This week in Techbio happenings is focussed around highlights from a fantastic week back at JPM! So much energy and so great seeing so many fantastic minds! #techbio #JPM23
1/ Exciting to be back at the JP Morgan Healthcare Conference after 2 years of virtual meetings! In-person, the energy is back, and it was great to see both familiar & new faces building great things in the techbio space. #JPM23
2/ This conference is always a great opportunity to see innovative minds in healthcare. Exciting founders, investors, & pharma leaders in attendance. The momentum & energy in the city this week is a great sign for the year ahead.
3/ First off, we kicked off #JPM23 with the @ArtisVentures TechBio cocktail party! Thanks to the team and many guests for making this such a great start to the week.
4/ Before we dive in, a few trends we are seeing heading into 2023…
5/ Total VC dollars deployed in Seed/A in H2 ’22 (~2.5B) declined by almost 50% from highs in H2 ’21 (~4.9B)… but we saw round size and valuations hold up. Great companies are still getting funded at competitive levels, though $ are harder to come by
6/ While total healthcare VC investment declined from 2021 highs, 2022 was a record year in early stage (seed/A) health tech investment… by round size, total investment, and valuation… but investors excited about new digital tools w/ clearer path to profitability
7/ Uncertainty in capital markets led many to delay their rounds until 2023. That, coupled with many who raised in frothy ‘21 returning to the markets, should make for a very competitive year… data, revenue, and minimal burn even more important
8/ IPO market dried up in 2022. But with record cash on pharma balance sheets, we didn’t expect private M&A activity to be as slow. The giants looked to the public markets instead for acquisition last year, and are poised to find private market deals (some bargains) in ‘23
9/ The IPO and M&A halt was particularly stark in the world of healthtech: healthtech exit values (IPO + acquisitions) totaled $62B in 2021… and $2.2B in 2022. With growth funding hard to come by, we expect to see M&A tick up this year as players look/are forced to consolidate
10/ Providers continue to deal with rising costs, burnout, and inefficient workflows. Protip: Differentiate on margin improvement, revenue generation and be prepared for even longer sales cycles
11/ Companies raising by marketing themselves as "AI drug discovery cos" no longer have that luxury. Protip: Figure out what makes you special beyond computational bio/ AI? Novel biology? Pharma parnterships? Great grants? In vivo data? every bit helps.
12/ Now turning back to JPM - many organizations make big announcements around the conference… here are some that stood out:
13/ Tessera Therapeutics (@TesseraTx) steams ahead in the wide new world of DNA-editing therapies. Exciting preclinical data in nonhuman primates with their delivery system, a critical step toward in-human studies:
14/ After 12 years at the helm and overseeing an innovative, protein-based COVID vaccine program, @Novavax CEO Stanley Erck is stepping down:
15/ Speaking of COVID, mRNA vaccines are heating up. @Moderna_Tx announces it plans to hire thousands of new employees and double its R&D budget:
16/ What’s better than a planned $200 genome price tag? A $200 genome that’s already available. @ElemBio announces their new sequencing system during #JPM23:
17/ @bradloncar talks with @artisventures Pioneer Bahija Jallal (@JallalBahija) all things immunotherapy and drug development:
18/ Gene therapy market continues to heat up. @bluebirdbio announces plan to bring novel gene therapies to the US:
19/ @roivantsciences optimism rising after phase 2 readout of RVT-3101 and phase 2 and 3 readouts for brepocitinib for lupus and dermatomyositis respectively.…
20/ @Humana increases enrollment in 2022 after poor growth in 2021 and is hopeful for consistent growth in 2023 for Medicare Advantage enrollment…
21/ @AmitEtkin presents phase 2 data for ALTO-100 for major depressive disorder developed by @AltoNeuro at #JPM23 with hopes of enrolling patients for phase 2b soon.
22/ #JPM23 presentation by @KarunaPharma shows hope for KarXT NDA submission mid-2023 and to start phase 3 of ADEPT-2 trial and phase 3 of the ADEPT-3 trial in 2023 in treatment of schizophrenia.…
23/ New strategies in diagnostics on display at #JPM23 - Freenome’s Mike Nolan highlights partnering with CVS and Cerner to increase accessibility. @freenome @CVSHealth @Cerner…
24/ Activ Surgical (@activ) has completed their first AI-enabled surgery, pioneering a future in which AI works hand-in-hand with surgeons to create better outcomes for patients @ameenaelbibany…
25/ @US_FDA Commissioner @DrCaliff_FDA discusses new standards for accelerated approvals, clinical trial reform, inclusivity and combating misinformation…
26/ Diversifying databases with 30,000 African-American genomes will go a long way in creating equitable health outcomes (partnership b/w @illumina, @NashvilleBio, @Amgen):
27/ @atulbutte highlights the increasing number of AI-algorithms cleared for clinical use - practical applications are already here!
28/ @CVSHealth reportedly exploring an acquisition of Medicare advantage-focused @OakStreetHealth, valuing it at $10+B… and has invested $100M into Carbon Health to pilot primary/urgent care in retail stores. Companies continue to try to meet patients where they are
29/ @cuehealth was selected by @mnhealth to deliver free telehealth services to Minnesota residents. Two years into the pandemic, digital players are finding ways to stick around…
30/FTC proposed banning non-compete clauses to allow workers to change employers and protect economic liberties, a rule that could increase wages by close to $300 billion/yr. (ABOUT TIME!)
31/ Overall a great return to in-person events - here's looking to #JPM24 and a great 2023 for TechBio!

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May 5, 2020
13 vaccines are being investigated in humans with a majority of these trials being conducted in China.
Today Pfizer and BioNTech dosed the first participants in the US for its mRNA vaccine at NYU and Univ. of MD. This is in addition to the trial that was kicked off in Germany last week.
4 BCG vaccines are in trials across the globe after numerous studies have shown a correlation between the vaccine and reduced risk of various infectious diseases.
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