Any advice for applying for jobs that specify a PhD as a requirement, but for which I'd be otherwise qualified? I'm in bioinformatics, and trying to transition

Any advice for applying for jobs that specify a PhD as a requirement, but for which I'd be otherwise qualified? I'm in bioinformatics, and trying to transition into a particular field. I completed a masters degree, and have been working for a few years in a rather intense academic research lab. I don't have any intention of being a professor, but would like to continue in research- based on that, most people I've talked to have advised to skip the PhD. However, more and more company jobs like the bioinformatics positions I'm eyeing at Craig Venter's new Human Longevity Institute seem to be specifying PhDs as a requirement. Any insight or suggestions?