From AI-driven drug discovery to psychedelic medicine: Five company highlights from the Jefferies conference

The conference brought together more than 3,000 leading executives, institutional investors and representatives from private equity and venture capital to discuss near- and long-term investment opportunities as well as the latest trends shaping the healthcare sector. Along with attending over 50 meetings with portfolio companies, it was a good opportunity to catch up with peers in the industry. Below we highlightc some of the more interesting meetings we had with management: 

Roche CEO Thomas Schinecker painted a compelling picture of how artificial intelligence and robotics could reshape the pharmaceutical industry. He believes AI will not only improve the chances of successfully developing new medicines but also significantly increase the number of drugs entering clinical development. Roche is already preparing for this future, with its newest US research facilities designed to be fully compatible with advanced robotics. On the product side, Roche could be on the verge of another major breakthrough in breast cancer with giredestrant, a potential multi-billion-dollar medicine targeting a large patient population. Meanwhile, investors will be watching closely for updates on Roche’s obesity pipeline at this weekend’s American Diabetes Association meeting in New Orleans, one of the most important events in the field.

BridgeBio management explained how the company is evolving from a company around a single product into a broader rare disease business. Its lead product, Attruby, is already generating strong sales in a heart disease market and has the potential to become a multi-billion-dollar drug. Management believes doctors will continue to use the drug as a standard treatment even as new competitors enter the market. Over the next year, BridgeBio plans to launch three additional medicines, each targeting rare genetic diseases with limited treatment options today. With management targeting profitability by 2027 and actively returning capital through a share buyback programme, BridgeBio is positioning itself as a leading rare disease company with combined peak sales of USD 8 bn across ist protfolio.

Cogent Biosciences has several important milestones approaching, including two key FDA decisions expected in late 2026 for its lead drug, bezuclastinib. The drug is being developed for two cancer-related diseases where physicians see a meaningful unmet need. We believe investors may be underestimating the commercial potential. If approved, it could become an important treatment option in both indications and allow Cogent to transition from a development-stage biotech company into a commercial company with multiple growth opportunities.

Compass Pathways is preparing for what could become the first major commercial launch of a psychedelic-assisted therapy for treatment-resistant depression. The team expects to file for approval in Q4, with a potential approval in late 2027 and DEA scheduling following within two to four months. Management emphasised that success will depend not only on regulatory approval but also on preparing treatment centres, training healthcare professionals, educating patients, and working closely with regulators to establish appropriate standards for the field. The discussion reinforced the view that psychedelic medicine is moving from an experimental concept to a more mature healthcare category, and Compass appears well positioned to play a leading role in shaping that transition.

Inventiva management remains highly confident ahead of the Phase III readout for its liver disease drug lanifibranor, particularly on its ability to reverse liver fibrosis, a key measure of disease improvement. While management does not believe the drug will immediately challenge Madrigal’s market leadership unless fibrosis reversal exceeds 20%, the broader market remains largely untapped, with only around 10% of eligible patients currently receiving treatment. With a pivotal Phase III readout expected in Q4 and a market capitalization of less than USD 1 bn, management believes the company offers significant upside potential if the clinical data are positive.