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Life Science Angels

Life Science Angels is a not-for-profit corporation with 130-150 accredited investor members, 12-18 highly qualified fellows, and 12-15 sponsor organizations. We take no carry or management fees on investments. We do not charge companies any fees.

San Francisco, CA, USA

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Description

Life Science Angels (LSA) is a premier, member-led angel investment organization based in Sunnyvale, California. Founded in 2005, it focuses exclusively on early-stage life science opportunities across biotechnology, medical devices, diagnostics, and digital health. As of 2026, the group remains one of the most active healthcare-focused angel networks in the United States. 
  • Early Institutional Stage: LSA primarily targets Seed and Series A rounds.
  • Maturity Requirements: Startups typically need to be 2–3 years old with strong evidence of "proof of science," such as positive in vitro, animal, or preliminary human data.
  • Lead Investor Preference: While they often syndicate with other groups, they prioritize deals with established lead investors. 
  • Direct Online Application: Founders apply through the LSA online portal by selecting "New Company Profile".
  • Content: The application requires answers to roughly 40 questions, a one-page executive summary, and a professional pitch deck.
  • No Application Fees: LSA does not charge companies any fees for applying or presenting. 
  • Rolling Basis: LSA evaluates applications year-round.
  • 2026 Engagement: As of early 2026, LSA is active and participating in major ecosystem events.
    • JP Morgan Healthcare Week (Jan 12–15, 2026): LSA partners frequently convene in San Francisco during this week.
    • ACA Life Science Investor Call (Jan 20, 2026): Member engagement with the Angel Capital Association occurs monthly. 

Eligibility

  • Geography: Primarily United States; companies outside the region are considered if they have a local lead investor known to LSA.
  • Corporate Structure: Must be incorporated as a U.S. C-Corp. Foreign entities and LLCs are generally ineligible.
  • IP Ownership: The U.S. entity must own or control all relevant intellectual property.
  • Exit Horizon: Targets companies with a clear liquidity path (M&A or IPO) within 3–6 years. 

Process

The group follows a structured quarterly-focused cycle with bi-weekly screening meetings: 

  1. Pre-Screening: Initial review by a dedicated team to evaluate the problem, solution, and management team.
  2. Bi-weekly Screening Meeting: Selected companies give a 15-minute presentation followed by a 10-minute Q&A.
  3. Due Diligence: High-potential deals undergo a rigorous 4–8 week deep-dive conducted by members and investment fellows.
  4. Syndicated Investment: LSA pools individual member contributions into a single LLC, appearing as a single line item on the startup's cap table.

What an Applicant can Obtain

  • Strategic Capital: Access to "smart money" from a network of over 130 former CEOs, physicians, and scientists.
  • The "LSA Fellowship" Advantage: Access to hands-on support from Investment Fellows—highly qualified graduate-level students and postdocs who assist with due diligence.
  • Post-Investment Stewardship: LSA generally provides a board member or observer to offer ongoing strategic advisory.