HEALTH & LIFE SCIENCES NEWS
HEALTH & LIFE SCIENCES NEWS
Exploring Critical Business and Legal Issues across the Healthcare and Life Sciences Industries
HEALTH & LIFE SCIENCES NEWS
Exploring Critical Business and Legal Issues across the Healthcare and Life Sciences Industries
Life Sciences
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Five Questions With a Life Sciences Lawyer: Michael Ryan

Michael Ryan
Practice Focus Area: Market Access (Diagnostics, Life Sciences)
Office: Washington, DC
Years at Firm: 16

What is your favorite part about practicing life sciences law at McDermott?
Clients come to us with difficult questions that require not just a command of the law, but an in-depth understanding of their business – and in some cases, the technology that makes their business different. Even after more than 16 years, I’m constantly learning something new, and the job is never boring!

What is the biggest opportunity and greatest challenge facing clients in your area of focus today?
Diagnostics companies face a lot of challenges, such as IP and fundraising. But in my corner of the world, the biggest problem is the timeline to reimbursement. It can take companies three to five years to get reimbursement from the time they think they’re market ready. The length of this pathway creates many challenges, but also substantial opportunity for those clients who are able to make it through.

What advice would you give to junior lawyers looking to build their practice in your focus area?
Be curious, particularly when it comes to the science underlying a technology. Many lawyers are reluctant to get too “in the weeds,” but it can be a real differentiator when your clients see that you really understand how the technology works and how [...]

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5 Questions with a Health Lawyer: Dr. Deniz Tschammler

Dr. Deniz Tschammler 
Practice Focus Area: Health and Life Sciences
Office: Munich/Frankfurt
Years at Firm: 2

What is your favorite part about practicing healthcare law at McDermott?
Apart from exciting clients and projects, a great privilege of my work at McDermott is to closely collaborate with a wide range of inspiring and outstanding health and life sciences lawyers – in our German offices, across Europe and the US. I am regularly working on large collaboration, market entry or compliance projects that involve multiple jurisdictions and/or require different legal perspectives. In such projects, it is invaluable to be surrounded by the right team of experts. After more than two years at McDermott, I am still impressed to see how quickly you find such helpful team across all offices. Moreover, everyone shares the same attitude and passion for achieving our clients’ goals. It is magnificent to be a part of this.

What is the biggest opportunity and greatest challenge facing clients in your area of focus today?
For many clients, the answer is digitization. At great speed, digitization is turning the health markets upside down. Digital health has started to revolutionize research and development, create entirely new ways of diagnosing and treating diseases, make the patient’s trip to the doctor or pharmacy unnecessary, and facilitate communication among all public and private players in the various health markets. This not only results in abolition and liberalization of outdated legal regimes, but also in new [...]

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McDermott and EY at the 2022 J.P. Morgan Healthcare Conference: Life Sciences Investment Forum

Despite offering one of the lowest total deal values on record, 2021 was an active M&A year. Due to the strong capital markets, a seller’s market continued, creating additional urgency for biopharma companies to accelerate their partnership agendas, especially to access new modalities that are likely to be the cornerstone of future growth. The past year also put the MedTech industry in a position of strength. With record levels of firepower, transformational M&A is still a possibility. Yet with soaring valuations in the sector and the ready availability of capital through booming VC, IPO and SPAC markets, MedTechs, too, need a creative approach to dealmaking strategy if they are to secure future growth.

During the Life Sciences Investment Forum, two panels addressed the above topics. First, biopharma leaders discussed the current state of innovation and how companies can use dealmaking to access new products and/or technologies in 2022. Then, M&A leaders from MedTech organizations and private equity firms shared insights and best practices for their 2022 plans.

M&A FirePower: BioPharma




M&A FirePower: MedTech




Below are the top takeaways for McDermott and EY at the 2022 J.P. Morgan Healthcare Conference: Life Sciences Investment Forum

Download the PDF here.

THE INNOVATION IMPERATIVE
The explosion in new therapeutic modalities like mRNA or cell therapy is [...]

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5 Questions with a Health Lawyer: Gregory E. Fosheim

Gregory Fosheim, JD, MPH
Practice Focus Area: Healthcare and Life Sciences
Office: Chicago, IL
Time at Firm: 2.5 years

What is your favorite part about practicing healthcare and/or life sciences law at McDermott?
There’s a reason why everyone answers this question with “the people.” The cadre of attorney and business professionals I have the privilege of working with every day is truly extraordinary, each of whom is exceedingly generous with their time and support, despite overwhelming workloads themselves. Everyone understands the healthcare and life sciences landscape and has an unapologetic passion toward doing impeccable work with the utmost professionalism and a healthy dose of humor and humility. It felt like I was given a parachute on my first day that allowed me to take leaps of faith to expand my practice into new areas of focus with the reassurance of a soft landing if I had any questions or challenges. Everyone is an integral member of the team and it shows.

