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A featured contribution from Leadership Perspectives: a curated forum reserved for leaders nominated by our subscribers and vetted by our Pharma Tech Outlook APAC Advisory Board.
Janis Naeve, leveraging her expertise, makes a substantial contribution by investing in health tech firms dedicated to addressing healthcare challenges through groundbreaking advancements in biotechnology and digital tools. Her commitment to driving innovation continues to improve healthcare, making it more accessible and effective for all.
In an interview with Pharma Tech Outlook, Janis emphasizes the expanding role of healthcare technology, with a positive focus on the increasing significance of value-based care and AI innovation.
Can you describe your key roles and responsibilities as a partner and provide a brief overview of your career journey in the industry?
I serve as a partner in the healthcare division of Cota Capital, a San Francisco-based venture capital and public investment firm that has been in existence for approximately seven years. I joined a little over a year and a half ago. Prior to that, I was the head of Amgen Ventures’ Corporate Venture Arm. My interest in applying healthcare technology at scale in terms of investments led me to Cota Capital.
What are the significant challenges and concerns that keep you up at night as a partner at Cota Capital?
I find several elements in the healthcare industry particularly exciting today. Despite being an innovation leader, the U.S. healthcare industry faces a significant misalignment. A $4 trillion industry, nearly 20 percent of our GDP excels in innovation but lags in affordability and outcomes of patient care. Also, to transform the sector, a shift from fee-for-service to value-based care is essential, demanding changes in government policies.
It necessarily doesn’t keep me up at night but instead fills me with optimism and excitement, opening the door to patient-centric healthcare. Aligning these aspects can positively impact patients’ lives and leverage groundbreaking discoveries, including AI, for the better.
When investing in healthcare startups, what are the qualities that you specifically look for?
Based on my early career learnings, I evaluate investments based on four key factors: the technology, the platform, the company’s operational plans, and the venture syndicate. Additionally, I assess the involvement of other VCs and the strength of the management team. These elements collectively shape my assessment of a company, and while some may be more advanced than others, these are the four qualifications I prioritize.
“Starting with the bio convergence of science, mathematics, and computational biology stands as a key factor propelling us to the forefront of healthcare innovations”
How do you support portfolio companies in addressing their growth challenges beyond capital infusion?
When it comes to startup companies developing pharma and biotech equipment systems, I emphasize four key verticals. Macroeconomic challenges affect funding, particularly for later-stage firms—early-stage startups secure financing with smaller raises and adjusted valuations, which isn’t necessarily negative. Evaluations and capital flow spiked in 2018-2019 but are now changing to a more realistic approach.
The most promising startups differentiate by solving specific problems, not just having technology or a company. Educating about pharma solutions is crucial. A well-balanced team, combining science with practical application, effectively articulates their value proposition to potential venture capitalists.
How do you stay updated on emerging industry trends and industries, given the constant influx of new technologies in today’s fast-paced world?
Staying updated is a constant challenge, but I use various methods. We have a network of deeply involved advisors, and I consult with them regularly. I scan newsletters and reports daily from sources like bankers, fierce publications, and endpoints to identify emerging trends.
Being in San Francisco, I can meet with key opinion leaders in the scientific community. Engaging colleagues in the venture capital industry is also beneficial; we exchange ideas and insights about our portfolios. Also, listening to podcasts helps me stay informed about healthcare-related content and various technologies, keeping me updated on emerging industry trends.
What advice would you offer to your fellow peers and colleagues in the industry?
Focusing on AI in the pharma industry’s drug discovery and development, which has matured over a decade, is crucial. Some companies effectively demonstrate AI’s utility. Venture investors should consider teams with pharma AI experience.
Early drug discovery, mainly target identification and designing new molecules, has seen notable success. As we progress in drug development, there are potential applications in translational medicine, clinical trial enrollment, patient engagement, stratification, and delivering therapeutics to patients while collecting real-world evidence.
Experienced individuals using AI will ensure the delivery of suitable drugs to the right patients, making a meaningful impact on the healthcare industry.
