Attending a large conference, medical congress, or trade show can be both exhausting and exhilarating. The decision to go in the first place depends on one’s goals, the expected ROI, and perspectives on who else might be attending.
BIO International took place in Boston this past week, and I was fortunate to attend with additional members of both The NemetzGroup (Ray Mankoski, Liz Tufo, Cristiana Salgado-Braga) and the Corval team (Allison Murphy).
My primary purpose was to moderate the panel, “Embracing RWE Early and Often,” with Ray Mankoski, MD, PhD; Mei Sheng Duh, MPH, ScD; Sara Silacci; and Ruth Jacob, PhD. They spoke about real-world evidence through the lens of patients, regulators, payers, companies, and the importance of:
- RWE Quality and Fit for Purpose
- Contribution to Totality of Evidence
- Best Practice and Reproducibility
- Responsible use of AI
- Ways to Differentiate in the Market
Beyond that one-hour session, I had the opportunity to do what I love: connect with people, attend sessions to learn, find inspiration regarding where the industry is headed (i.e., how much to worry), and create my own “gestalt” of the biopharma world at this point in time.
Here are a few points that have stuck with me after two robust daysrunning around the Seaport:
- Collective gatherings from across geographies build communities, and they matter: Life Science Cares breakfast; Termeer Institute Connections Empowering Cures event; biotech sisterhood; exhibit — SO many countries and states.
- Multiple states and many countries are striving to build their own biotech ecosystems and are investing heavily in them.
- Former President George Bush is a hilarious, self-deprecating speaker. He expressed concerns about our institutions, the moral and security priority of addressing global health crises, and the HIV/AIDs epidemic during his presidency when PEPFAR (President’s Emergency Plan for AIDS Relief) was created. The interview emphasized the synergy between government initiatives and private‑sector innovation. I was surprised at how funny he was and how much I enjoyed the talk.
- Governor Josh Shapiro sparring with Governor Maura Healey over whose commonwealth is more appealing to biotech. I mean, really?
- FDA Commissioner Makary spoke about the reforms, modernization, and support for advancing therapies through the regulatory process in a timely manner. One couldn’t disagree with the premise, the proposed improvements in the process, or the listening tours his staff are holding. However, in other sessions, biotech executives discussed the new challenges they face with the FDA missing deadlines and offering conflicting guidance. Time will tell.
Bigger Collective Takeaways:
- The industry is generally accepting the new reality (constrained capital, unclear government role, and global challenges) and figuring out how to adapt.
- Cash is king, and focusing on the lead asset to reduce risk and get it into clinical development is an appealing strategy for investors, as later-stage, derisked assets become their focus.
- Knowing the commercial story for your lead asset and exploring multiple scenarios to get to market remains essential.
- Agile decision-making across multiple scenarios is the most effective way to navigate a changing environment.
- AI and machine learning are increasingly becoming a pragmatic question of “How do we?” vs. “Should we?” Enlisting experts who can help determine the best option for your company’s needs is a wise decision to ensure it is fit for purpose.
- There is significant concern about the brain drain in US biotech and how China and, to a lesser extent, Europe will be the beneficiaries of investment dollars and talent.
- That concern, on the one hand, is balanced by the apparent increased receptivity to China’s innovation, efficiency, and speed of development as a resource for partnering, engagement, and generating data.
- Wearing cute white sneakers with my suit was a brilliant decision for the many miles of walking through the convention center and the surrounding area.
The last session I attended featured John Crowley’s interview with Michael Strahan.
Strahan is a Super Bowl champion, journalist, anchor on Good Morning America, and founder of multiple businesses. He discussed his twin daughters, one of whom, Isabella Strahan, was diagnosed with a brain tumor at age 18, and how that impacted their family, their experience with the healthcare system, and his perspective on life. As a spokesperson for St. Jude’s for many years, he remarked on how different it is to “read a line” vs. “be in the story.”
As the conversation shifted to his many businesses, including his “talent management” agency, he shared his operating principle of HLYB, which he preaches to many celebrities: Hustle Like You’re Broke. He gave examples of wealthy stars who had big goals but didn’t want to “do the hustle” to achieve them.
As I listened to those examples, the parallels to our industry in 2025 were clear. We are in unprecedented times regarding innovation, investment, capital markets, regulatory pathways, and go-to-market strategies.
Whether you are a biopharma company, a service provider, or an investor, the days of abundant resources and the ability to spend big on someone else’s dime are over for now. We all need to HLYB for the achievement of our goals and to ensure the focus on delivering for patients remains central to our mission.