech equity capital markets boomed last week.
It was the most capital raised in the week prior to JPM in over a decade: $2B+ raised across 9 deals (according to Brian Gleason at RJ).
Cash liberated from M&A needs to be put to work – virtuous cycle of biotech.
2. Farzad Mostashari (@Farzad_MD)
Best moment of JPM2024 so far, climbing the hill to Grace Cathedral and sitting with this for a minute with Toyin Ajayi.
3. Rasu Shrestha (@RasuShrestha)
Yeah, I tend to agree. 😅
Sights around JPM 2024.
4. Ruby Gadelrab (@DivaBiotech)
When they say women’s health is niche you say:
50% of the population birthing 100% is the biggest possible market size.
A couple of my observations at JPM 2024.
Keep a close eye on Nvidia’s biological platform, featuring Recursion Pharmaceuticals, LOWE, Terray Therapeutics, and more. By modeling human cells akin to GPT datasets, we’re unlocking vast potential in drug discovery. A groundbreaking leap forward!
6. Atul Grover (@AtulGroverMD)
One thing I’ve noticed in JPM2024 in almost all discussions — people can’t access specialist physicians in a timely manner.
Neuro, rheumatoid arthritis, endo, surgical appt delays can’t be fixed long term without addl support for residency training.
7. Chris Leiter (@chrisleiter_)
A sea of suits …so it’s got to be JPM 2024
Pharma’s annual powwow is kicking off and so far – a record number of deals have been announced.
Excited that Atria Ventures is hosting a number events this week on programmable biology, life sciences digital tooling, software in biopharma and decentralized science with our friends at Pfizer, Obvious Ventures, 8VC, Fifty Years, Brex, and Molecule.
8. Ethan Perlstein (@eperlste)
$1 billion. 1000 employees. 10 years. 99 failures. 1 success.
We’ve come to accept failure in drug development.
We’ve normalized capital inefficiency.
We’re not accelerating fast enough.
That all ends now.
9. Sarah Thomas (@believenbalance)
The people this week. The connecting. The collaborating. The dreaming. It was all so inspiring.
10. Shahram Seyedin-Noor (@ShahramSN)
The vibe this year was positive at JPM 2024 – and the streets were even clean with intermittent good weather!
But I can’t help but think that this is the calm before the storm. It will be a consequential and disruptive year!
11. Frederic Jung (@Frederic_Jung)
France is an innovation powerhouse in Healthcare. 35+ French startups are participating in the SF JPM 2024 Health Care Conference .
Today Lise Alter, the French Healthcare Innovation Agency’s CEO, presented the Agency’s strategy to help bring French innovations to patients worldwide.
12. Noubar Afeyan (@NoubarAfeyan)
Together with Samsung, we’ll pursue transformational innovation to make even bigger leaps for human health.
13. Garrett Rhyasen (@grhyasen)
Just in time for JPM24 I’m happy to share the news of our agreement to acquire Aiolos Bio, a clinical-stage biotech focused on developing medicines for respiratory diseases. Thanks to everyone who worked tirelessly throughout the holiday to make this deal happen!
14. Tatyana Kanzaveli (@glfceo)
Reflecting on my time at JPM24, I’m struck by the incredible power of human connection amidst the whirlwind of technological advancement. Sure, AI is redefining healthcare with its leaps in precision medicine, operational efficiency, and more. But what resonated most deeply with me was the irreplaceable value of real, human interactions.
Walking through the conference, I saw faces light up with understanding, hands shake in agreement, and ideas spark from casual conversations. These moments reminded me that behind every algorithm and data set are people – passionate, curious, and striving for betterment.
AI might be leading a healthcare revolution, but it’s the human spirit, our shared connections and experiences, that truly drive innovation. It’s in these personal, less formal interactions where the magic really happens. At JPM24, amidst the talks of predictive models and ethical AI, I was reminded that at the heart of healthcare transformation are people connecting, learning, and growing together.
15. Angelos Georgakis (@angelosgeo)
Reflecting on JPM24…
This is not a healthcare conference; it’s a people conference!
The human connection. The interactions. The conversations.
Business gets done at JPM but it’s more about the people.
I’d go as far to say that JPM is a spiritual event; it’s good for our souls!
It’s a celebration! It coincides with the beginning of the new year! New beginnings, excitement, collaboration…
Btw I didn’t know that JPM exists because of biotech!
“In 1983, a pioneering investment bank named Hambrecht & Quist (H&Q) saw the burgeoning potential of the biotechnology industry. To foster connections and catalyze growth, they planted the seed of the Healthcare Conference in San Francisco’s iconic Westin St. Francis Hotel. It was an intimate affair, with just 20 companies showcasing their innovations to a mere 200 attendees. The focus was laser-sharp: biotech, the industry H&Q championed.” (From the website of Gain Tx).
