Biotech companies in San Diego: 454 labs and plants, and who spends the most on R&D

San Diego biotech is mostly small labs spending investors' money on research, with a handful of commercial companies at the top. If you want a job, a partner or a customer here, the R&D budget in a company's 10-K tells you more than its revenue.

Market report6 min readPublished

The San Diego metro had 454 biotech establishments in 2023, employing 21,656 people at an average of $180,590 a year (Census County Business Patterns, NAICS 541714 and 325414). Of those, 437 are research labs. SEC EDGAR lists 63 public biotech and drug companies with a San Diego County address. Neurocrine Biosciences spent the most on R&D in 2025 ($1.02 billion), followed by Ionis ($915.6 million), according to their 10-Ks.

  • 437 of the 454 establishments are biotech R&D labs; only 17 make biological products.
  • 227 of the 437 labs have fewer than five employees, and three have 1,000 or more.
  • Eight listed companies spent over $100 million on R&D in 2025 while reporting under $100 million of revenue.
  • NIH awarded $1.04 billion to San Diego organizations in fiscal 2025; 86% went to La Jolla addresses.
  • Most clinical-stage biotechs don't appear in FDA's registration files, because investigational manufacturing doesn't require registration.
On this page

This report is for people deciding which San Diego biotechs to apply to, invest in, partner with or sell to. It counts the industry three ways (Census establishments, SEC-listed companies and federal research awards) and then shows how to shortlist. The Census metro is all of San Diego County, from Chula Vista to Carlsbad and Oceanside.

How many biotech companies are in San Diego

County Business Patterns (CBP) 2023, San Diego-Chula Vista-Carlsbad, CA Metro Area (CBSA 41740), NAICS 541714 and 325414 combined:

MeasureSan Diego metro
Establishments454
Employees21,656
Annual payroll$3,910,849,000
Employees per establishment47.7
Average annual pay$180,590
Share of US establishments in these codes7.45% of 6,095

The two codes split very unevenly. Research and development in biotechnology (541714) has 437 establishments and 20,270 employees; biological product manufacturing (325414) has 17 establishments and 1,386 employees. San Diego is a research cluster first.

CBP counts establishments with paid employees, not companies: a biotech with two buildings counts twice, and founders with no payroll aren't counted at all.

Most labs are tiny

The combined size table is mostly withheld, because the Census Bureau doesn't publish most size classes for the 17 manufacturing sites. In the combined file, 232 establishments have 1 to 4 employees and 35 have 50 to 99; the other classes are not published. The R&D code on its own is published in full:

Employees per R&D establishment (541714)Establishments
1 to 4227
5 to 956
10 to 1947
20 to 4941
50 to 9930
100 to 24917
250 to 49914
500 to 9992 (derived)
1,000 or more3

The Census file marks the 500 to 999 cell as not published; 2 is the total less the published classes. More than half the labs have fewer than five people, which matches a market of seed-stage startups, virtual biotechs run by a few executives, and incubator tenants.

What the two codes leave out

NAICS 541714 and 325414 capture biotech labs and biologics plants, but the Census Bureau's own cross-references send related work elsewhere:

  • Drug discovery labs coded as other life-sciences R&D (541715), which is where many small-molecule companies land.
  • Pharmaceutical preparation plants (325412) and diagnostic substance makers (325413).
  • Testing labs and CROs coded 541380, and clinical labs coded 621511.
  • Head offices, which are classed by function rather than industry, so a commercial biotech's corporate headquarters may not be in either code.

So treat 454 as the core of the industry, not all of it. Biocom California's 2026 Economic Impact Report, which uses a broad life-sciences definition, counts 61,866 direct life-science jobs in San Diego in 2025.

The biggest R&D budgets among listed companies

SEC EDGAR has 63 listed companies with a San Diego County business address in SIC 2836 (biological products, 17 companies) and 2834 (pharmaceutical preparations, 46); none are in 8731. Ranked by research and development expense in their latest 10-K, all for calendar 2025:

CompanyHQ (10-K cover)R&D expenseRevenueCash and short-term investments, 31 Dec 2025
Neurocrine BiosciencesSan Diego$1,015.7M$2,860.5M$1,480.4M
Ionis PharmaceuticalsCarlsbad$915.6M$943.7M$2,677.5M
Viking TherapeuticsSan Diego$345.0M$0$705.7M
Acadia PharmaceuticalsSan Diego$328.8M$1,071.5M$819.7M
Kura OncologySan Diego$251.1M$67.5M$667.2M
Travere TherapeuticsSan Diego$206.0M$490.7M$238.4M
Gossamer BioSan Diego$174.1M$48.5M$136.9M
Janux TherapeuticsSan Diego$125.9M$10.0M$966.5M
Inhibrx BiosciencesLa Jolla$113.0M$1.3M$124.2M (cash only)
Arcturus TherapeuticsSan Diego$112.2M$82.0M$230.9M (cash only)
Fate TherapeuticsSan Diego$107.8M$6.6M$203.6M
Zentalis PharmaceuticalsSan Diego$107.3M$0$245.9M

R&D and revenue as tagged in each 10-K's financial statements. The cash column is our sum of the balance-sheet lines for cash and cash equivalents and short-term investments.

Halozyme Therapeutics has the second-largest revenue in the county ($1,396.6 million) but spent $81.5 million on R&D, because most of its income is royalties. Ligand Pharmaceuticals still has a San Diego address in EDGAR, but its 10-K cover gives Jupiter, Florida, so it's left out.

