Stay updated on each new trend, opportunity, or star candidate that is presented within the life science space.
M&A Breaks Records, Big Pharma Leads Layoffs
2026 hits 57 acquisitions, surpassing all of last year. argenx makes its first-ever acquisition ($2.2B) and Vertex lands Crinetics for ~$10B. Layoffs shift from small biotech to large pharma — Genentech, Novartis, Amgen all announce cuts. Natalia and Becca tie the knot at SF City Hall!
Historic M&A Run, Speed & Strategy Separate Top Hirers
33 acquisitions over $1B in just six months — on pace for the strongest dealmaking year since 2019. AbbVie ($10.9B) and GSK ($10.6B) lead the charge. June saw the highest layoff count in recent months with 8 announcements. Brandon completes the Leadville Heavy Half, Natalia moves back to San Francisco.
Strong Momentum, Shrinking Candidate Pool
Layoffs stayed surprisingly quiet. The pool of "unwillingly available" talent is shrinking — competition for top candidates is back, and companies must compete on speed, growth stories, flexibility, and compensation. Plus: Angelini ($4.1B), Bayer ($2.45B), UCB ($2.2B) M&A deals and AVEO Oncology joins the Tribe.
Candidate Power Returns — Speed Is Now the Competitive Advantage
The market feels noticeably different: more roles, more urgency, and candidates juggling multiple offers. 12 M&A deals in 30 days. Only 2 workforce reductions — numbers not seen since the newsletter began. Acelot and BlossomHill Therapeutics join the Tribe.
Momentum Returns — M&A Picks Up, Biotech Starts to Defrost
After a slow start to the year, biotech is finally moving. Five major acquisitions including GSK→RAPT, Merck→Terns, Gilead→Ouro. 12 layoff announcements but notably slower pace. Fractional CMO at $600/hr. Q32 Bio joins the Tribe.
Pipelines in Motion — Specialized Talent in High Demand
February is the month of love — and everyone's searching for "the one." Gilead acquires Arcellx for ~$7.8B. Layoff trend moderating with only 6 announcements. 100% repeat business in 2025. ORIC Pharmaceuticals and Summit Therapeutics join the Tribe.
The 2026 Hiring Cycle Has Already Started
Teams that waited for a clean January reset found themselves competing for the same senior leaders as everyone else. Smaller strategic M&A from GSK and Eli Lilly. Heavy emphasis on de-risking timelines — start hiring early. Immunome and Cellphire join the Tribe.