San Francisco leads global life sciences M&A. This list covers 12 active advisors in 2026 — deal sizes, sector focus, and verified transactions across biopharma, biotech, medtech, and genomics.
SF life sciences M&A in 2026
Global biopharma M&A hit $106 billion year-to-date in 2026, according to CNBC. Bay Area companies drove a disproportionate share of that deal volume. Novartis, AstraZeneca, and Merck each made major Bay Area acquisitions in 2025. The SF life sciences ecosystem now spans biotech, genomics, and medical devices.
Strategic buyers run continuous Bay Area acquisition programs right now. Your advisor needs live relationships inside those corporate development teams. A life sciences deal without sector-specific advisors takes longer and prices lower.
Build an Ellty virtual data room before your first advisor meeting. Life sciences buyers request IP files, clinical data, and regulatory submissions early. Organized documents reduce diligence delays and protect against late-stage repricing.
Use the mergers and acquisitions page to understand deal structure options.
What separates SF life sciences advisors
The best SF life sciences advisors close 5-12 biopharma transactions per year. Boutiques like Centerview and Leerink carry deal histories that matter to pharma buyers.
Strategic acquirers check your advisor's track record before engaging with your process. An advisor with 5 deals in your sub-sector carries real credibility with the right buyers.
Life sciences M&A requires advisors who can explain clinical assets to non-scientists. That capability separates the top SF firms from generalists competing on the same mandates.
Use Ellty's granular permissions to control which buyers see your clinical data and IP filings.
| Deal Type | Deal Size | Sector Focus | Website | |
|---|---|---|---|---|
| Centerview Partners | Sell-side | $500M–$15B+ | Biopharma, oncology, rare disease, specialty pharma | centerview.com |
| Lazard | Both | $1B–$15B+ | Biopharma, specialty pharma, life sciences tools | lazard.com |
| Leerink Partners | Both | $100M–$5B+ | Biopharma, biotech, genomics, precision medicine | leerinkpartners.com |
| Evercore | Both | $500M–$15B+ | Biopharma, oncology, immunology, rare disease | evercore.com |
| Moelis & Company | Both | $500M–$10B+ | Biopharma, biotech, oncology, cell and gene therapy | moelis.com |
| Guggenheim Securities | Both | $500M–$10B+ | Biopharma, biotech, medtech, specialty pharma | guggenheimpartners.com |
| Piper Sandler | Both | $100M–$5B+ | Biopharma, medtech, genomics, digital health | pipersandler.com |
| TD Cowen | Both | $100M–$3B+ | Biopharma, biotech, genomics, oncology | tdcowen.com |
| Stifel (Torreya) | Both | $50M–$3B+ | Biopharma, specialty pharma, royalties, licensing | stifel.com |
| Cain Brothers | Both | $50M–$2B+ | Healthcare services, hospitals, life sciences | cainbrothers.com |
| Houlihan Lokey | Both | $50M–$5B+ | Biopharma, medtech, diagnostics, healthcare services | hl.com |
| William Blair | Both | $50M–$2B+ | Biopharma, medtech, diagnostics, healthcare tech | williamblair.com |
How to verify a life sciences advisor
Ask for a deal list from the last 24 months with buyer names and deal values. A credible SF life sciences advisor closes 5+ biopharma transactions per year.
Don't accept generic healthcare credentials — ask which deals were in your sub-sector. Oncology, rare disease, and genomics each have different buyer pools and timelines.
Ask the advisor to name five active acquirers currently running programs in your area. A pause means they don't have the live buyer relationships that matter in SF.
Ellty's due diligence page outlines what buyers check during a life sciences process.
Life sciences M&A data room
Organize your clinical data, IP filings, and regulatory documents before buyers start diligence.
Start free 14-day trial12 SF life sciences M&A advisors in 2026
These firms are active in biopharma, biotech, medtech, and genomics M&A in San Francisco and the Bay Area in 2026.
