The JP Morgan Conference in January 2026 was not the same as past conferences.
From narrative to execution: Conversations were less about vision statements and more about operational credibility; what can be built, scaled, and clinically de-risked in the next 12 to 24 months. Capital remains available, but it is chasing evidence of traction, not storytelling. On this construal, HYGEIA Group would like to make available a Case Study that is currently being used by our Managing Partner (Amin Jagani) to teach post-graduate students in clinical research in the course, Advanced Concepts in Pharmaceutical Drug Development and Clinical Research. Amin serves as a Lecturer/ Adjunct Faculty at York University in the Faculty of Continuing Education.
The document (see link below) is a case study in the ImmunoOncology (IO) therapeutic area and is based on generalized, anonymized experiences from the biotech investment landscape. All company names (e.g., “313 Ventures,” “Himalaya Biotech”), individual names, specific financial figures, and therapeutic asset details are fictional and have been created solely for this educational exercise. Any resemblance to actual companies, individuals, or specific investment events is coincidental.
This case study is not investment advice, nor does it endorse or critique any real entity. It is intended to demonstrate frameworks and principles of operational due diligence in biotech venture capital based on HYGEIA Group’s experience in the biotech venture capital industry.