What is the biggest opportunity and greatest challenge facing clients in your area of focus today?
We have an exhausted industry caring for an exhausted nation. The challenges today are the same challenges that the American healthcare system has had for decades: How to innovate? How to differentiate? How to collaborate? Now that we are more than a year into the global COVID-19 pandemic, [...]

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5 Questions with a Health Lawyer: Brian R. Stimson

Brian Stimson
Practice Focus Area: Enforcement and Litigation
Office: Washington, DC and Atlanta, GA
Time at Firm: 3 months

What is your favorite part about practicing healthcare law at McDermott?
I love the entrepreneurial culture of McDermott and the satisfaction that comes with finding creative ways to help clients solve problems. I also love the breadth and depth of the expertise and thought leadership at the Firm. I am continually amazed by the culture and capabilities at McDermott and I am excited to be a part of the team.

What is the biggest opportunity and greatest challenge facing clients in your area of focus today?
Uncertainty. The pandemic affected how health sector clients conduct business and has had wildly different financial consequences for the industries within the sector. It is unclear whether those economic changes will prove temporary or permanent. At the same time, there have been significant political changes at the federal level that will have policy, oversight, and enforcement consequences for the health sector. The clients who can successfully navigate this period of rapid political and economic change have an opportunity to accelerate out of the pandemic. We are uniquely equipped at McDermott to help clients capitalize on the uncertainty.

What kind of client work gets you most excited when it comes across your desk?
It is a tie between False Claims [...]

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McDermott Will & Emery and EY during the 2021 J.P. Morgan Healthcare Conference: Digital Health Pioneers Forum

 

 

Top industry executives BJ Moore, Executive Vice President and Chief Information Officer, Providence St. Joseph Health; Dr. Ali Parsa, Chief Executive Officer, Babylon Health; and Lucia Savage, Chief Privacy and Regulatory Officer, Omada Health, discussed the evolving doctor-patient relationship and the digitized data and technology convergence with healthcare delivery and payment along with moderators Dale C. Van Demark, Partner, McDermott Will & Emery; Rachel S. Hall, Partner, Digital Health Leader, EY; Stephen W. Bernstein, Partner, McDermott Will & Emery; and Lisa Schmitz Mazur, Partner, McDermott Will & Emery. They also provided insight into 2021’s regulatory considerations affecting healthcare innovation and its solutions.

Below are the top takeaways for McDermott Will & Emery and EY during the 2021 J.P. Morgan Healthcare Conference: Digital Health Pioneers Forum, click here to access the full webinar.

Access the PDF here.

CARE OF THE FUTURE
We are only seeing the beginning of the decentralization of care through information technology; but that shift is how scalable solutions to our health care challenges will develop. “Care delivery at home, where we can send patients home and remotely monitor them—eventually that will evolve to things like wearables -IoT devices- that we may have in our clinical settings. We’re seeing the [...]

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McDermott Will & Emery and EY during the 2021 J.P. Morgan Healthcare Conference: Election and Policy Implications: Healthcare Regulatory and Policy Outlook with the New Administration

The 2020 election gave Democrats the White House and control of both houses of Congress-an eleven seat majority in the House and Representatives, and a 50/50 split in the Senate with Vice President-elect Kamala Harris available to break ties. This change in the political landscape will lead to shifts in the health policy and regulatory agenda.

The panel, featuring Eric Zimmerman, McDermott Global Health Practice Lead; Brian Fortune, Senior Managing Director, Farragut Square Group; Mara McDermott, Vice President, McDermott+Consulting; Heather Meade, Principal, Health Care Policy, Washington Council Ernst & Young; and Thomas Scully, General Partner, Welsh, Carson, Anderson, and Stowe, discussed advice for investors as change comes to Washington.

Below are the top takeaways for McDermott Will & Emery and EY during the 2021 J.P. Morgan Healthcare Conference: Election and Policy Implications: Healthcare Regulatory and Policy Outlook with the New Administration, click here to access the full webinar.

Access the PDF here.