1. Centerview Partners
Centerview ranked #1 globally in pharma M&A deal count in 9M 2024, with 19 mandates. They advised J&J on its $14.6 billion acquisition of Intra-Cellular Therapies in early 2025. If you need a major pharma buyer at the table, Centerview is the most active sell-side firm in biopharma.
Recent Deals: Advised Intra-Cellular Therapies on its $14.6B acquisition by Johnson & Johnson (January 2025). Advised CymaBay Therapeutics on its $4.3B acquisition by Gilead Sciences (March 2024). Advised Inhibrx on its $2.2B acquisition by Sanofi (May 2024).
LinkedIn: Centerview Partners on LinkedIn
Sector Focus: Biopharma, oncology, rare disease, specialty pharma
Deal Type: Sell-side
Deal Size: $500M–$15B+
Location: San Francisco, CA (Bay Area office, New York headquarters)
Website: centerview.com
2. Lazard
Lazard ranked #2 globally in pharma M&A deal count in 9M 2024, with 16 mandates. They advised AbbVie on its $10.1B ImmunoGen acquisition and Mallinckrodt on its Endo merger. Lazard combines global cross-border reach with deep Bay Area life sciences relationships.
Recent Deals: Advised ImmunoGen on its $10.1B acquisition by AbbVie (February 2024). Advised Vertex Pharmaceuticals on its $4.9B acquisition of Alpine Immune Sciences (2024). Advised Mallinckrodt on its $6.7B merger with Endo (August 2025).
LinkedIn: Lazard on LinkedIn
Sector Focus: Biopharma, specialty pharma, life sciences tools, cross-border M&A
Deal Type: Both
Deal Size: $1B–$15B+
Location: San Francisco, CA (Bay Area office, global network)
Website: lazard.com
3. Leerink Partners
Leerink Partners is the largest independent healthcare investment bank in the United States. They focus exclusively on life sciences with deep analyst relationships across biotech. Leerink's equity and M&A teams run integrated sell-side processes for Bay Area biotech companies.
Recent Deals: Active across biopharma M&A and equity capital markets in 2025-2026 with an exclusive life sciences focus and SF Bay Area coverage.
LinkedIn: Leerink Partners on LinkedIn
Sector Focus: Biopharma, biotech, genomics, precision medicine, digital health
Deal Type: Both
Deal Size: $100M–$5B+
Location: San Francisco, CA (Bay Area office, Boston and New York headquarters)
Website: leerinkpartners.com
4. Evercore
Evercore advised Cidara Therapeutics on its $9.2 billion acquisition by Merck in 2025. Their healthcare advisory team is in the top tier of every professional assessment for life sciences M&A. Leaders League placed Evercore in the "Excellent" tier for US healthcare M&A in 2026.
Recent Deals: Advised Cidara Therapeutics on its $9.2B acquisition by Merck (2025). Active across biopharma M&A in the Bay Area with a dedicated healthcare advisory group through 2026.
LinkedIn: Evercore on LinkedIn
Sector Focus: Biopharma, oncology, immunology, rare disease, specialty pharma
Deal Type: Both
Deal Size: $500M–$15B+
Location: San Francisco, CA (Bay Area office, New York headquarters)
Website: evercore.com
5. Moelis & Company
Moelis advised 89bio in its $3.5 billion acquisition by Roche in September 2025. Their healthcare team covers biopharma and biotech across cross-border and large-cap deals. Moelis brings both M&A and restructuring expertise to complex life sciences transactions.
Recent Deals: Advised 89bio on its $3.5B acquisition by Roche (September 2025). Active in biopharma M&A with a dedicated healthcare practice and Bay Area coverage through 2026.
LinkedIn: Moelis & Company on LinkedIn
Sector Focus: Biopharma, biotech, oncology, cell and gene therapy, specialty pharma
Deal Type: Both
Deal Size: $500M–$10B+
Location: San Francisco, CA (Bay Area office, global network)
Website: moelis.com
Life sciences M&A data room
Organize your clinical data, IP filings, and regulatory documents before buyers start diligence.
