Whether it is FDA, tariffs, interest rates or geopolitical uncertainty, the macro has been exerting significant pressure on the biotech industry. Will there be widespread consolidation in the number of companies, the number of investment funds and the investors that manage them, and consequently the number of deals? Is this good for the industry, for biomedical innovation, and ultimately for patients? It is clear that investors are rethinking the future of investing in biomedical innovation. Biotech might look very different in a few years. Our panel will examine which forces are having the greatest influence and what the biotechnology community can do to attract stronger investment.