THE TRANSITION
President Biden was sworn in on January 20, 2021, and one of his first orders of business has been confirming new cabinet officials. Some key officials, such as Treasury Secretary Janet Yellen and Department of Defense Secretary Lloyd Austin, were easily confirmed in a bipartisan vote. However, others- like the nominee for Secretary of [...]

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Life Sciences Dealmaking Symposium: As the Dust Settles: Post-Election Update and Impact on the Life Sciences Industry

How will the election affect life sciences in 2021 and beyond? What’s ahead for the regulatory and policy environment? In this session, our elite group of policy analysts reviewed the election results and the far-reaching effects for dealmakers, executives and investors.

Eric Zimmerman, global head of McDermott’s Health Industry Advisory Practice Group, moderated this discussion that featured insights from Susan Van Meter, executive director at AdvaMedDx; Rodney Whitlock, PhD, vice president at McDermott+Consulting; and Brian Fortune, senior managing director at Farragut Square Group.

Below are the top takeaways for Life Sciences Dealmaking Symposium: As the Dust Settles: Post-Election Update and Impact on the Life Sciences Industry, click here to access the full webinar.

Access the PDF here.

President-Elect Biden’s legislative experience likely will help him reach across the aisle and engage with Republican congressional leadership to advance policy goals. “Biden spent his whole career on the Hill before he became vice
president, so he really understands how his colleagues tick, and he particularly understands the process of how the Hill makes sausage,” Mr. Fortune said. “That’s something that you can’t really say about either President Obama or President Trump. So, not surprisingly, you saw that when they had all the majorities lined up in their favor, they could move stuff, but when they didn’t, it became a little harder.”

With only a narrow projected majority in the US House of Representatives, Democrats will need to work together more effectively and reach [...]

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Life Sciences Dealmaking Symposium: Powering through the Pandemic: Trends in Early-Stage Investment

The pursuit of progress during these unprecedented times has led to a surge in life sciences investment and funding for early stage companies. Investors are on the lookout for the next big innovation while also navigating new ways of sourcing and managing portfolio companies. Our panel of experienced early-stage investors discussed the top trends in this push for advancement, including sectors attracting the most dollars in today’s challenging business landscape, key issues that early stage investors are watching as they source and vet new investment opportunities, steps that executives of early-stage companies can take to articulate their value and attract investors, and more.

McDermott partners Todd Finger and Joanna Lin moderated this discussion featuring Eric Aguiar, MD, partner at Aisling Capital; Dr. Andrew ElBardissi, partner at Deerfield Management; and Marian Nakada, vice president of venture investment at J&J Innovation.

Below are the top takeaways for Life Sciences Dealmaking Symposium: Powering through the Pandemic: Trends in Early-Stage Investment, click here to access the full webinar.

Access the PDF here.

COVID-19 fundamentally changed the process for evaluating new investment opportunities, Dr. ElBardissi said. “Meeting face-to-face with the management team, kicking the tires, touring the facility—those are intangible factors
that are very difficult to replace in this corporate environment,” he said. “Candidly, the bar has gotten significantly higher, as you think about our inability to conduct diligence the way we would like and as you think about all the constraints in the current environment.”

[...]

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What is the Impact of Recent Regulation and Government Measures on Investments in Healthcare and Life Sciences in Europe?

In the fourth installment of McDermott’s HPE Europe Summer Webinar Series 2020: What’s the Impact of Recent Regulation and Government Measures on Investments in Healthcare and Life Sciences in Europe? moderator and McDermott partner Dr. Stephan Rau and industry experts Karthic Jayaraman of TPG Capital, Max Müller of Bayer, Ben Faircloth of L.E.K. Consulting and Dr. Ulrich Wandschneider, former CEO of Asklepios AG, currently at Trilantic Capital Partners and Supervisory Board member of BioNTech SE, the Nasdaq-listed developer of COVID vaccine, headquartered in Germany, discussed the impact that COVID-19 and the government measures to address it have had on investments in healthcare and life sciences in Europe.

“I think it’s about as interesting a time as any in my last 20 years investing,” said Jayaraman. “People are beginning to focus a lot more on innovation, the speed of innovation and how innovation is brought to market. I think the question is, “How can we continue to reward innovation, both by simplifying the process by which it’s made possible and how we value it?”

“New developments in digital health have become more and more attractive as people have had faster access to care and governments have understood that some of their regulations needed to be adjusted,” added Müller.

Jayaraman agreed. “There has been an acceleration of the provision of care through telehealth services and any kind of remote administration of care. It’s probably been an acceleration of two-plus years collapsed into months. I also think we’re going to see some vigorous [...]

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