H1 2024 Life Sciences Update Market Summaries

Montreal

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Market Summary

Public & Private Funding (2024 1H)

• Montreal is the leading Canadian life sciences research and development hub for patents and R&D expenditures, with 1,487 life sciences and health technologies (LSHT) companies and 171 research centers. • Montreal has a large talent pool, thanks to 15 university-level institutions and three engineering schools. • The region’s life sciences industry is highly diversified and boasts an active venture capital investor pool. • Organizations range from traditional pharmaceuticals and biopharmaceuticals, diagnostics, health technologies, AI research, medical device research and manufacturing. • Montreal features some of the lowest research and operational costs in North America, due in part to substantial provincial tax credits, including a 29% tax credit for scientific research and experimental development. • The area’s support infrastructure facilitates companies through all phases of development, from basic research to commercialization.

Company

Deal Type

Completed

VC Round 1st Round

$ Raised (MM)

21.9K Total Life Sciences Fast Lab Stats

Morphocell Technologies

Later Stage VC

Apr 2024

$40.0

Aplantex

Later Stage VC

Feb 2024

2nd Round

$3.3

Employment 33.5% Life Sciences Employment 10-Year Growth Rate

Miha Biotech

Accelerator/Incubator

Mar 2024

$0.01

Miha Biotech

Accelerator/Incubator

Apr 2024

$0.01

Thryv Therapeutics

Later Stage VC

Mar 2024

3rd Round

Representative Lease Transactions (Q3 2023- Q2 2024)

Company

Address

Size (SF) New/Renewal

Type

Quarter Landlord

9200 Henri-Bourassa Boulevard East

McKesson Canada

400,000 New

Wholesale Trade Q4 2023 Loracon Construction

Representative Life Sciences Companies

Life Sciences Labor: Average Monthly Job Postings

Roche Diagnostics

201 Armand-Frappier Boulevard

122,676 New

Manufacturing

Q4 2023 Alexandria Real Estate Equities

Company

Type

100 120 140 160

Bausch Health Companies Novartis Pharma Canada Pharmascience Inc Abbott Laboratories Merck Canada Inc Pfizer Canada SRI Sandoz Canada Inc Confab Laboratories Inc

International HQ

Liebel-Flarsheim Canada 18101 Transcanada Highway

102,038 New

Manufacturing

Q2 2024 Rosefellow

Canadian HQ

BioScript Pharmacy Ltd.

3300 Jean-Noel-Lavoie Highway

7,694 New

Retail Trade

Q3 2023 Desjardins

International HQ

Canadian HQ Canadian HQ Canadian HQ Canadian HQ

- 20 40 60 80

International HQ Research Facility

AbbVie

Bristol-Myers Squibb

Canadian HQ

Charles River Laboratories

Contract Research Org.

2020 2021

2022 2023 2024

McKesson Canada

Canadian HQ

Altasciences

Contract Research Org.

Bio Degree-Awarding Institutions, Metro Area • McGill University • University of Montreal (UdM) • University of Quebec in Montreal (UQÀM) • Concordia University • Polytechnic School of Montreal • HEC Montreal • School of Higher

Annual Life Sciences Degree Completions

$12M McGill University $4M University of Montreal Hospital $3M McGill University Health Ctr Res Inst Top NIH-Funded Institutions (2020-2024 1H)

2011 1,704 2021 2,420 Up 42%

Research Contributors Niko Tzakis nikolaos.tzakis@cushwake.com

Technology - University of Quebec

Sources: Cushman & Wakefield Research, CoStar, National Institutes of Health (NIH), Lightcast, Pitchbook

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 FEBRUARY