Built for the Journey: How Western Alliance Bank Builds Long-Term Banking Relationships in Life Sciences

When a medical device company experiences remarkable revenue growth and expands nationally in just two years, it’s more than a business success story—it represents life-changing innovation that transforms standards of care and delivers breakthrough solutions to countless individuals. This example of success demonstrates what's possible when life sciences companies partner with a banking team that has offered continuity and specialized expertise for over a decade: sustainable growth fueled by strategic banking tailored to scientific timelines, industry-specific milestones, and the unpredictable journey from innovative potential into reality.

In the life sciences industry, companies face a unique journey from lab to market. The path demands a banking partner with deep industry expertise, a long-term commitment to relationships, and the flexibility to adapt to the unpredictable nature of scientific development.

Western Alliance Bank’s Innovation Banking Group and its experienced bankers have been helping innovation companies grow from startup to exit — and every stage in between — for more than 20 years. Western Alliance Bank has nationwide reach in the innovation market and is one of the country’s top-performing financial institutions with more than $80 billion in assets.

The Life Sciences Team, part of Western Alliance Bank's Innovation Banking Group, has been operating continuously for over a decade, providing stability, expertise and tailored financial solutions1 to life sciences companies at every stage of growth, helping them weather regulatory complexity, changing markets and the unpredictable road to growth.

Here’s how experienced banking partnerships create value beyond traditional lending and why industry-specific expertise matters in navigating the complex life sciences landscape:

Deep sector expertise leads to better outcomes in life sciences

Life sciences companies often experience financial challenges that most banks aren’t familiar with. When working with non-specialized lenders, life sciences company executives might struggle with rigid financing structures that don't consider scientific setbacks, regulatory timelines or the unpredictable development path of breakthrough innovations.

"It's a very complex and non-linear process to develop a drug or device, especially as market conditions change and scale,” says Bill Wickline co-founder of Western Alliance Bank's Life Sciences Team, emphasizing the value of choosing a banking partner with deep sector experience. A misalignment between the company and its banking partner can hinder research progress, lead to premature commercialization decisions, or necessitate dilutive equity raises when debt solutions would be more appropriate.

Established in 2015, Western Alliance Bank’s Life Sciences Team is one of the longest continuously operating specialized banking teams in the industry. Its bankers average over 10 years of experience and come from diverse institutional backgrounds. This breadth of experience equips the team with a deep understanding of the various approval processes, clinical development timelines, and commercialization challenges that shape life sciences companies' financial needs.

Tailored solutions built for any stage

Life sciences companies often face a challenging dilemma when pursuing banking relationships: non-specialized lenders may have trouble comprehending the nuances of scientific development cycles, while specialized financial providers may offer expertise but lack comprehensive banking capabilities. As a result, companies may be forced to juggle multiple banking relationships or accept compromises that hinder their growth trajectory.

Western Alliance Bank understands the financial needs of life sciences companies at various stages of growth, avoiding a one-size-fits-all approach that can stifle innovation. This deep understanding extends beyond structuring transactions. By combining industry-specific expertise with a comprehensive range of banking services, Western Alliance is able to support life sciences companies from their first checking account through acquisition.

“Less than a year into our relationship, we uncovered a new and compelling market opportunity that required a strategic shift,” explains CEO & Co-Founder of Dimension Bio, Caralynn Nowinski Collens. “The Life Sciences Team at Western Alliance immediately understood the pivot and worked with us to realign our financing milestones. Their support enabled us to move quickly and confidently, adding meaningful enterprise value without missing a beat.”

Early-stage life sciences companies benefit from milestone-based funding that accommodates timeline shifts, while those in later growth stages receive working capital solutions to extend their runway and foster continued growth. This comprehensive approach means clients can access everything from startup banking and venture debt to foreign exchange and business escrow services through a single relationship. The result is a banking partnership that grows alongside the company, eliminating the need to establish new banking relationships at each development stage.

Experienced lenders become true partners

When partnering with non-specialized financial institutions, life sciences companies may experience disruptions: relationship managers come and go, the company is reassigned to a new banking team based on its evolving needs. These things result in the loss of institutional knowledge during transitions. These changes force executives to educate new banking contacts about their company's unique science, development timeline and strategic objectives. The constant re-establishment of relationships wastes valuable time and creates unnecessary friction during critical growth phases.

Western Alliance has a fundamentally different approach, assigning dedicated relationship managers who remain with clients throughout their entire journey. This continuity ensures that clients always work with someone who has a deep understanding of their business model, scientific approach and growth trajectory. The relationship manager acts as both an advocate and an advisor, guiding clients through financing decisions with the full context of their company's history and objectives.

"Other financial institutions often have an initial underwriting team and an ongoing management team, which can lead to handoffs halfway through the process,” says Wickline. “It can feel more transactional when the team that initially brought you in is no longer your point of contact, and someone with no understanding of your business inherits the banking relationship you’ve been building together."

A relationship-centered banking model delivers meaningful advantages that extend far beyond transactions. Deep personal connections foster trust and facilitate faster decision-making, especially during critical moments such as strategic pivots or unexpected regulatory feedback. In an industry marked by unpredictability and frequent complex decisions, having a consistent, trusted banking partner who truly understands both the science and the business can provide a significant competitive advantage.

Beyond lending: Resources to achieve growth

Life sciences executives can often find themselves feeling isolated within siloed networks, lacking essential connections to investors, partners, and industry resources. Traditionally, banking relationships do not extend beyond financial transactions, leaving companies to navigate the complex landscape of industry relationships on their own. In contrast, Western Alliance Bank begins its work before a company becomes a client and often continues long after a loan is repaid. The bank facilitates connections between investors, consultants and peers, by hosting networking dinners at industry events and conferences, as well as smaller, curated retreats designed for authentic engagement and connection.

Wickline elaborates: "It's not just about putting CFOs in the room together. We bring together investors, bank executives, and others throughout the life sciences and innovation ecosystem. These events encourage cross-pollination amongst guests who might not have the opportunity to connect otherwise.”

“With Western Alliance Bank, there’s a clear intent to grow with us and solve problems creatively—very different from the transactional approach we’ve encountered with other banks,” says Chief Financial Officer of Alafair Biosciences, Inc., Bhushan Holay. “They’ve made helpful introductions and connected us with industry events relevant to our space. It’s a nice value-add that goes beyond core banking services. It helps keep us plugged into the broader life sciences ecosystem.”

These connections yield tangible results for the life sciences and innovation ecosystem. Wickline notes, “I’ve heard about investors meeting at our Innovation Banking Group events, and later I find out they are co-investing in deals together. Management teams are connecting with investors they otherwise wouldn't have encountered. It truly makes a difference.” From making supplier introductions to helping CFOs find their next key hire, Western Alliance Bank serves as that strategic connector to enhance their clients' ability to achieve their scientific and business milestones.

A partner for every stage

When a life sciences company reaches a key milestone—whether it’s a clinical breakthrough, a market expansion or a strategic acquisition—it’s not the result of capital alone. It’s the outcome of careful planning, flexible support and partners who understand the stakes behind every scientific advance. That’s the kind of partnership Western Alliance builds.

With nearly a decade of continuous focus in life sciences and institutional strength, Western Alliance Bank is more than a lender. They are a consistent, strategic partner attuned to the specific pressures, timelines and ambitions that define this industry. From the first funding conversation to the final phase of growth, they’re committed to supporting life sciences companies through every turn in the journey.

Learn how Western Alliance Bank can help your life sciences company.