The Mid-Atlantic Bio Angels (MABA) Summit panel on “Evaluating AI in Pharma and Biotech: Hype vs. Reality” took place on October 15, 2024, at the Wilson Sonsini office in Manhattan. This insightful session explored how AI is transforming life sciences, equipping investors with tools to identify impactful innovation while avoiding overhyped solutions. Moderated by Alex Pederson, the panel featured Eric Schultz (Ocean Genomics), Josh Gaffey (Pfizer), and Saber Meamardoost (Regeneron), who provided invaluable insights into AI’s potential in the industry.

Lessons Learned

  • Collaborative Opportunities, Not Just Acquisitions: Pharma companies see partnerships with AI-driven firms as more beneficial than acquisitions. These collaborations leverage startups’ expertise and agility while integrating their solutions into existing systems.
  • Ask the Right Questions: To identify meaningful innovation, investors should ask how AI improves processes, the types of data used, scalability, and performance validation. Focused questions reveal whether companies understand and can deliver on their claims.
  • Demand Clarity on Specific Outcomes: AI-supported companies must articulate what they improve (e.g., speed, precision, cost), how they do it, and the magnitude of the benefit. Providing metrics like timeline reductions or enhanced accuracy allows investors to assess tangible value.
  • Avoid Unsupported Claims: Startups must substantiate their efficacy with validated data, use cases, or regulatory milestones. Transparency about limitations also builds trust. Investors should be wary of companies that cannot provide concrete evidence for their claims.
  • Focus on Ecosystem Fit Over Disruption: AI solutions must support pharma’s complex and highly regulated processes. Disruption should address inefficiencies without compromising safety or compliance. Solutions that integrate seamlessly into the ecosystem are more likely to gain traction and deliver sustainable value.

 Panel and Audience Highlights

  • Eric Schultz (Ocean Genomics): Showcased how AI harnesses multi-modal data for precision medicine and highlighted red flags to identify overhyped solutions.
  • Josh Gaffey (Pfizer): Shared insights into scalable AI solutions for digital transformation and emphasized the value of strategic partnerships.
  • Saber Meamardoost (Regeneron): Explained how structured data and AI transform R&D pipelines while ensuring regulatory and clinical success.

The audience engaged actively with questions about AI’s role in liability, competitive advantage, and sustainability. Breakout sessions encouraged collaboration and generated actionable strategies for evaluating AI opportunities in biotech and pharma investments.

Held in the heart of Manhattan, this event celebrated AI’s transformative potential while equipping attendees with a roadmap to navigate the life sciences AI landscape effectively. The panelists’ expertise and the audience’s participation made this a standout session at the MABA Summit.