In another geeky conversation I had with John Maraganore this week about leadership in biotech, John said, “The biotech CEO/leader should be a content leader, not a process leader. You can’t sit on your throne monitoring the process; you should be involved. If drug discovery is the most difficult problem in the world, you can’t let the others solve it! You need all the brilliant minds to come together.”
JPM is the extension of that principle. JPM is a “super company” where leaders of companies come together to solve some of the most challenging problems in human health and envision the future of healthcare.
Isn’t it amazing to have all the brilliant minds who want to have an impact on human health all together around Union Square?
Isn’t it amazing to bump into your old colleagues (and your future colleagues!) on every block around Union Square?
Think about how many hugs you’ve given this week, how many times you waived at someone or shouted heeeey across the street! Magical…
Sarah Holland, the CBO of Cureteq, said to me: “The most heartwarming feeling for me is when you run into old colleagues who say… remember that time when we worked together on that difficult problem… remember our team, the bonding we had, it was the best time of my career…”
JPM is all about serendipity, but JPM serendipity is not so serendipitous!
At JPM you meet the people you need to meet! And they meet you! You manifest to each other!
How many collaborations and breakthroughs have happened in our industry because of a conversation or a business card exchange during the 42 JPMs?
There’s so much more I want to write but my flight is boarding!
See you all next year friends!
Loving you, Angelos.
On the importance of building a strong company culture at a biotech company incl in order to survive a downturn or when stock price tanks—Josh Boger said: “technology is acquirable, culture isn’t acquirable.”
17. Andrew Dunn (@AndrewE_Dunn)
NVIDIA CEO Jensen Huang to a standing room only room riffs to laughs on not talking to his usual crowd here at JPM24
“Target, inhibit … the list of words you guys use are just generally angry.”
18. Punit Dhillon (@PunitDhillon)
Great start to the week, let the deluge of email follow-ups begin from JPM24 Call it biotech buzz but there is certainly a period of rapid innovation underway and hopefully it translates into even greater success for patients – here is my top themes heard this week in no particular order:
1. Obesity and related co-morbidities is an unmet need and not solved alone by incretins – there continues to be white space.
2. Oncology treatments and tumor specific treatments continue to evolve – there is a next generation beyond checkpoints that is driven by innovation in cell therapy, ADCs and radio pharmaceuticals
3. AI is not just a buzzword – continues to be an important factor to evaluate new available technologies in R&D along side existing bioinformatics and DL/ML already in most workflows
4. 2024 Election cycle could produce enhanced volatility
5. Lots of approvals in the Pipeline – ~90 + PDUFAs expected in 2024; Creating lots of overall growth opportunities in the industry.
6. Investors (Specialists) will continue to be discerning – Looking for quality assets, teams, existing investors and clinical inflections; majority of class of ‘21 & ‘22 IPOs have not been able to execute a follow-on offering and will need to put out superior data to clear the hurdle.
7. Robust M&A Market – M&A continues to be a strategy and fall back for companies and big pharma has record levels of dry powder; and as PubCo valuations remain low and advantageous to acquirers. Positive signal to generalist investors being more optimistic to life sciences and growth. Expect Centerview to have another record year 🙂
8. XBI Rollercoaster – We are back at 2015; Probably not a V recovery but steady growth and still correlated with inverse to 10-year treasury yield rate
9. Overall cautiously optimistic market sentiment – with loosening inflation and stable interest rates appear on the horizon; while biotech innovation appears to be better and more orderly than it’s ever been before
10. JPM Productivity is UP – unlike previous experiences, 2024 was super targeted/focused for our meeting schedule and our team was very organized and efficient with the purpose behind each formal or intro meeting. Still great to run into old colleagues and appreciate the robust bio ecosystem present in SF during JPM week
19. Barry Greene (@BarryGreene)
Navigating CNS drug discovery is undeniably challenging, but recent surges in scientific & treatment breakthroughs are incredibly promising. Read my thoughts on how we can transform this momentum into a watershed period of innovation in Biospace: https://bit.ly/4aLkjKa
Wrapped up JPM2024 w/ 3 takeaways
1. As Angelos Georgakis stated, it’s about the people & connections.
2. There are people that look like me leading in biopharma…an army in fact… and that’s a breath of fresh air.
3. People are cautiously optimistic for ‘24. we’re in recovery mode.
21. Greg Slabodkin (@Slabodkin)
We’ve reached the end of JPM2024! What an amazing week in San Francisco! I’m so grateful for all the conversations BioSpace had at JPM24. There’s an air of optimism regarding biopharma in 2024. Though it’s not all downhill from here, the momentum appears to be gaining.
22. Paras Sharma (@paras_biotech)
Until next time, SF #jpm24
