As we gear up for the 2026 J.P. Morgan Healthcare Conference (JPM) kicking off next week in San Francisco, the buzz is already building. Last year, we saw respectable M&A deals, AI’s operational pivot, and policy ripples from the Trump administration, whose ongoing healthcare and regulatory priorities continue to influence the sector. This time around, with AI maturing, dealmaking accelerating, and fresh tech horizons emerging, the stakes feel even higher.
At HDMZ, we’ve been deep in conversations with clients, investors, and thought leaders across the life sciences. What keeps coming up? A handful of burning questions that everyone from boardrooms to labs is trying to answer. Here’s a preview of what we’ll be watching closely, along with our take on where things might land.
Will AI finally deliver on its promise?
Remember the AI hype cycle from a few years back? We’re past the peak of inflated expectations. However, 2026 looks like the year AI shifts from flashy demos to real-world impact (I recently wrote about the state of AI for drug discovery here). With investments tempering slightly, the focus is turning to data readiness and integration. How do we overcome data silos and scarcity to make AI a true accelerator?
We expect JPM 2026 to spotlight hybrid models blending AI with robotics for in silico testing, as well as emphasize the need for AI platforms to demonstrate tangible value in clinical development. Still, challenges, such as regulatory hurdles and ethical data use, will loom large. Look for panels pushing for clearer U.S. Food and Drug Administration (FDA) guidelines.
Is 2026 the year M&A and IPOs accelerate in biotech?
Patent cliffs are looming (think Merck’s Keytruda in 2028), and big pharma’s pipelines need bolstering. After a Q4 surge in 2025, analysts are forecasting a respectable dealmaking environment in 2026. But with valuations resetting and economic uncertainty lingering, will we see bold moves or cautious plays?
JPM has a track record of significant deal announcements (recall Johnson & Johnson’s $14.6 billion grab of Intra-Cellular Therapies last year). We anticipate similar action at JPM next week, especially in oncology, neurology, and metabolic diseases, in which smaller biotechs offer quick wins. If the trend holds, M&A activity could accelerate in 2026, which will be largely driven by a need for innovation amid slowing IPOs.
Speaking of IPOs, although the IPO market has struggled compared to previous years, the recent uptick in M&As and non-IPO financing signals a potential increase in IPO activity moving forward. At JPM, we anticipate more optimistic IPO messaging throughout the conference.
What's next for CRISPR “N-of-1” therapies?
CRISPR had a tough go during the first half of 2025 (I covered this topic here). However, the gene editing technology once again grabbed headlines with its maturation and the wildly popular Baby KJ “N-of-1” therapy story. But what’s next on the horizon?
We’re eyeing an acceleration of N-of-1 CRISPR therapies in 2026 due to increased collaboration between industry and the FDA, with the agency announcing its commitment to tackling ultra-rare genetic diseases through novel regulatory frameworks. With this exciting backdrop in mind, we look forward to receiving additional updates during the conference.
How will policy shifts under the current administration reshape the industry?
With Robert F. Kennedy Jr. heading the Department of Health and Human Services and ongoing reforms, such as prior authorization overhauls (covering 80% of U.S. patients), biotech’s regulatory landscape is in flux. Will we see accelerated approvals for innovative therapies, or more scrutiny on vaccines and certain chronic disease research programs? JPM’s policy tracks will likely dive into this, with possible calls for increased collaboration between industry and government.
How will U.S. biotech navigate China’s unrelenting rise?
The threat posed by China’s biotech industry was a major topic at JPM 2025. Since then, the country has shown no signs of slowing down. In fact, China has increased its share of global drug development, now running approximately 40% of all oncology trials. So how does the U.S. biotech ecosystem respond? Expect JPM debates on globalization versus protectionism, which is sure to bring a variety of opinions.
Closing Thoughts
JPM 2026 promises to be a pivotal event for the biotech industry. At HDMZ, we’re excited to be in the thick of it, helping our clients navigate these shifts through strategic communications that amplify their innovations. Stay tuned, as we’ll be sharing insights as they unfold.
See everyone at JPM 2026!
