The convergence of diverse disciplines and commitment to innovating beyond borders have prompted pharma to adopt more open partnering models. For the past two decades, initiatives incentivizing cross-sector collaboration and data-sharing have flourished, with more open innovation emerging as a key driver. Open innovation encourages pharma to share key challenges with external innovators and create mechanisms that bring experts together in new ways to solve these challenges. Unlike traditional deal-oriented approaches, open innovation models are solution-oriented and ecosystem-focused. And the focus is on cutting-edge science and technology for the benefit of patients. Decades of testing the waters through precompetitive consortia, grants, and the exchange of materials and expertise have paved the way for novel collaborative approaches. Panelists will share how they navigate this transformative landscape, and the essential need to reflect on best practices and work together to further strengthen open innovation.