JP Morgan 2024 From the Boardroom

From the Boardroom:

Dealmaking with Artificial Intelligence & Big Data –

Charting the New Frontier in Life Sciences January 7, 2024, 3:30pm St. Regis, San Francisco

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From the Boardroom:

Dealmaking with Artificial Intelligence & Big Data – Charting the New Frontier in Life Sciences

Life sciences companies are increasingly leveraging artificial intelligence (AI), machine learning (ML) and data assets in M&A, licensing and partnering deals, which is reshaping how the industry is approaching drug discovery, clinical trials, diagnostics and more.

Our panel of industry experts will explore the current landscape of AI/ML-focused deals and the unique considerations that dealmakers face, such as data and regulatory issues associated with AI technologies.

They will also cover AI/ML applications currently in the market, and future opportunities and challenges that lie ahead.

Our From the Boardroom panels typically run 70 minutes in length, ending with an open Q&A session with the audience. We invite you to join us for a networking cocktail hour immediately following the program.

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Panelists Molly Gibson, Ph.D. Origination Partner, Flagship Pioneering Co-Founder & Chief Innovation Officer, Generate:Biomedicines Molly is an Origination Partner at Flagship Pioneering, working as part of a venturecreation team to found and grow companies at the intersection of biology and machine learning. Molly serves as co-founder & chief strategy and chief innovation officer of Generate:Biomedicines, a Flagship Pioneering company, where she has served many roles, from R&D to corporate strategy, platform and data strategy, and launching an innovation group called G:Labs that explores novel applications of The Generate Platform. Through her role in Flagship Labs, Molly has contributed to the launch and growth of Tessera Therapeutics and Cobalt Biomedicines, which was merged into Sana Biotechnology.

Molly’s work has resulted in multiple pending patents and publications, including articles in Science and Nature. Molly was honored in 2020 in Endpoints News’ 20 under 40 list in biopharma, and in 2021 in Business Insiders’ list of 12 young serial entrepreneurs building the next generation of biotech startups.

Molly received a Ph.D. in computational and systems biology from Washington University in St. Louis in the Center for Genome Sciences, with the support of a National Science Foundation Graduate Research Fellowship. At Washington University, Molly collaborated with St. Louis Children’s Hospital to study the effects of early life interventions on development of the preterm infant gut microbiome and health outcomes.

Alec Nielsen, Ph.D. Co-founder & CEO Asimov Alec Nielsen is a Co-founder and CEO of Asimov, a Boston-based bioengineering company building a platform to design living cells. The company has raised over $200 million to develop biology and software tools that accelerate next-generation therapeutic development. Alec holds a Ph.D. from MIT Biological Engineering and a Bachelors in Bioengineering and Electrical Engineering from the University of Washington.

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Kristin Stenerson Principal, Healthcare & Life Sciences Sixth Street Kristin Stenerson leads Healthcare Data investing at Sixth Street. She is focused on providing creative equity and structured capital solutions at scale to companies that generate, provide infrastructure for, or use data to lower cost and improve care and outcomes in healthcare and life sciences. Key investments in the Healthcare Data theme include Datavant, ConcertAI and Caris Life Sciences. Previously she held positions at Goldman Sachs, the Brattle Group, and Deloitte. Kristin holds an MBA from the Wharton School of the University of Pennsylvania and a B.A. from Hamilton College.

Lesley Stolz, Ph.D. Regional Vice President Early Innovation Partnering Johnson & Johnson Innovation Lesley is Regional Vice President, Early Innovation Partnering at Johnson & Johnson Innovation, California. In this role, she leads identification, incubation, due diligence, negotiation, execution and onboarding for high-impact partnerships and collaborations in external innovation. Lesley also oversees the region’s partnership portfolio and is responsible for a wide range of dealmaking solutions, including research collaborations, licensing options, venture investments, new company formations and incubation to establish value-creating partnerships with promising early-stage innovators.

Previously, Lesley served as Head of JLABS @ SSF where she managed lab and business operations for the Johnson & Johnson Innovation incubator site. Most recently, Lesley was Managing Director at Lasana Partners, where she successfully facilitated multiple partnerships. Before Lasana, Lesley was the Chief Business Officer of Annexon BioSciences. Lesley serves on the Board of California Life Sciences (CLS) and is a passionate contributor to this region’s commitment to diversity, equity and inclusion in the life sciences industry.

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Panelist Shafique Virani, M.D. Chief Corporate Development Officer Recursion Shafique Virani, M.D., has served as Recursion’s Chief Corporate Development Officer since March 2020. He also served as interim Chief Medical Officer from June 2022 to June 2023. Prior to joining Recursion, he was Chief Executive Officer of Navire Pharma and CoA Therapeutics (each a subsidiary of BridgeBio Pharma, Inc.) from September 2017 to December 2019 and June 2018 to December 2019, respectively. He also served as Chief Executive Officer in Residence of BioBridge LLC from June 2017 to December 2019.

