After several years of COVID-19-related disruption, the global life sciences market returned to full strength in 2024, with a major rise in pharmaceutical spending, plus ever more exciting technological breakthroughs in the realm of artificial intelligence (AI), medical devices and more. On a personal level, Biopôle celebrated its 20^thanniversary – a moment to acknowledge and appreciate how far the life sciences sector has come in the last two decades. Nonetheless, as ever, 2024 brought challenges to overcome alongside opportunities to seize. Here are some of the major trends that marked the life sciences in the past year and that might be worth bearing in mind as we move into 2025.

Extracting value from generative AI and emerging technologies

As outlined in a series of recent reports from Deloitte, generative AI was at the top of the agenda for nearly every organisation working in the life sciences in 2024. What’s more, as projected by Slalom, by the end of 2025, 36% of the world’s data could be generated by life sciences and the healthcare sector. In this context, generative AI is poised to revolutionise the entire life sciences value chain. According to Deloitte, ‘vast [life sciences] datasets combined with the advanced AI capabilities of tech giants offer powerful synergies for drug discovery and healthcare innovation’. Indeed, there is potential for a ‘string-of-pearls’ approach, whereby multiple generative AI use cases can be linked together to transform processes across research, development and patient care.

On this note, we spoke to Biopôle member Adam Hanina, CEO of Dandelion Science, about generative AI’s potential to advance neuroscientific treatment, drawing on early successes in other fields. As Adam pointed out: ‘Technologies pioneered by OpenAI have proven highly effective in tackling complex challenges, with ChatGPT generating realistic text and Sora creating videos from text commands. These groundbreaking tools also hold immense potential in neuroscience […]; generative AI is now being applied to create more sophisticated models of brain function, offering a deeper understanding of disease severity and classification.’

As Adam went on to explain, Dandelion Science harnesses cutting-edge generative AI that is guided by neural objectives, rather than text commands, to create complex sensory stimuli for therapeutic purposes. This approach, which Adam terms ‘Generative Neuromodulation’, enables exploration of the brain’s spatial and temporal dynamics – how neurons synchronise their activity across time and space to carry out tasks. In Adam’s words, ‘we finally have the computational power to systematically search for and deliver high-dimensional stimuli that can control neural dynamics’.

This represents just one of the exciting use cases of generative AI, which is set to add massive value across the whole sector.

Accelerating R&D (and not just through AI)

Leading on from this, AI-powered technologies, among other factors, are significantly increasing the speed of R&D, allowing new drugs and products to get to market – and therefore patients – much quicker. Indeed, thanks to AI’s ability to process and analyse data from a wide variety of sources, silos are increasingly breaking down and new opportunities for collaborations and innovations are arising. As such, factors like collaboration have emerged as a crucial component of the acceleration of R&D today.

As highlighted by Deloitte in its annual Global Life Sciences Sector Outlook, the long and expensive process of obtaining regulatory clearance remains a significant challenge for small to mid-size biotech companies, many of which are facing shorter cash runways in 2024. As a result, they may turn to collaborations and partnerships, which present a viable alternative – or even a precursor – to mergers and acquisitions. Such collaborations not only strengthen a smaller company’s financial stability but also enhance its credibility within the industry.

Mauro Oddo, Director of Innovation and Clinical Research at the Lausanne University Hospital (CHUV), shared his perspective on the importance of collaboration to further innovation, especially in the local region: ‘At the CHUV, as a large, well-established institution, we see ourselves as facilitators of scientific partnerships, creating spaces from the top down, so that bottom-up initiatives can thrive. We often meet people with great ideas, but they face obstacles to get these ideas off the ground. That’s where we come in, facilitating collaborations, providing testing spaces, and advising on funding, intellectual property, contracts, technology transfers and the like.’ As he clarified, collaborations in the Swiss Health Valley can develop very organically, thanks to the close ties between different institutions and companies within the area: ‘The CHUV is linked to the Faculty of Biology and Medicine at the University of Lausanne (UNIL), situated at Biopôle, and we also partner with the Swiss Federal Institute of Technology Lausanne (EPFL). This allows physicians and researchers to connect with each other, as well as with life sciences companies in the area. There’s a wealth of expertise in the community, to which we’re just one contributor.’

Ultimately, this renewed interest in collaboration tallies with a general trend in science, called convergence, where distinct disciplines – such as biology, technology, data science and engineering – come together to drive innovation. This trend reflects a shift from siloed research towards integrated approaches that accelerate discovery and improve patient outcomes. By merging diverse expertise, organisations can address complex challenges more holistically. Indeed, as life sciences increasingly intersect with digital technologies and forge cross-industry partnerships, convergence has become the key to unlocking next-generation solutions that were previously unattainable through isolated efforts.

Increasing price pressures across the globe

With the global population both growing and ageing, global pharma spending is on the rise: according to Deloitte, large pharmaceutical companies spent a record total of US$161 billion in 2023, representing an increase of almost 50% since 2018. However, it should be noted that this is mainly due to a shift in spending patterns towards expensive drugs, including personalised medicines.

To address this spending increase, governments across the world are implementing price controls. In the US, for example, the Inflation Reduction Act (IRA) now allows Medicare to negotiate with suppliers about drug prices. This is putting a new form of pressure on the pharma industry, potentially reducing its margins and thereby its funding for innovation. Pharma players now have to anticipate and find the right balance between affordability, innovation and patient access.