Start free 14-day trial6. Guggenheim Securities
Guggenheim advised Gilead Sciences on its $4.3B acquisition of CymaBay in 2024. They also advised on the $10 billion Pfizer acquisition of Metsera, a Bay Area biotech, in 2025. Guggenheim's healthcare group covers both large-cap strategic M&A and mid-market biopharma.
Recent Deals: Advised Gilead Sciences on its $4.3B acquisition of CymaBay Therapeutics (March 2024). Advised on the Pfizer acquisition of Metsera (2025). Active in Bay Area life sciences M&A through 2026.
LinkedIn: Guggenheim Securities on LinkedIn
Sector Focus: Biopharma, biotech, medtech, specialty pharma, cardiovascular
Deal Type: Both
Deal Size: $500M–$10B+
Location: San Francisco, CA (Bay Area coverage, New York headquarters)
Website: guggenheimpartners.com
7. Piper Sandler
Piper Sandler runs one of the most active healthcare investment banking practices among mid-market banks. Their life sciences team covers biopharma, genomics, and digital health from $100M to $5B. Piper Sandler's SF team covers Bay Area biotech at the emerging company stage through large-cap exit.
Recent Deals: Active in biopharma and medtech M&A across the Bay Area through 2025-2026 with a dedicated healthcare investment banking team and SF office.
LinkedIn: Piper Sandler on LinkedIn
Sector Focus: Biopharma, medtech, genomics, digital health, oncology
Deal Type: Both
Deal Size: $100M–$5B+
Location: San Francisco, CA (Bay Area office, national network)
Website: pipersandler.com
8. TD Cowen
TD Cowen is one of the most active biopharma advisory firms in the country by deal volume. Their healthcare team combines equity research and M&A advisory for Bay Area founders. TD Cowen covers early-stage biotech through large-cap biopharma exits with a dedicated SF presence.
Recent Deals: Active in biopharma M&A advisory across oncology, genomics, and specialty pharma in the Bay Area through 2025-2026.
LinkedIn: TD Cowen on LinkedIn
Sector Focus: Biopharma, biotech, genomics, oncology, precision medicine
Deal Type: Both
Deal Size: $100M–$3B+
Location: San Francisco, CA (Bay Area office, national network)
Website: tdcowen.com
9. Stifel (Torreya)
Stifel's life sciences group includes Torreya, which ranked #3 in pharma M&A deal count in 9M 2024. Torreya specializes in royalty monetization, licensing, and biopharma M&A with a Bay Area client base. The combined Stifel life sciences team covers deal structures that other advisors can't execute.
Recent Deals: Torreya, now part of Stifel, ranked #3 globally in pharmaceutical M&A by deal count in 9M 2024 per GlobalData. Active in biopharma M&A and royalty transactions through 2026.
LinkedIn: Stifel on LinkedIn
Sector Focus: Biopharma, specialty pharma, royalties, licensing, pharmaceutical services
Deal Type: Both
Deal Size: $50M–$3B+
Location: San Francisco, CA (Bay Area coverage, national network)
Website: stifel.com
10. Cain Brothers
Cain Brothers is the oldest independent healthcare investment bank in the United States. Now part of KeyBanc Capital Markets, they focus exclusively on healthcare M&A and capital markets. Cain Brothers covers the full spectrum from hospital systems to biopharma and medical devices.
Recent Deals: Active in healthcare M&A and capital markets advisory through 2025-2026 with a focus on life sciences, healthcare services, and medtech transactions in the Bay Area.
LinkedIn: Cain Brothers on LinkedIn
Sector Focus: Healthcare services, hospitals, life sciences, medtech, behavioral health
Deal Type: Both
Deal Size: $50M–$2B+
Location: San Francisco, CA (Bay Area coverage, New York headquarters)
Website: cainbrothers.com
11. Houlihan Lokey
Houlihan Lokey is the No. 1 global M&A advisor by transaction volume in 2024. They run one of the largest healthcare investment banking teams in the world. Their mid-market focus makes them the strongest option for Bay Area deals in the $50M-$500M range.