The table is a hiring and spending map. Viking, Janux and Kura hold large cash balances with little revenue, so their spending is set by the board's trial plans rather than by sales. Companies with under two years of cash at their current R&D rate tend to cut programs first and buy less.

Where the research money comes from

NIH RePORTER shows $1.04 billion of NIH awards in fiscal 2025 (October 2024 to September 2025) to 111 organizations in San Diego County, across 1,550 projects. UC San Diego received $569.6 million, Scripps Research $164.4 million, the Salk Institute $61.0 million, Sanford Burnham Prebys $45.3 million and La Jolla Institute for Immunology $31.1 million. La Jolla addresses took 86% of the total.

For-profit companies received 117 awards worth $87.9 million, 106 of them small-business (SBIR or STTR) grants. The largest company recipients were Ensysce Biosciences ($5.3 million), Vivreon Biosciences ($4.1 million) and Novomedix ($3.3 million). RePORTER is a good way to find private startups that never appear in EDGAR.

FDA registrations: who makes biologics here

FDA's biologics registration has two parts. Blood and cell or tissue establishments register with FDA's biologics center; other biologics makers register as drug establishments. Companies that only make investigational products for trials don't have to register until approval, so most of the table above won't appear.

  • Cell and tissue (HCT/P) registry: 8 registered San Diego County establishments list blood stem cell (HPC) or peripheral blood mononuclear cell products, including Rady Children's Hospital, San Diego Blood Bank, Scripps Green Hospital and Sanguine Biosciences.
  • Drug establishment registry: registrants with manufacturing operations include Genentech and Gilead Sciences in Oceanside, and Tanvex BioPharma USA and Wacker Biotech US in San Diego.

How to check a San Diego biotech before you commit

  1. Read the latest 10-K for listed companies: cash, R&D, headcount and the trial calendar are all there.
  2. Search NIH RePORTER by organization name for grant history, including private companies.
  3. Check FDA registration if the company says it manufactures: the cell and tissue query and the drug establishment file are both public.
  4. Use the local directory. Biocom California publishes a member directory and runs the Career Hub job board.

Selling to San Diego biotechs

SegmentHow to spot itWho usually decides
Commercial companies (Neurocrine, Acadia, Ionis, Halozyme)Product or royalty revenue in the 10-KCategory owners in supply chain, quality, commercial and IT
Funded clinical-stage biotechsR&D over $100 million, little revenueHead of clinical operations or CMC, with the CFO
Small labs (227 with under five employees)CBP size class, SBIR awardsFounder or chief scientific officer
Research institutesNIH RePORTERCore facility directors and purchasing

Worked example: a preclinical CRO

Illustrative example. The company and the outsourcing share are invented; the R&D figures come from the 10-Ks above.

Kelp Bay Preclinical (kelpbay.example) runs animal pharmacology studies for drug developers.

  1. Pick accounts by budget, not revenue. Eight companies in the table spent over $100 million on R&D with under $100 million of revenue: $1,336.4 million in total.
  2. Size the opportunity. If 2% of that goes to outside preclinical studies, the pool is about $26.7 million a year. A 5% share is $1.3 million.
  3. Time the outreach. A new IND filing or a program moving into the clinic usually means new toxicology and pharmacology work; the 10-K's pipeline table shows which programs are next.

Building that list by hand means reading a dozen 10-Ks. Bebop researches each company on a list and suggests who to approach first.

For the companies that dominate national rankings, see the largest biotech companies, and for the manufacturing side of the region, the San Diego pharmaceutical market report.

Next step: compare the much larger Massachusetts cluster in biotech companies in Massachusetts.

Sources

Written by the Bebop team at Blackpearl Group. Published .

Questions people ask

How many biotech companies are in San Diego?

Census County Business Patterns counted 454 biotech establishments in the San Diego metro in 2023: 437 research and development labs and 17 biological product plants, employing 21,656 people. SEC EDGAR lists 63 public biotech and drug companies with a San Diego County address. Broader counts are higher: Biocom California reports 61,866 direct life-science jobs in the region in 2025, including devices and diagnostics.

What is the biggest biotech company in San Diego?

Neurocrine Biosciences, by both revenue and R&D. Its 10-K reports $2,860.5 million of revenue and $1,015.7 million of research and development expense for 2025. Halozyme Therapeutics ($1,396.6 million of revenue) and Acadia Pharmaceuticals ($1,071.5 million) are next by revenue, and Ionis Pharmaceuticals in Carlsbad is second by R&D at $915.6 million.

How much do biotech jobs pay in San Diego?

Biotech establishments in the San Diego metro paid $3.91 billion to 21,656 employees in 2023, an average of $180,590 a year, according to Census County Business Patterns. That average covers every job at those sites, from lab technicians to executives. Research labs paid more on average than the 17 biological product plants, by our calculation from the same data.

Which San Diego biotech companies are pre-revenue?

Among listed companies with large research budgets, Viking Therapeutics and Zentalis Pharmaceuticals reported no revenue for 2025, and Inhibrx Biosciences, Fate Therapeutics and Janux Therapeutics each reported $10 million or less, according to their 10-Ks. Viking spent $345.0 million on R&D and Janux held $966.5 million in cash and short-term investments at the end of 2025.

How much NIH funding does San Diego get?

NIH RePORTER shows $1.04 billion of NIH awards to 111 San Diego County organizations in fiscal 2025, across 1,550 projects. UC San Diego received $569.6 million and Scripps Research $164.4 million. For-profit companies received 117 awards worth $87.9 million, mostly small-business innovation grants, which makes RePORTER a useful way to find private startups.

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