Our Health & Life Sciences team returned from this year's annual JP Morgan Healthcare Conference in San Francisco with discussions around partnerships and consumerism particularly reverberating. What made the biggest impression on Partner David Campbell, who follows biotech and life sciences trends for Oliver Wyman, was what happened outside the SRO presentations. In less frenzied corners of the conference, he found creativity and novel approaches emerging:
The 2016 edition of JP Morgan’s annual healthcare conference has been, in a word, incredible. The sheer volume of healthcare companies, CEOs, and analysts is remarkable on its own. But there is a quieter side of JPM worth noting.
Over the last few days, I’ve had meetings with several companies, many as 1:1 discussions in hotel rooms and local offices. For many of these businesspeople, JPM is a magnet for other potential partners and financiers that they can see while here. Partnering has been a strong theme.
One of my meetings, with Nanomix, a San Francisco-based POC diagnostics device company, revolved around the topic of royalty financing - and yet again the partnership theme emerged. We began to discuss the company's potential in a developer's kit, and an “app-store”-like model for POC diagnostics. In this model, third-party diagnostic firms using blood-based markers, for example, could piggy-back their diagnostic “app” on Nanomix’s diagnostics and platform instead of building and commercializing their own. This would create a marketplace that leveraged tech expertise and momentum, while letting the others focus on their own science and development.
Similar discussions also took place with surgical assistance device companies and drug development firms looking for new partners - all of these in 1 on 1 settings, away from the incredible hustle of the conference, on the quieter side of #JPM16.