At Biopôle, we discussed these challenges with Armand de Gramont, Co-Founder and CSO of Onward Therapeutics, a company specialising in the clinical-stage development of drugs in oncology. When it comes to deciding which products to pursue, Armand asserted that he doesn’t have a crystal ball: ‘We don’t know for certain what will be successful. The rate of attrition (the percentage of drugs that fail at each stage of the development process) for oncology treatments is very high: less than 1% of the drugs in pre-clinical development make it to market. And then, only between 3% and 5% of the oncology drugs that start a Phase 1 trial will get to the market.’

As a result, for Onward Therapeutics, efficiency is of the utmost importance. In Armand’s words: ‘We want to take the best and most effective products to the clinic and show their potential benefits – and as fast as possible, without compromising quality. For reference, we were able to get a Phase I clinical trial approved for our bispecific antibody treatment within just two years, which is well below the usual expected timeline. By streamlining the money and time we spend on each product, we can fast-track its journey through manufacturing and preclinical testing, meaning it reaches prospective patients that bit sooner.’ Interestingly, the CSO pointed out that there is less interest in and fewer opportunities for expensive drugs nowadays: ‘When it comes to cell therapies, it is worth noting that they were quite popular until recently. Since then, however, investors’ interest has fallen because this type of product is very expensive and difficult to manufacture.’

Achieving better patient outcomes while reducing healthcare costs

As spending in the pharmaceutical industry rises, the cost of treatment also accordingly increases, leading to a significant financial burden on healthcare stakeholders, including providers and insurance companies. To maintain a high quality of care and ensure broad access, all while controlling costs, new solutions are urgently needed. In this context, the emerging concept of value-based healthcare (VBHC) offers promising perspectives.

Noémie Voeffray-Remacle, Head of Transformation at Groupe Mutuel, outlined the current state of play in Switzerland: ‘Today, our system is driven by quantity rather than quality. The more treatment healthcare providers churn out, the more they get paid. There’s little emphasis on assessing the quality of treatment, coordinating care or fostering a culture of prevention. VBHC is about shifting from volume to quality. Instead of being paid based on the number of procedures, healthcare providers are rewarded for delivering high-quality care.

Indeed, there are hopes that the new model will significantly reduce unnecessary interventions. Groupe Mutuel is already putting this to the test, as Noémie explained: ‘At Groupe Mutuel, we’re doing pilot projects that explore such models – initiatives that reward providers based on the value of care delivered to the patient, rather than the number of services. These models aren’t part of the healthcare system yet but we’re working hard to implement them as soon as possible. For example, we’re conducting a pilot project with Hôpital de La Tour to develop reimbursement models that incentivise providers to focus on patient outcomes – specifically for hip and knee surgery. We need to make sure it’s financially viable and test its feasibility – then our aim is to scale this model in Switzerland.’

Closing the gender health gap

Finally, the gender gap was also a major part of conversations about healthcare in 2024. An article published by representatives from each of the leading UK cardiovascular societies in August 2024 revealed that doctors treat men and women suffering with cardiovascular pain differently, with women 10% less likely than men to have their pain level assessed when they arrive at hospital and women generally waiting half an hour longer than men to be seen by a doctor. One of the co-authors of the study, Alex Gileles-Hillel, attributed the discrepancy to a longstanding and unchallenged bias, as reported by the World Economic Forum: ‘Women are viewed as exaggerating or hysterical and men are viewed as more stoic when they complain of pain.’

What’s more, as detailed in the Journal of the American Heart Association, these issues are only exacerbated for women of colour: they were found to wait even longer when presenting to emergency departments with chest pain and were less likely to be prescribed medications to manage acute coronary syndrome. Worryingly, all of this contributes to poorer healthcare outcomes for women experiencing cardiovascular disease – which is already the leading cause of death in women worldwide.

And this issue isn’t reserved to the realm of cardiovascular disease: The Washington Post recently reported that, in the United States, women experiencing a range of serious medical conditions, such as endometriosis, and/or undergoing medical procedures, from assisted childbirth to intrauterine device (IUD) insertion, were unlikely to receive appropriate pain relief and/or the correct diagnosis. Mathieu Horras, CEO and Co-Founder of Aspivix, a company that is developing gentler gynaecological tools, weighed in on this issue: ‘There’s something to be said here about women “expecting” (and being expected to endure) more pain – key examples are menstruation and childbirth, where women are told: “This is part of the female experience, you’ve just got to deal with it.” But this actually just creates unnecessary shame, where women think they must suffer in silence.’

Mathieu went on to comment on the effects of dismissive attitudes towards women’s pain, which Aspivix is trying to combat: ‘We find that people will delay having routine check-ups and/or getting IUDs fitted because they are worried about the pain – and that in turn leads to unwanted pregnancies, and even higher rates of maternal mortality. So, there are huge consequences of dismissing women’s pain.’

In order to tackle and close the gender health gap, we need to adopt a multifaceted approach. Above all, healthcare professionals should be trained to recognise and address gender biases that might lead to disparities in treatment – and sex and gender should be acknowledged as major health determinants. Incorporating this into medical curricula could promote a more comprehensive, patient-centred approach.

Final reflections

Overall, 2024 has been a year marked by the evolving interplay between social changes and technological advancements, gradually reshaping the priorities and capabilities of the life sciences industry. These developments are unfolding against a backdrop of persistent financial concerns, adding further complexity to the landscape.

Looking ahead to 2025, it is clear that there are both opportunities and challenges in the pipeline for those working in the life sciences. No matter the area, however, it appears the key to success is to embrace integrative, holistic approaches, collaborating closely with colleagues across different disciplines, embracing new technologies that facilitate more efficient R&D and data analysis, centring patients and their experiences in healthcare, and generally trying to step beyond personal biases to look at the bigger, global picture. So, despite the need to keep an eye on hazards in the periphery, we can’t wait to see what innovations await us in the coming year as we drive forwards!