The 2025 SRS Acquiom Life Sciences M&A Study offers insights from 466 private-target life sciences transactions, including 342 with an earnout and 242 that had at least one milestone due by mid-2025.
With data going back more than 15 years, our mature dataset allows us to explore in great depth:
- Trends in deal volume and negotiated terms
- Expert-driven, detailed earnout achievement analysis
- Prevalence of indemnification claims against the escrow
Download your copy now for exclusive insights drawn from deals with an aggregate up-front value of $99 billion plus $95 billion in earnout potential.
Since 2008, SRS Acquiom has supported life sciences M&A transactions involving biotech/pharmaceutical products (Bio/Pharma), medical devices, diagnostics, and life sciences tools and technologies.
Casey is the managing director of SRS Acquiom’s professional services team and shareholder representation business. He also oversees thought leadership for the company, including development of SRS Acquiom’s industry-leading annual Deal Terms Study and the Claims, Life Sciences, and PPA Studies.
Before joining SRS Acquiom, Casey was a litigation & trial attorney at a San Francisco law firm. Casey represented Fortune 50 clients as well as SRS Acquiom and its clients, and took multiple cases to trial and appeal.
Casey received his B.S. from Arizona State University’s W. P. Carey School of Business, and his law degree from University of California, Berkeley. He is a licensed attorney in California.
Kip is a senior director leading the SRS Acquiom thought leadership practice, the mission of which is to share resourceful content built from SRS Acquiom expertise and proprietary data. In addition to facilitating scores of interactive presentations at M&A conferences and law firms, Kip authors a plethora of articles and data studies regularly utilized by the market.
Previously, Kip was a part of the SRS Acquiom Transactional Group, where he collaborated with clients and counsel to negotiate M&A documents including purchase, escrow, payments, and other transactional agreements. Before joining SRS Acquiom, he was an attorney with a Denver-based boutique business law firm working on middle-market M&A deals.
Kip holds J.D. and M.S. (Econometrics) degrees and is a member of the Colorado bar.
Don advises life science clients on M&A deal negotiations and post-closing milestones and earnouts. He is principal author of our life science studies and a frequent speaker at industry events.
Before joining SRS Acquiom, Don spent more than a decade helping to grow two venture-backed life science start-up companies through IPOs. He has been responsible for many strategic transactions involving licensing, partnering and M&A, as well as financings with leading venture capital and private equity firms. He was formerly SVP, Corporate Development and General Counsel for Replidyne, an antibiotic drug development company, and VP, Legal Affairs and Business Development for Caliper Life Sciences, a microfluidics company. He began his career as a business attorney with Cooley LLP.
Don holds a law degree from USC and a BA in Molecular, Cellular and Developmental Biology from the University of Colorado.