Tariffs, the push to reshore manufacturing, IPOs (or lack of them), federal funding (or the threat of losing it) and a whole bunch of rules and regulations that seemingly change by the day — or on a whim.
The 15th annual BioPartnering Conference by BioNJ at Liberty Science Center Tuesday —one that brings approximately 600 industry leaders, founders, investors and service providers — certainly took place in the midst of change and potential change in the not-appreciated-enough life sciences industry.
But that’s OK, said BioNJ CEO Debbie Hart. And it’s certainly nothing new in a sector that is used to wild rides.
“We’ve seen this movie before — although maybe not as dramatic as this one,” she said. “But this is a resilient industry. We’ll come back stronger than before because of our powerful ecosystem.”
That ecosystem certainly was on display in Jersey City.
Ninety-three companies, seeking investors and collaborators, gave presentations open to all — a record number for the event. Individual meetings between founders and executives — most in private but others during the unique walk-up meeting portion of the event took place, too.
The event drew people from 16 states and seven countries — with organizations from Canada and Israel bringing large contingents of companies.
Hart, who helped conceive this conference of collaboration for this very reason, was thrilled.
“I don’t think there’s ever been a more important time to come together and to meet potential investors and meet potential collaborators partners, because there’s not a lot of investment going on right now,” she said.
“We heard some encouraging news this morning — and that’s great. But so much of our ecosystem starts with one-on-one conversations, some that will continue tomorrow or next month or throughout the year.
“We do more than 60 programs a year for this very reason.”
Hart isn’t the only believer. Far from it.
J.P. Morgan Chase has long been a sponsor and supporter of the event.
Kathleen Addison, executive director, life sciences, at J.P. Morgan, said the event has proven its value in multiples for many years.
“The BioNJ partnering conference consistently provides a unique platform for life science, health care and tech companies, and it offers them an opportunity to engage with investors, very importantly, strategic partners and industry experts,” she said.
Especially this year.
“This conference this year holds a particular significance given all the changes that are going on,” she said.
Addison noted the word “uncertainty” has permeated all industry conversations and discussions and decisions.
“We hope uncertainty proves to be transitory, another word we heard of the last couple of years, which will allow our government and investors and management teams to advance with clarity,” she said.
Suzanne Filippi, a partner at Morgan Lewis, another longtime supporter, agreed.
“In this industry, we are constantly experiencing change, innovation, technology strategies and macro conditions,” she said.
Change, Filippi said, comes with need — and a need for patience.
“I think it’s really important that we gather together to exchange ideas, innovate, collaborate, learn and support each other in this constantly evolving industry,” she said.
Hart and BioNJ are leading in that role. She reminded attendees of Bio’s partnership with the Tech Council Ventures, which is looking for companies to invest in, and the researhwithnj.com database — the state’s first research asset database, a free online platform funded by the New Jersey Commission on Science, Innovation and Technology that aims to help businesses and entrepreneurs throughout New Jersey and beyond collaborate with folks around the world.
That’s the hope of the conference, which had its in-person moment Tuesday but continues online all week.
“The energy is high, the ideas are bold, the possibilities for growth and collaboration are endless,” Hart said. “At its core, the bio partnering conference is about expanding our ecosystem and building meaningful partnerships that drive medical innovation forward in the face of shifting policies, reduced NIH funding and a rapidly changing landscape.”
The landscape does include some manufacturing returning to the U.S.
“It’s not right for everyone, but years ago it seemed the door was shut, and it was never going to happen – that’s no longer the case,” she said.
Through all of this, Hart feels one thing will never change: The need for innovation in the life science space.
“For all those who are proposing and making policy, at some point they or their parents are going to have an issue – they are going to be patients,” she said. “When you look at the big picture, the reality is that we all need the therapies and cures that our companies are developing.
“Let’s give them all the best possible chance.”
