Form CRS Customer Relationship Summary


LifeSci Capital LLC (“LifeSci,” “LSC” or the “Firm”) is a broker-dealer registered with the United States Securities and Exchange Commission (“SEC”) and in 11 states, a member of the Financial Regulatory Authority (“FINRA”) and of the Securities Investor Protection Corporation (“SIPC”). LifeSci Capital LLC is not a registered investment adviser and does not offer investment advisory services. The Firm is an investment bank focused on life sciences issuers and institutional life sciences investors and engages in equity research, investment banking services, and public and private (exempt) securities offerings. As explained below, from time to time a small number of retail customers may invest in specific public and private (exempt) offerings through the firm.

Free and simple tools are available to research firms and professionals at: , which also provides educational materials about broker-dealers, investment advisers and investing.

What investment services and advice can you provide me?

Description of Services:

LSC primarily focuses on issuers and institutional customers, not retail customers. From time to time, LifeSci’s business model LSC may contact retail customers to participate in a specific private (exempt) or public securities offering. Typically, these individual retail customers are referred to LifeSci by the issuer or institutional investors during a specific offering. The Firm does not: otherwise conduct a retail customer business; maintain, carry or introduce customer accounts; hold funds or securities for customers, or recommend or solicit securities transactions to retail customers, except as described above. LifeSci does not accept discretionary authority or offer investment monitoring. Retail customers or their other advisors make the ultimate decision whether to invest in specific offerings.

Additional Information

For additional information, please see the specific offering documents or contact your LifeSci representative.

Conversation Starters

Given my financial situation, should I choose a brokerage account?
Why or why not? How will you choose investments to recommend to me? What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?

What fees will I pay?

Investors in public or private offerings typically do not pay any fees or commissions directly to the Firm. These are usually paid to the Firm by the issuer from the offering proceeds. The Firm may receive other fees, expense reimbursements or other forms of compensation (e.g., underwriting or placement agent fees) from issuers in connection with a specific offering at the time of closing of the investment or on a periodic basis. Depending on the specific offering, you may indirectly pay fees, expenses, and other forms of compensation to LifeSci. All material services, fees, expenses or any other form of compensation, and conflicts of interest, will be disclosed at or before the offering and in any applicable offering documents.

You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.

For additional information, please see the specific offering documents or contact your LifeSci representative.

Conversation Starters

Help me understand how these fees and costs might affect my investments.
"If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me.”

What are your legal obligations to me when providing recommendations? How else does your firm make money and what conflicts of interest do you have?

When we provide you with a recommendation, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they affect the recommendations we provide you. Here are some examples to help you understand what this means.

The Firm may contact retail customers referred by our issuer clients or institutional investors with respect to specific offerings. As discussed above, the Firm may receive fees, expenses and other forms of compensation with respect to these specific offerings from the issuer, all of which will be disclosed in offering documents. These fees, expenses and other forms of compensation are paid by the issuer, and, indirectly, by investors in the issuer and may reduce an investor’s return on its investment in the offering.

The Firm may recommend offerings of securities of issuers that LifeSci publishes research on. This may create a conflict of interest in recommendations made to investors. These conflicts of interest, and others, are disclosed in individual research reports. The Firm will only make recommendations that are in each retail investor’s best interest and otherwise suitable to each investor. For additional information, please see the specific offering documents or contact your LifeSci representative.

Conversation Starters

How might your conflicts of interest affect me, and how will you address them?

Additional Information

For additional information about our services, please visit our website or contact your LifeSci associated person. If you would like additional up-to-date information or a copy of this disclosure please contact

Conversation Starters

"Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who can I talk to if l have concerns about how this person is treating me?”