PitchBook年LSX世界大会的启示（英）

1PitchBook Data, Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligencePaul Condra Global Head of Private Markets ResearchJames Ulan Director of Emerging Technology ResearchInstitutional Research GroupAnalysisAaron DeGagne, CFA Senior Research Analyst, Healthcare aaron.degagne@pitchbook.compbinstitutionalresearch@pitchbook.comPublishingDesigned by Josie DoanPublished on May 8, 2025ContentsIntroduction1Key takeaways2Momentum for European healthtech3Spotlight on women’s health4Appendix5EMERGING TECH RESEARCHTakeaways From the 2025 LSX World CongressPitchBook is a Morningstar company providing the most comprehensive, most accurate, and hard-to-find data for professionals doing business in the private markets.IntroductionThe 11th Annual LSX World Congress brought together global leaders in medtech, healthtech, and biotech for two days of networking and panel discussions at London’s Business Design Centre from April 29 to 30, 2025. Attendees were in high spirits—perhaps helped by unseasonably warm weather in London and a surprise sighting of Arsenal’s football team near the venue ahead of its Champions League match. Notably, this marks LSX’s final year in London, as the conference will move to Lisbon for its 2026 edition next March.This year’s event brought together 1,500 executives and industry participants from startups, publicly listed companies, investors, strategics, and other key stakeholders. With programming that spanned the entire life sciences ecosystem, LSX 2025 featured dedicated speaker tracks for the medtech, healthtech, and biotech sectors, and startup showcases offered an additional platform to spotlight emerging technologies and companies. Core panel sessions explored a wide range of topics, including strategies for global expansion, startup funding decisions, leveraging AI to address health equity gaps, data privacy in life sciences, and pathways to drive new product adoption in the UK’s National Health Service.2Analyst Note: Takeaways From the 2025 LSX World CongressKey takeaways• Efficiency emerged as a key theme, with companies focused on doing more with less. Panelists discussed the potential downsides of large funding rounds, noting that they can lead to inefficiencies and occasionally lower returns for investors.• “Don’t be the next Kodak.” In an environment where strategics are pulling back from corporate VC, Robert Kossmann from Fresenius emphasized that strategic investment could serve as a defensive tool to stay ahead of disruptive innovation.• Investors offered valuable advice to startups during panel discussions, stressing that detractors can become your allies by providing strong feedback. Several panelists shared the view that it is crucial to understand the VC mindset when funding is declined so that startups can be positioned for a better outcome next time.• Attendees were candid about the challenges European companies face in the current tariff-driven landscape. However, there was also