Prior to BridgeBio, he assumed a 13-year long tenure at Genentech/Roche from January 2004 to June 2017 as Vice President and Global Head of Neuroscience, ophthalmology and rare disease partnering, where he helped build a portfolio of medicines, including Risdiplam for spinal muscular atrophy, Enspryng for neuromyelitis optica spectrum disorder and several therapeutics in the mid-late stage clinical pipeline via licensing and acquisitions. Dr. Virani trained as a neurosurgeon in Cambridge, UK and Boston and received his M.D. from the University of Nottingham.

Moderator Megan Baca Partner, Co-Head of Intellectual Property Transactions Group, Co-Head of Digital Health Initiative and Managing Partner of Silicon Valley office Ropes & Gray Megan’s practice sits at the intersection of life sciences and technology, with a focus on innovative digital health transactions. Megan advises life sciences and technology companies in strategic transactions, including collaborations, licenses, joint ventures, investments and acquisitions. With a background in computer science, Megan has unique expertise in transactions involving novel technologies, including artificial intelligence, machine learning, computer vision and data analytics. Megan also regularly counsels investors on complex IP matters relating to mergers and acquisitions and carve-out transactions, including IP structuring and strategy decisions.

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Ropes & Gray

Global Healthcare & Life Sciences Ropes & Gray’s healthcare and life sciences industry group serves the legal and business needs of the world’s leading industry participants.

Representing clients across all sub-sectors, our internationally recognized team counsels pharma, biotech and medical device companies; digital health enterprises and technology companies expanding into the industry; major hospital systems, academic medical centers, and healthcare service providers; and hundreds of investors, including private equity, asset management, venture capital, and investment banking firms. Drawing on resources in our offices around the globe, which include regulatory specialists in Europe and Asia, we focus on developing cutting-edge solutions to help clients meet their business goals.

Where We Excel For Our Clients Mergers & Acquisitions Our life sciences and healthcare M&A team has represented clients in many large, high-profile mergers and acquisitions. Unique to our team is our ability to handle an entire transaction under one roof, calling upon experts in our IP, healthcare and FDA regulatory, antitrust, labor and employment, litigation, and tax groups to conduct due diligence and provide advice on various issues that arise during transactions.

Licensing, Collaborations & Joint Ventures We represent life sciences and healthcare companies in structuring and negotiating commercial agreements involving licensing, comarketing, co-promotion, distribution and other arrangements.

Capital Markets We have extensive experience representing life sciences and healthcare corporate issuers, major investment banks, and leading private equity firms in all aspects of capital markets financings.

Private Equity We have one of the leading, and most robust, private equity practices in the world. Together with our globally renowned life sciences and healthcare team, we are uniquely positioned to help private equity investors thrive in the many types of industry deals and investments taking place around the world.

Venture Capital & Emerging Companies We advise life sciences and healthcare venture capital investors throughout the lifecycle of their investments. From negotiating and closing seed financings to assisting growth stage investors in developing successful portfolio companies and structures, we have the experience to support clients from the time of initial investment through their ultimate exit. We are proud to be alongside emerging growth companies through all phases of their lifecycles.

Business Restructuring Our business restructuring team provides life sciences and healthcare clients with creative strategies and practical solutions for addressing the challenges of financial distress and insolvency.

Privacy & Cybersecurity We help life sciences and healthcare industry clients manage issues and matters involving privacy and cybersecurity law by counseling on privacy and cybersecurity compliance as well as incident prevention and response. We also advise on the privacy and cybersecurity risks in corporate transactions and provide representation in litigation and regulatory investigations arising from cyber incidents and alleged privacy violations.

Antitrust We represent life sciences and healthcare companies before the FTC, U.S. Department of Justice and other agencies. We also advise in connection with nonpublic government investigations and represent plaintiffs and defendants in litigating cutting-edge issues.

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Ropes & Gray

Global Life Sciences & Healthcare Leadership Debbie Gersh Partner, Chicago Healthcare Regulatory & Transactions Deborah.Gersh@ropesgray.com +1 312 845 1307

Andrew O’Connor Partner, Boston Government Enforcement & White Collar Andrew.OConnor@ropesgray.com +1 617 235 4650

Marc Rubenstein Partner, Boston Life Sciences Strategic Transactions Marc.Rubenstein@ropesgray.com +1 617 951 7826

Healthcare & FDA Regulatory and Compliance As a true healthcare and life sciences firm, we have made a long-term investment in building out a global team of top healthcare and FDA regulatory subject matter experts. We know the ins and outs of regulatory risks, cross-border compliance and enforcement.

Intellectual Property Our IP professionals evaluate third-party IP and provide opinions, perform due diligence, conduct portfolio assessments, develop domestic and international patent strategies, prepare and evaluate IP-related securities disclosures, advise on licensing and collaboration transactions, and deliver litigation services to global life sciences companies.

Securities Litigation & Enforcement Our litigators have defended numerous securities fraud claims, including those related to regulatory disclosures.

