San Diego

San Diego anchors one of the nation's most concentrated biotech and defense technology clusters, ranking third nationally in life sciences behind Boston and the Bay Area, with local strategics like Illumina, Qualcomm, Neurocrine, and General Atomics creating same-city buyer density unmatched outside those two markets. The region completed over $26 billion in biotech sell-side M&A in the past twelve months alone, driven by pharma giants acquiring San Diego-based platforms in oncology, rare disease, and gene editing. San Diego's parallel strength in wireless, semiconductors, and defense technology - anchored by Qualcomm and a fast-growing defense-tech cluster including Shield AI - creates a second major deal engine distinct from its biotech base. 

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