The J.P. Morgan Healthcare Conference, a yearly temperature taker for the biotechnology industry, had a different feel in 2024.
For the first time in awhile, young drugmakers and their backers were optimistic the sector’s downturn might finally be over. An improving macroeconomic picture, combined with a recent run of dealmaking, has led many to hope investors may again see biotech as a worthy bet.
“This event is always the canary in the coal mine for the year,” said Andreesen Horowitz general partner Jorge Conde. “This year, we have a happy canary.”
