During the 2024 J.P. Morgan Healthcare Conference, our esteemed colleagues in the life sciences sector, Suzanne Filippi and Laurie Burlingame, engaged in a dialogue with female leaders within the industry. The discussion encompassed strategies for securing funding, the impact of trends on the life sciences market, and guidance for women seeking career progression in this field.
The panel discussion, facilitated by ML Women, featured contributions from Dr. Stephanie Oestreich, managing director of the Myeloma Investment Fund, and Dr. Sheila DeWitt, a prominent figure in the life sciences executive and entrepreneurial spheres.
On the topic of securing financing, Stephanie Oestreich outlined the array of opportunities available, including collaborations with organizations such as the Cystic Fibrosis Foundation and the American Cancer Society. Moreover, she underscored the support provided by funds like the Myeloma Investment Fund (MIF), which offers not only financial assistance but also invaluable knowledge and resources for startup ventures. Sheila DeWitt accentuated the importance of exploring diverse funding avenues and drew from her own experiences of securing financing through methods such as angel investors, promissory notes, grants, loans, and M&A transactions.
In discussing trends impacting the market, Stephanie Oestreich delved into the implications of interest rates, IPO activity, partnering and M&A, as well as advancements in the regulatory landscape and the integration of AI within the life sciences sector. Dr. DeWitt shed light on the pressures exerted on drug pricing and market exclusivity, alongside the influence of policies such as the Inflation Reduction Act and the measures implemented by the FTC to prevent delays in generic competition.
When questioned about advice for women seeking to advance their careers in the life sciences realm, Dr. Stephanie Oestreich underscored the significance of utilizing all available resources and being thoroughly prepared for interactions with investors. Sheila DeWitt encouraged women to proactively nurture their networks, engage with mentors, and broaden their comprehension of the business facets of their companies, extending beyond their scientific expertise.
In conclusion, the invaluable guidance provided by Dr. Stephanie Oestreich and Dr. Sheila DeWitt holds significant merit for women in the life sciences industry. Their counsel on securing funding, staying abreast of industry trends, and seeking avenues for career progression can effectively serve as a blueprint for aspiring female professionals within this domain.
In summary, the wealth of knowledge and expertise brought forth by these distinguished female leaders offers invaluable resources for individuals navigating the intricate landscape of the life sciences industry. Their pragmatic advice and strategic insights serve as indispensable tools for those seeking to flourish within this competitive and dynamic sector.
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