Catalyzing Capital, Innovation, and Impact to Advance Women's Health | Global Conference 2026

Network Growth and Strategic Funding

• The Women's Health Network now comprises 170 organizations across federal, state, private, and philanthropic sectors.
• The network launched a $1 billion funding initiative, originally envisioned as $1 million, to address research and treatment gaps.
• Merck announced a $500,000 grant to the Milken Institute's Health Catalytic Fund, utilizing a double-bottom-line strategy to generate returns and reinvest in women's health.
• Merck's "Merck for Mothers" program has catalyzed an additional $150 million from other partners toward maternal health over the last 14 years.
• The Milken Initiative plans to raise net new capital for an emerging fund managers program while deploying a catalytic philanthropic fund to de-risk early-stage commercialization.

Scientific Gaps and Historical Context

• Historically, medical research, textbooks, and clinical trials excluded women or utilized male models (e.g., male mice) to study women-specific conditions like menopause.
• The U.S. economy loses over $2 billion annually due to productivity loss related to menopause symptoms.
• Women were not included in federal clinical trials until 1993, resulting in a century of data gaps regarding female biology.
• Dr. Biden highlighted that cardiovascular disease is the leading cause of pregnancy-related deaths and affects one in three women globally via chronic conditions.

State-Level Initiatives and Systems View

• California aims to reduce maternal mortality by 50% by December, achieving near-target status through cross-collaborative partnerships.
• The California Surgeon General's office introduced the "PRIMA" tool, an eight-question, patient-initiated survey for home-based preconception cardiovascular risk screening.
• The PRIMA questionnaire is available in English and Spanish at primaca.org to address the reality that 80% of health occurs outside clinical settings.
• California views pregnancy as a "check engine light" for future health, noting up to a 70% lifetime risk of cardiovascular disease for women with cardiac disorders during pregnancy.
• Dr. Ramos emphasized that 1 in 3 women of reproductive age in California and 1 in 2 globally experience unintended pregnancies.

Private Sector Innovation and Investment

• Afton Batchery's company, Modern Fertility, achieved a $225 million exit after validating at-home fertility tests, reducing costs by 10x and addressing the lack of age-related fertility data.
• Merck invested in Mammo Test, a digital screening platform that has screened 1 million women (600,000 since 2020) for breast cancer and cardiovascular disease.
• Through the City Cancer Challenge, investments in patient navigation programs in Kigali, Rwanda, reduced the time from diagnosis to treatment from 82 to 28 days (a 65% reduction).
• The private sector is shifting from a "male model right-sized for women" to fundamentally studying differences in female biology, including hormone fluctuations and life-stage transitions.
• Modern Fertility expanded beyond reproductive health to address perimenopause and menopause, recognizing distinct consumer needs across the lifecycle.

Market Dynamics and Consumer Demand

• Investors initially questioned the demand for proactive women's health data, with many changing their stance after personal conversations with their own partners and family members.
• Women are increasingly demanding education on cardiovascular risks, menopause management, and preventative care rather than waiting for acute symptoms to appear.
• Dr. Biden noted that with the Baby Boomer generation reaching age 65, the U.S. healthcare system is unprepared for the volume of care required for aging women.
• The market opportunity spans therapeutics, care delivery models, and digital tools, with a consensus that women represent 51% of the population and 80% of healthcare decision-making.

Artificial Intelligence and Data Equity

• Approximately 40 million daily users are asking AI tools health-related questions, including those about menopause and insomnia, often uploading Electronic Health Records (EHRs).
• Dr. Ramos identified a critical gap in AI algorithms lacking diverse female data, including representation of women of color, rural populations, and specific sex identification.
• There is a growing reliance on trusted community voices (doulas, promotoras) alongside AI to ensure cultural competence and build patient trust.
• California is positioned as a global testbed for AI-driven health innovations due to its diverse population and independent data sets.

Ecosystem Challenges and Future Directions

• Key barriers identified include lack of payment coverage, reimbursement hurdles, and complex regulatory approval processes for new women's health innovations.
• The network has established working groups focused on employer coverage, regulatory alignment on patient-centric endpoints, and validating biomarkers.
• Dr. Biden advocates for a global "one voice" strategy centered on prevention, education, and evidence-based information to empower aging women.
• Future investments will prioritize scalable solutions like point-of-care ultrasound (POCUS) driven by AI, particularly in underserved regions like Africa.
• The consensus is that the current moment differs from the past due to a unique convergence of private capital, philanthropic funding, and consumer demand breaking down sector silos.