How to Prepare for a Successful JPM Conference

Cooley partners Barbara Borden, Charity Williams, Rich Segal and Courtney Thorne sat down together on November 29, 2023, to discuss how to prepare for attending the JPM Healthcare Conference 2024 in San Francisco.

The group discussed current trends in the life sciences industry – including the choppy state of the M&A market globally and continued reverse merger activity, the increase in artificial intelligence discovery platform deals and the buyers’ market, macroeconomic challenges in the capital markets space, and the potential increase in initial public offerings next year.

Below are some tips for maximizing your time at the conference:

• Polish your nonconfidential deck. Make sure it is up to date and accurate, with updated anticipated milestones. Review it with your board and advisers, in addition to management. Consider getting nondisclosure agreements in place as well.

• Keep your elevator pitch to 15 minutes or fewer. Clearly articulate what differentiates you from your peers, and keep your message succinct. Highlight what is new with your story/platform.

• Keep in mind Regulation FD. Public companies will want to review with securities counsel any new material nonpublic information being shared, such as preliminary year-end cash, new milestones, clinical data, and whether the new corporate deck or information needs to be filed with the Securities and Exchange Commission prior to meetings.

• Come to meetings prepared. Review recently announced transactions of the companies you’re meeting with. Understand where they have been focusing, what their M&A strategy is and what role the people attending the meeting play in the organization. Utilize financial advisers to gain intel in advance of meetings.

• Keep notes on your meetings and not just what was said. You can tell a lot from who attended versus who was invited – along with insights from body language – in addition to topics covered during the meetings.

• Don’t discuss value. From an M&A perspective, avoid discussing value on the sell side unless you have already confirmed an appropriate valuation range with your board. Don’t get ahead of yourself in terms of deal structure or terms until you have spoken with your advisers.

• Keep the current antitrust environment top of mind. Have some healthy skepticism about your counterparts’ reasons for the meeting, and be thoughtful about the information you share. Consider asking about competitive programs to get a sense of what antitrust hurdles you might need to overcome.

• Rely on your internal networks. Ask board members and investors to help you make connections. Lean into those who are already backing your company.

• Attend what you’re invited to. External events and receptions are great ways to have conversations with those you may not have time to set a formal meeting with. In-person meetings can be invaluable as you build relationships.

• Don’t forget to follow up after the week is over with the information you promised to share.

Watch the full conversation on demand

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