Like every year, 2024 began with a bang for the biotech industry, with hundreds attending the J.P. Morgan Health Conference (JPM) in San Francisco last week. JPM, one of the world’s largest healthcare conventions, reviews the highlights and lowlights of the previous year and sets the stage for what’s to come.
There was a lot of interest in central nervous system (CNS) problems, with biotechs like Neurocrine Biosciences, Intra-Cellular Therapies, Anavex, and Voyager Therapeutics exhibiting at the event.
Olivia Cavlan, Alchemab’s chief corporate development and strategy officer, described the sector as a “really hot area,” especially in terms of rare neurological diseases. The U.S. Food and Drug Administration (FDA) can speak to the increased interest in rare disease therapies. More than half of the medications approved last year were designated as orphan pharmaceuticals by the FDA to treat rare illnesses.
Regarding CNS, Paul Little, CEO of clinical biotech Vesper Bio ApS, stated, “CNS is in vogue, and it is not just about new modalities.” According to an assessment of 2023, psychiatric indications accounted for around 60% of the upfront contract value. Companies are waiting for Pharma to open their checkbooks.”
Leqembi for the treatment of Alzheimer’s disease was one of the most notable FDA approvals in the area last year, paving the way for future industry wins.
