H1 2024 Life Sciences Update Market Summaries

Vancouver

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Market Summary

Public & Private Funding (2024 1H)

14.2K Total Life Sciences Employment 103.4% Life Sciences Employment 10-Year Growth Rate Fast Lab Stats

• British Columbia is home to more than 300 life sciences companies, including biopharmaceutical and medical device companies. Vancouver’s life sciences industry is underpinned by a highly skilled workforce, prime location and high quality of life. • The new St. Paul’s Hospital development in the core market of Mt. Pleasant spurred significant interest in the surrounding neighborhood from some of the most notable life sciences companies in the country, including AbCellera, Zymeworks, Aurina Pharmaceutical and STEMCELL Technologies. • The Vancouver life sciences industry is further strengthened by government incentives and infrastructure inclusive of grants and tax incentives, along with the BC Cancer Agency, BC Centre for Excellence in HIV/AIDS, AdMare, TRIUMF Vancouver Coastal Research Institute, Michael Smith Laboratories, Genome BC and the BC Knowledge Development Fund. • The province recently launched the B.C. Life Sciences and Biomanufacturing Strategy to provide companies opportunities to grow and create jobs, while also advancing health and pandemic preparedness. It will position British Columbia as a global hub for life sciences and biomanufacturing and as a leading center for commercial-scale biopharmaceutical and medical manufacturing. • The National Biomanufacturing Training Centre (NBTC) completed construction on its biomanufacturing training center aimed at expanding the province’s capacity for clinical trials and keeping more companies and their intellectual property local.

Company

Deal Type

Completed

VC Round

$ Raised (MM)

Notch Therapeutics

Early Stage VC

Jun 2024

3rd Round

$15.5

Augurex

Accelerator/Incubator

Mar 2024

$5.0

HTuO

Seed Round

May 2024

3rd Round

$0.9

ARC Medical (Therapeutic Devices) Later Stage VC

Jun 2024

4th Round

$0.7

Naegis

Angel (individual)

Apr 2024

Angel

$0.4

Healthspan

Angel (individual)

Jun 2024

Angel

$0.2

Catalera

Early Stage VC

May 2024

1st Round

DiaGen AI

Early Stage VC

Jan 2024

1st Round

Evolved Therapeutics

Early Stage VC

Jan 2024

1st Round

ViewsML

Seed Round

Jun 2024

2nd Round

Representative Lease Transactions (2024 1H)

Representative Life Sciences Companies

Life Sciences Labor: Average Monthly Job Postings

Company

Type

Company

Address

Size (SF) New/Renewal

Type

Quarter Landlord Q2 Westbank

100 120 140 160

Stemcell Technologies

Admare BioInnovations 110 East 5th Avenue

29,800 New

Headlease Headlease

HQ, Lab HQ, Lab

AbCellera Zymeworks

Skybox Labs Inc

2025 Willingdon Avenue

21,941 Renewal

Q1

BentallGreenOak

HQ HQ

Xenon Pharmaceuticals Inc Medipure Pharmaceuticals Inc

- 20 40 60 80

HQ, Lab

HQ HQ HQ

Symvivo Inc

Chinook Therapeutics

Anandia Laboratories Inc

Amgen

Research Facility

2020 2021

2022 2023 2024

Masimo Corp (2024 Occupancy)

Research Facility, Lab

$18M University of British Columbia $8M Oasis Diagnostics Corporation $5M Provincial Health Services Authority Top NIH-Funded Institutions (2020-2024 1H)

Bio Degree-Awarding Institutions, Metro Area • British Columbia Institute of Technology • Camosum College • Langara College (Health Science Program) • Simon Fraser University • University of British Columbia (School of Biomedical Engineering, Biological Sciences Centre) • University of Victoria

Annual Life Sciences Degree Completions 2011 1,311 2021 1,740 Up 33%

Svetlana Lebedeva svetlana.lebedeva@ca.cushwake.com Research Contributors

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

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 FEBRUARY