2023 couldn’t end fast enough for most of us in biopharma; its been a tough year in the capital markets, and the industry is facing it’s fair share of headwinds. Fortunately, despite all that, great science and medicine continues to advance.
This month we held our 2023 Annual General Meeting for our fund’s investors and our Atlas Venture Retreat with industry executives. As in the past, we’ve kicked off each of these meetings with our Year In Review.
This year we start with a deep dive into the biomedical innovation across our industry – “putting the Big back into Big Pharma” with obesity and Alzheimer’s, and the state of play across other disease areas, industry R&D productivity, and the risks facing the sector. We then shift to the venture ecosystem and the broader capital markets, highlighting the parallels with twenty years ago, post the genomics bubble in 2002-2003. As usual, we close with a brief update on Atlas itself.
We’ve shared this “state of the industry” talk in past years (2022, 2021, 2020, 2019, 2018), and with this blog post are doing it again this year. As I’ve noted before, listening at 1.25x+ speed is definitely recommended, and moves through the 50-minute presentation slightly faster.
Here’s this year’s link: Atlas Venture 2023 Year In Review
Special thanks again this year to my Atlas colleagues Aimee Raleigh and Kristen Margeson, who were instrumental in helping me pull it together, and to Edward Goin, our brilliant graphic designer.
I’d also like to thank all of our friends in the industry who helped provide data supporting this talk, including BMO, Colliers, Correlation Ventures, Cowen, Evercore, Goldman Sachs, IQVIA, Jefferies, Leerink, McKinsey, Morgan Stanley, Pitchbook, Radford, Raymond James, SVB, Torreya, and others (in alphabetical order).