Cathay Innovation Report from the 2024 JP Morgan Healthcare Conference

Cathay Innovation
4 min readJan 19, 2024

By Cathay Innovation

The four-day J.P. Morgan Healthcare Conference, or “JPM,” which takes place every year in San Francisco, is recognized as the world’s largest healthcare symposium, attracting a diverse crowd of over 8,000 invite-only attendees with thousands more coming for side events, including investors, entrepreneurs, scientists, bankers, and media professionals. The event is a platform for discussing advancing medical innovation and drug development through new deals and partnerships. Additionally, it offers an opportunity to gauge the industry’s mood, with the previous year marked by challenges but also by the prospects of the vast impact AI will have in the improvement of healthcare.

This year, Cathay Innovation co-hosted a private event with Orrick and Horizon Technology Finance, underscoring our brand’s strength in the US, the strength of our network, and the value we bring to our LPs, founders, and the broader ecosystem. Held at the famous modern San Francisco Museum of Modern Art with around 500 guests across the Healthcare industry, our event kicked off the 42nd annual JPM Healthcare Conference.

The event brought a great slice of the JPM conference community together, resulting in engaging conversations throughout the night. Denis delivered opening remarks in the name of Cathay Innovation, along with our Limited Partner, Sanofi, represented by Jared Josleyn, Global Head of Digital Healthcare General Medicines. Jared and Denis shared their enthusiasm for the collaboration between Sanofi and Cathay and as well as our joint global ecosystem efforts. Some of our portfolio companies with strong value propositions in the healthcare industry, like Nabla, Owkin, Inato, and Skan joined us too. We had the opportunity to connect them with various stakeholders in the room: corporates like Kaiser Permanente, Mayo Clinic, Mitsui and venture capital firms like B Capital, Polaris Partners, Jazz Venture Partners, Norwest, GSR Ventures, DCVC, Montage Ventures, and Forty51 Ventures.

We also attended remarkable events hosted by corporate partners, portfolio companies, investors, and startups. It was great to see the city of San Francisco full of life, with venues packed from wall to wall. We also saw strong announcements for the life sciences industry and optimism overall for what’s to come in 2024.

Key Takeaways From the Week

“JPM showcased so many exciting developments, including the use of AI for drug discovery to make drug development happen at a faster pace and intensive investments by providers to expand outpatient networks to provide cheaper, more convenient care. And, with profitability top-of-mind for both healthcare companies and investors, investors have their eyes on companies that will be able to deliver both growth and profitability.”Alexandre Lebrun, Co-founder and CEO of Nabla, a clinician copilot which improves patient care by automatically generating clinical notes, taking the burden away from healthcare professionals that recently raised $24M in a financing led by Cathay Innovation.

During the week, we had some great conversations and got great insights on what is next in healthcare. Here are some takeaways from the event and our at the JPM Conference.

​​AI is a key strategy for the healthcare ecosystem.

Healthcare innovators are energized to build startups around AI technology, including applying AI to digital front doors, administrative tools, and drug discovery and development. While we’re still in the early days and there’s still valid skepticism about the use cases, ideas are flowing. We see examples of these collaborations through Mayo Clinic’s partnership with Cerebras Systems to develop large-scale AI models, Alphabet’s Isomorphic Labs partnering with pharmaceutical companies on research collaborations, and Sanofi’s commitment to becoming an AI-powered biopharma company at scale.

GLP-1s are changing the game.

Cardiometabolic health was at the core of JPM discussions, with conversations during the conference surrounding increased demand, investments in the next generation of weight-loss therapeutics, and going above and beyond GLP-1s to tackle cardiometabolic diseases.

Value-based care contracts are on the rise.

Progress is being made in expanding value-based care contracts from primary care to specialty and beyond.

The conference continues to be a gathering place for healthcare leaders and innovators across the country. For our team, it was an amazing week of meeting with innovative companies, reconnecting with our close partners, and celebrating with the greater community.

In Closing

Thank you to our co-sponsors, Orrick and Horizon Technology Finance, all our guests, and our colleagues from Paris and Cathay Capital NY, who joined us. And thanks to everyone who contributed to making this event a great success. We look forward to seeing you all at the JP Morgan event next year!

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Cathay Innovation

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