J.P. Morgan Takeaways with Jeanne Hecht

Along with many other healthcare executives and investment professionals, I recently traveled to San Francisco for the annual J.P. Morgan Healthcare Conference week. One of the most well-known events in our industry, JPM Week is an opportunity for learning, networking, and kicking off a new year of innovation. Below I’ve detailed my top takeaways from the event, and what I’m looking forward to in 2025. 


1. JPM was a week for movers and shakers. 

According to Forbes, we saw over 100 deals greater than $100 million in 2024. When compared with the median deal size in 2023, this signals a shift in dealmaking for the pharmaceutical sector. We’re seeing indications that momentum will continue in 2025, and JPM Week was full of examples. Already this year, we’ve seen announcements from giants like Johnson & Johnson, Roche, GSK, and Eli Lilly, indicating that the needle is moving in the right direction. 

Throughout the week, I saw many people finalizing term sheets and/or advancing discussions with investors. JPM Week allowed many of us to have M&A-centered discussions and focused investment networking. I look forward to seeing what else plays out this year.

2. U.S. Clinical Trial starts are on the rise in 2025! 

Going into JPM Week, I was optimistic that 2025 would be a big year in the clinical trials space, and this prediction was only strengthened while in San Francisco. According to Global Data, the United States has more than 400 clinical trials of all phases planned to start in 2025. 

Specific to ophthalmology, trials are planned for AMD, eye infections, glaucoma, keratoconjunctivitis, retinitis pigmentosa, and more. Sponsors of all sizes are gearing up for a big year, and JPM Week was an appropriate way to launch that activity with participation from companies like Adverum Biotechnologies and Annexon Biosciences to name a few. 

3. Another win for CRAACO. 

Suvoda and Greenphire kicked off JPM Week by announcing a merger between the two clinical trial software leaders. Technologies such as these that are actively working to streamline clinical trials from both a sponsor and patient perspective are critical to our ongoing success as an industry.   

When Jennifer Byrne and I first coined the term CRAACO nearly a decade ago, we had in mind technologies focused on making clinical trials more accessible and achievable. I’m thrilled to see activity like this happening from the jump in 2025.   


Overall, I walked away from JPM Week feeling cautiously optimistic about 2025. As always, the event was an opportunity to see and meet people from across the industry, and it painted a picture of a very exciting year ahead. And perhaps most importantly, the weather was perfect!


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