Hot topic: JPM shines bright amid the January gloom

2025 has already begun with drama in the U.S., as Los Angeles recovers from deadly wildfires and Donald Trump is sworn in for his second presidency.

And so it was that the mood going into the annual JP Morgan Healthcare Conference was clouded by uncertainty.

With its timing in January, JPM is often seen as a bellwether for the coming year in life sciences – and it’s fair to say this year’s event was a tonic for the January blues.

However, on this occasion, San Francisco was bathed in sunshine and the deals for which the event has become known came thick and fast. Johnson & Johnson’s $14.6 acquisition of Intra-Cellular Therapies was the highlight of the event, along with Eli Lilly’s acquisition of Scorpion Therapeutics. 2025 looks to be exciting for deals, as big pharma companies are on the acquisition trail.

We saw some serious financings with a large Series A for GLP-1 entrant Verdiva, showing that the obesity and diabetes juggernaut is not stopping any time soon.There were also insightful discussions around China’s R&D revolution, with growing recognition of the science and assets emerging from the superpower. Artificial intelligence (AI) and how it can effectively revolutionise drug development continues to be a talking point – 2025 will be an important year for its adoption and regulation. And, of course, innovation and collaboration remained key themes throughout the event.

Attendance was lighter than in past years, with some European companies suggesting they had already done their dealmaking during London Life Sciences Week in November instead.

There was certainly cautious optimism in the air, reflecting the findings of Optimum’s recent VC investor survey. Also, not surprisingly, oncology, diabetes and obesity were cited as the major areas of interest. Along with women’s health – which is seen as a largely untapped market with enormous potential.

Fingers crossed for 2025.