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European Health and Life Sciences Symposium 2023 | What did we learn?
In November, McDermott Will & Emery was pleased to host the annual European Health and Life Sciences Symposium in Paris. A program of insightful panel discussions on a range of topics will be held featuring a number of medical experts, investors and deal makers, providing a great opportunity for market participants to get their views on where investment will be concentrated in the year ahead. It was an opportunity.
Although 2023 was a difficult year for many in the industry, there was an overwhelmingly positive mood as we entered the new year. Although some volatility remains, transactions are likely to surge in 2024, with increased activity centered on assets related to manufacturing capacity as new drug approvals require additional production capacity. There was general agreement that this was highly possible.
Thoroughly
Many of the deals completed in 2022 were focused on manufacturing, but that activity has slowed over the past year, creating some backlog on both the demand and supply sides. At the same time, a strong pipeline of new advanced therapeutics undergoing approval is driving demand for manufacturing capacity and highlighting opportunities for pan-European integration.
From a geographical perspective, many participants spoke of the continuing opportunities for the integration of health services across Europe, particularly in areas such as clinical care, radiology, dental practice and veterinary surgery. Several observers said these opportunities were evident across the DACH region, while others said they expected more cross-border deals in the medical technology space as U.S. companies look to acquire European assets. There was also
There are also signs of opportunity for beleaguered investors. Grégoire Andreu, partner at McDermott Will & Emery in Paris, said: There are situations where you have a great company with high value and excellent intellectual property assets, but market conditions are causing a hardship in your immediate funding needs. Investors with deep insight into this sector will be able to seize the opportunity to add some of these assets to their portfolios. ”
Elsewhere, some investors are focusing on new delivery models, such as prioritizing value-based care that has the potential to create efficiencies through the use of technology and data analytics. Currently, he has two bottlenecks that are hindering his progress on this score. It’s the availability of good standardized data sets. Panelists also said they will ensure health authorities have the human resources to evaluate new models and provide services.
Advances in data, AI, and medical IT
Despite the challenges, the year ahead will undoubtedly see investors focus more on the need to improve the efficiency of assets and systems, supported by innovation. These include digital health startups, innovative care delivery models, and businesses that harness the power of big data or employ cutting-edge AI algorithms.
Technology integration is becoming increasingly important when evaluating investment opportunities in healthcare. Holger Ebersberger, partner at McDermott in Munich, said: These broadly fall into three categories. For example, applications where digital improves the way clinic processes and operations are planned. Where data is used to speed diagnosis. The second is digital therapy, where digital is an important component of treatments such as mental health. While the latter is still evolving, clinical processes are already seeing digital adoption. However, in all of these situations, the key is technology integration. ”
“Technology moves at the speed of trust,” one of the speakers said, noting that adoption could be slow in the healthcare and life sciences industry due to significant patient safety concerns. In the era of personalized medicine and the increased adoption and integration of technology into drug discovery, diagnostics, and therapeutics, valuations and costs of capital remain challenging, so investors need to think carefully about risk mitigation.
Looking more closely at current trends in digital health, several themes emerge. Anne-France Moreau, partner at McDermott in Paris, said: However, our speakers said there is still a lot of ingenuity to be seen in the digital health space, centered around AI, data analytics, and tools to improve patient care. ”
Furthermore, she added: “Perhaps the biggest trend for our panelists was around pharmatech with personalized medicine, including diagnostics, genomics, drug discovery, and therapeutic tools. A lot of companies are seizing opportunities there.”
One of the biggest challenges with the implementation of new technologies in the healthcare sector relates to regulatory oversight, especially related to the development and deployment of AI.
“We’re thrilled to be able to continue to support our clients,” said Daniel Gottlieb, a partner at McDermott in Chicago. “Everyone is very focused on the risk of privacy violations associated with artificial intelligence solutions, which is important when applied to digital health solutions.” Another key concern is the development of AI tools and Biases and discrimination in the way they are deployed, which can put companies at risk of inaccurate and discriminatory results. ”
He further added: “Of course, patient safety always comes first in health and life sciences. Unfortunately, there is still no universal approach to AI governance. We have seen AI legislation passed in the EU; This focuses on risk assessment and reflects the acceptance of a common set of guidelines. We are awaiting US regulation, which is likely to be done at the US state level, and the EU Many of the principles reflected in the AI Act are likely to be reflected.”
It is hoped that the regulatory landscape will become clearer over the next year, opening the door to further adoption of AI tools in a safe and compliant manner, allowing the industry to reap many benefits.
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