False Claims Act We have long been at the forefront of False Claims Act defense. Deploying resources across practices, we effectively respond to investigations and successfully litigate actions pursued by whistleblowers or the government. We have achieved favorable resolutions of False Claims Act cases for numerous Fortune 500 companies by effectively responding to government investigations, challenging whether government intervention is warranted at all and defending companies when the government intervenes.

Government Enforcement We have a long, successful track record of partnering with life sciences and healthcare companies and other organizations on the full spectrum of internal investigations and white collar enforcement matters.

Tax Benefits and Executive Compensation Our tax and executive compensation teams provide comprehensive advice related to aspects of mergers and acquisitions and business restructurings, joint ventures, tax planning and tax controversies.

Real Estate Our real estate team has a unique understanding of our life sciences and healthcare clients’ needs around R&D and manufacturing, as well as the challenges that arise in developing, leasing, acquiring, structuring, financing, owning and operating real estate for life sciences use.

Coming Soon: 2024 Chambers Global Practice Guide Chapter on “Life Sciences U.S. Trends and Developments”

The life sciences industry experienced a turning point in 2022 after robust deal activity in the two prior years. The persistent effects of high inflation and a sluggish public market for biotech stocks carried into 2023, forcing many companies to engage in strategic and often distressed dealmaking to preserve and obtain working capital. Toward the end of 2023, however, deal activity in the life sciences industry has shown increasing signs of renewed life, with both an active middle market for M&A dealmaking and a modest uptick in IPOs and follow-on opportunities in the public equity markets for biotech companies. Barring additional headwinds, we expect this rebound to continue into 2024. This article will take a deep dive into current trends in the life sciences industry in 2023 and for the upcoming year.

If you would like to receive a copy of our article, please email HealthcareLifeSciences@ropesgray.com.

Recent Recognition Chambers USA Ranked Band 1 for “Healthcare: The Elite” Nationwide and for “Healthcare” in New York and Massachusetts

Legal 500 Recognized as a top-tier firm for “Healthcare: Service Providers” in 2023

LMG Life Sciences Awards Named “IP Transactions Firm of the Year” in 2023

American Lawyer Named “2022 Corporate Department of the Year - Health Care/Pharmaceuticals”

The Deal Named “2022 Pharma & Biotech Law Firm of the Year” and “2020 Healthcare, Pharma & Biotech Law Firm of the Year”

LMG Life Sciences Ranked Tier 1 in 2023 for Life Sciences – Transactional in Corporate; Licensing & Collaborations; and Mergers & Acquisitions in the U.S.

Law 360 Named “2021, 2020 & 2019 Healthcare Practice Group of the Year”

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Industry Insights & Resources Ropes & Gray continually provides informed perspectives on global, regional, industry-specific and practice-focused legal issues. Refer to the links below to access our current and recent insights.

Artificial Intelligence / Machine Learning: Artificial Intelligence (AI) offers the promise of rapid technological advances, accompanied by market opportunity and novel regulatory and legal challenges. Ropes & Gray’s extensive experience in digital health, intellectual property, life sciences, healthcare, and data privacy and cybersecurity positions us to offer cutting-edge advice on the most complex AI issues. Learn more Capital Insights: On this site, Ropes & Gray offers its insights into some of the most noteworthy issues and perspectives on the Biden administration. Learn more Digital Health: Ropes & Gray offers the resources of a multidisciplinary team that can advise you on the most critical areas related to operating in the digital health market. Our broad capabilities combined with our deep expertise enables us to advise digital health companies in all aspects of their business. Learn more

Healthcare Transactions: As the healthcare industry becomes more integrated and competitive, institutions need to maximize the efficiency and delivery of their services. Our dedicated healthcare team advises clients throughout the industry on all types of transactions, including mergers & acquisitions, affiliations, joint ventures and other transactions to achieve the strategic goals of our clients. Learn more State Regulations for Healthcare Transactions: States are adopting new laws applicable to competition, quality, access and cost that apply to a broad array of healthcare transactions. Learn how to navigate this shifting regulatory landscape with our dedicated resource page on navigating emerging state regulation of healthcare.

Learn more United in the Fight Against Cancer: We are partnering with our clients to bring novel therapies to market, finance breakthroughs, advance cancer detection, enhance patient outcomes and deliver access to high-quality care. Learn more about our work, our public service and our support of our own in the fight against cancer. Learn more

Drug Pricing & Price Reporting: Drawing on deep knowledge of all areas of drug pricing regulation, Ropes & Gray’s multidisciplinary drug pricing team provides clients with strategic advice to successfully navigate the rapidly evolving legal and business questions related to drug pricing and price reporting. Learn more

Get in Touch Ropes & Gray regularly hosts various programs and provides in-depth insights into a variety of topics facing the life sciences and healthcare industry, including corporate, regulatory, privacy, intellectual property, and litigation and enforcement issues.

If you would like to receive information about our upcoming events and thought leadership, please email HealthcareLifeSciences@ropesgray.com.

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