Episode summary
The Next Biotech Breakthrough | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 8 min · Hosts: Carol Massar, Tim Stenovec · Guests: Jenny Rooke
Summary
The conversation centered on the biotech investing climate after the JPMorgan Healthcare Conference, with Jenny Rooke saying the mood was “cautiously optimistic” and that this year felt more energetic than last year. She pointed to heavy attendance, stronger engagement, and growing excitement around the real impact of AI on health and science, alongside shifts in public and private funding for healthcare innovation. The host framed the discussion around whether early-stage biotech is still producing enough opportunities, especially as federal support for academic research becomes less certain.
Key takeaways
- Jenny Rooke said the JPMorgan Biotech conference felt more crowded and energetic this year, which she read as a sign of improving sentiment.
- Rooke said AI is speeding up the research flywheel by helping scientists get data back into their thinking faster and collaborate more effectively.
- Rooke argued that funding uncertainty can create new early-stage opportunities, especially when researchers start considering commercialization.
- Rooke cautioned that AI may accelerate discovery, but drug development still requires many years and hundreds of millions of dollars to reach market.
Notable quotes
“the headline that I kept hearing in conversations around here was cautiously optimistic”
“There were more people here actually this year than last year generally speaking”
“there's so much we're still learning about basic science and how to use it”
“That flywheel is spinning faster with the assistance of of AI and other kinds of connectivity and collaboration”
“many hundreds of millions of dollars journey to bring a a drug properly through clinical development”
How the episode opens
Bloomberg Audio Studios podcasts, radio, news. This is Bloomberg Business Week with Carol Masser and Tim Stenc on Bloomberg Radio.
Carol, this story crossing by Rachel Mets just about 100 p.m. this afternoon. This is pretty cool.
Open AAI is releasing a free tool. It's aimed at making it easier for scientists to use Chat GPT to draft research papers and collaborate with colleagues. It's part of a larger effort to position its chatbot as an aid for scientific work and discoveries.
Okay. It's called Prism. OpenAI is rolling it out today.
It uses the company's GPT 5.2 AI model to carry out tasks related to writing and revising academic work. A scientist, for example, might ask it to help improve the way a paper is written and find related papers to site in their work or generate a computerized version of a handwritten diagram.
Just be careful not to copy somebody else's work. I was just going to say you will be not good. Citations are important. — I think the um uh administration ran into some issues with using AI to come out with uh some guidelines um in recent months and uh it was found that it cited papers that don't actually exist.
Yeah, it's it's it's super interesting. I think we're finding our way, but I do agree and I think there's momentum of AI in general, what it couldn't do maybe for the health care space, for the science space. Um, we have a great voice on this.
We love touching base with her. Uh, Jenny Rook, um, founder and managing director of Genoa Ventures. It's a VC firm.
It invests in it invests in having a t I'm having a tough time on this Tuesday. I blame the snow and maybe being a little off.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- biotech innovation
- venture capital
- precision medicine
- genetic tools
- jpmorgan healthcare conference
Companies and tickers mentioned
- Fidelity Biosciences
Watch the episode
Watch “The Next Biotech Breakthrough | Bloomberg Businessweek” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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