Reflections from JPM 2025: A CEO’s Perspective on Biopharma’s New Era

Having just returned from the 2025 JP Morgan Healthcare Conference, I am energized by the transformative developments shaping the biopharma industry. With over 8,000 professionals in attendance and more than 500 companies presenting, the conference underscored the resilience, creativity, and forward-thinking mindset driving the sector today.

The themes of this year’s conference — strategic M&A, breakthroughs in oncology, AI-driven advancements—aren’t just industry trends; they’re defining a new era for healthcare. As an active player in the space, I see these changes as opportunities to redefine how we deliver value to patients and the industry.

Surge in M&A Deals

Precision medicine and targeted therapies drove major announcements. Companies like Eli Lilly and GSK showcased how innovative strategies are transforming cancer care and advancing personalized treatments.

• Johnson & Johnson acquired Intra-Cellular Therapies for $14.6 billion, marking the largest biotech acquisition since Pfizer’s purchase of Seagen in 2023.
• Lilly’s acquisition of Scorpion Therapeutics’ PI3Kα inhibitor program, including the experimental therapy STX-478, reflects the growing emphasis on precision oncology. This approach aims to improve outcomes for patients with advanced solid tumors by targeting specific genetic mutations.
• GSK’s acquisition of IDRx highlighted the increasing importance of precision platforms that enable therapies tailored to individual molecular profiles. These moves reflect the industry’s broader shift toward redefining the standard of care through innovation.
• AbbVie has obtained the option to license a new blood cancer drug candidate from Simcere Pharmaceutical’s unit for markets outside China, a deal valued at $1.06 billion.

M&A: Strategic, Targeted, and Smarter

Mergers and acquisitions were a central focus at JPM 2025, with over $18 billion in deals announced during the first two days. However, the story isn’t just about large deals. The nature of today’s M&A activity is more deliberate, focusing on smaller, strategic deals that address specific gaps in therapeutic pipelines.

The rising need to replenish pipelines in the face of upcoming patent expirations is a key driver of this activity. By 2028, over $300 billion in biopharma revenue is at risk due to patent cliffs. To offset these losses, companies are strategically targeting assets earlier in development, particularly pre-Phase III candidates, where innovation is often most promising.

This shift reflects a growing trend toward acquisitions that align closely with therapeutic area expertise. Companies are not just acquiring assets—they’re refining their portfolios, divesting non-core programs, and focusing on areas where they can deliver the greatest value.

AI: Transforming Biopharma at Every Level

Artificial intelligence has moved from a concept to a cornerstone of biopharma innovation. At JPM 2025, AI’s role in revolutionizing drug discovery, clinical trials, and patient outcomes was undeniable.

• AI-Driven Discovery: Companies like Exscientia demonstrated how AI-powered platforms are accelerating drug discovery by identifying and optimizing candidates in record time. This technology allows for a level of efficiency and precision that was unthinkable just a few years ago.
• AI in Clinical Trials: AI is also transforming clinical trial designs. From optimizing patient recruitment to real-time data analysis, AI tools are helping reduce trial timelines while improving data quality. This not only accelerates time-to-market but also enhances the overall patient experience during trials.

At Cromos Pharma, we’re embracing these advancements by integrating predictive analytics into our trial processes. This approach enables us to anticipate and mitigate bottlenecks, ensuring our clients achieve faster, more efficient results without compromising on quality.

Biotech Funding: A Slowly Brightening Outlook

While the funding landscape remains challenging, there are encouraging signs of recovery:

• Venture Capital Rebounds: Overall startup funding in 2024 reached close to $314 billion — compared to $304 billion in 2023 — up around 3%. Although the number of deals was lower, the average deal size increased, reflecting growing confidence in high-potential programs.
• IPO Activity Picks Up: Biotech IPOs also saw a modest recovery, with 30 offerings raising $4 billion last year. While far from the heights of 2021, this uptick signals a renewed appetite for innovative companies.

However, early-stage funding remains a challenge. Investors are increasingly focused on robust clinical data and proven management teams. For early-stage companies, building a compelling business case with a clear path to value creation is critical for securing funding in this environment.

Agile Mid-Sized CROs: A Key to Biotech Success

In today’s evolving biopharma environment, the role of agile mid-sized CROs like Cromos Pharma is more critical than ever. Sponsors are seeking partners who offer the perfect blend of global reach and personalized service, with the ability to pivot quickly to meet dynamic needs.

• Flexibility in Execution: Unlike larger organizations, mid-sized CROs can adapt their approach to suit the unique requirements of each sponsor. Whether it’s navigating complex regulatory landscapes or managing trials in challenging regions, our agility ensures we can provide tailored, high-quality solutions.
• Innovative Partnership Models: Our “No Patients – No Payment” model exemplifies our commitment to aligning incentives with client success. This innovative approach fosters trust and ensures mutual accountability, making us a preferred partner for biotech companies navigating today’s challenges.

Conclusion: Shaping a Transformative Future

The 2025 JP Morgan Healthcare Conference reaffirmed that biopharma is entering a transformative period. Strategic M&A, advancements in oncology, AI-driven innovation, and the rising prominence of agile mid-sized CROs are shaping a future full of opportunity.

At Cromos Pharma, we are proud to play an essential role in this journey. By delivering smarter trials, leveraging real-world data, and embracing cutting-edge technology, we are helping our partners turn challenges into breakthroughs.

The tools, talent, and resources available today are unprecedented. By fostering collaboration, embracing innovation, and staying focused on patient outcomes, we can navigate the complexities of this era while delivering on the promise of better healthcare for all.