Recent Deals: Active across healthcare M&A with a global team covering biopharma, medtech, and diagnostics through 2025-2026. Ranked No. 1 globally for M&A transactions in 2024.
LinkedIn: Houlihan Lokey on LinkedIn
Sector Focus: Biopharma, medtech, diagnostics, healthcare services, pharma manufacturing
Deal Type: Both
Deal Size: $50M–$5B+
Location: San Francisco, CA (Bay Area office, global network)
Website: hl.com
12. William Blair
William Blair runs a dedicated life sciences M&A team covering biopharma and medtech. Their M&A practice combines research coverage and advisory for strategic and financial buyers. William Blair's SF coverage extends to Bay Area biotech and genomics at the emerging growth stage.
Recent Deals: Active in biopharma and medtech M&A advisory through 2025-2026 with a dedicated healthcare banking group and Bay Area coverage.
LinkedIn: William Blair on LinkedIn
Sector Focus: Biopharma, medtech, diagnostics, genomics, healthcare tech
Deal Type: Both
Deal Size: $50M–$2B+
Location: San Francisco, CA (Bay Area coverage, Chicago headquarters)
Website: williamblair.com
Biopharma deal timelines in SF
Bay Area biopharma acquisitions typically run five to nine months from launch to close. Gene therapy and cell therapy deals with complex IP structures can extend to twelve months. Oncology deals with clinical urgency can close in three to five months.
Buyers in SF biopharma M&A conduct deep technical diligence before submitting bids. They review IND filings, clinical trial data, manufacturing agreements, and IP chain-of-title. A disorganized data room delays diligence and creates opportunities for buyers to reprice.
Ellty's investor relations page explains what financial sponsors look for in a biopharma data room. Load your Phase 2 and Phase 3 data packages before any advisor conversation.
Ellty's venture capital page covers how VC-backed life sciences companies stage data rooms for a sale process.
What PE buyers check in diligence
PE buyers running biopharma consolidation strategies focus on manufacturing scalability and IP exclusivity. They want to know if your patents cover composition of matter, method of use, and formulation. Any gap in IP coverage shows up in the LOI as a purchase price adjustment.
Financial sponsors also focus on regulatory dossiers and FDA correspondence history. Complete manufacturing records and CMC documentation speed up the close process significantly.
Use Ellty's private equity page to prepare your IP and regulatory files before going to market.
How Ellty helps you close a life sciences M&A deal
Build your data room early. Bay Area life sciences buyers expect organized IP and clinical files.
- 1.Upload clinical data and IP filings securelyAdd IND filings, patent documents, and regulatory submissions before buyer outreach.
- 2.Set buyer permissions by deal stageControl who sees manufacturing data, CMC docs, and clinical trial files.
- 3.Track document activity to find serious buyersSee who opens clinical files and follow up with real buyer intent.
Common questions about SF life sciences M&A advisors
- Centerview ranked #1 globally with 19 pharmaceutical M&A deals in the first nine months of 2024, Lazard ranked #2 with 16 deals, and Stifel (Torreya) ranked #3 with 12 deals, per GlobalData.
- Expect five to nine months. Oncology deals with urgent buyer timelines can close in three to five months. Gene therapy and cell therapy deals with complex IP reviews can extend to twelve months.
- IND filings, clinical trial data, CMC documentation, manufacturing agreements, IP chain-of-title, and FDA correspondence are the six areas that most often create delays or price adjustments.
- Use a biopharma boutique like Centerview, Leerink, or Moelis for sell-side advisory. Their buyer relationships and sector credibility produce better outcomes than generalist banks at every deal size.
- Bay Area biopharma transactions in 2024-2026 range from $500M mid-cap oncology exits to $15B+ large-cap acquisitions. The $1B–$5B range is the most active segment by deal count.
- Upload your IP filings, clinical data packages, FDA correspondence, CMC documentation, financial models, and key contracts before your first advisor meeting. Use Ellty to control access by buyer tier throughout the process.
