H1 2024 Life Sciences Update Market Summaries

Houston

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Market Summary

Public & Private Funding (2024 1H)

Fast Lab Stats

• With a high concentration of employment, entrepreneurial drive and an active investment community, the Houston region is fertile ground for innovation in biotech and life sciences. • Houston is home to the world’s largest medical complex, the Texas Medical Center, which plays a pivotal role in positioning the region at the forefront of the biotech and life sciences sectors. More than 60 institutions operate within the 50-msf Texas Medical Center, serving as a catalyst for Houston’s collaborative ecosystem and setting the stage for groundbreaking research by providing direct access to nearly 5,000 active clinical trials. • Recent real estate investments further supporting Houston’s life sciences research and development include TMC’s Helix Park and industry research hub Dynamic One. In the Medical District, Hines’ Levit Green is now leasing over 200,000 sfof lab and office space as part of its future 53-acre district. On the northeast side of the Houston Market, McCord Development’s master-planned Generation Park recently broke ground on a new Center for Biotechnology. In The Woodlands, Alexandria Real Estate is planning to develop 8800 Technology Forest Place into 325,000 sf of Class A space, a portion of which is already under construction.

Company

Deal Type

Completed

VC Round

$ Raised (MM)

Fast Lab Stats

5.1 MSF Total Inventory 200,000 SF Under Construction 1.3 MSF Proposed 26.2K Total Life Sciences Employment 72.9% Life Sciences Employment 10-Year Growth Rate

Procyrion

Later Stage VC

Feb 2024

6th Round

$57.7

ImmunoGenesis

Later Stage VC

Apr 2024

1st Round

$44.4

VenoStent

Later Stage VC

Jun 2024

3rd Round

$20.0

CoRegen

Later Stage VC

Feb 2024

2nd Round

$14.5

PranaX

Early Stage VC

Jan 2024

2nd Round

$10.0

Othram

Later Stage VC

Feb 2024

4th Round

$6.6

7 Hills Pharma

Grant

Jun 2024

$4.7

VenoStent

Grant

Jun 2024

$3.6

Future Cardia

Equity Crowdfunding

Jun 2024

$3.5

Bectas Therapeutics

Grant

May 2024

$2.8

Representative Life Sciences Companies

Life Sciences Labor: Average Monthly Job Postings

Representative Lease Transactions (2024 1H) Company Address

Size (SF)

New/Renewal

Type

Quarter Landlord

Company

Type

1,000 1,200 1,400 1,600

Lonza Biologics

Regional Office Regional Office

Life Science Life Science

Q4 2023

Texas Medical Center

Houston Methodist

TMC Helix Park/1840 Dynamic Way 75,800 New

Alcon Manufacturing The US Oncology BlueBonnet Nutrition Merit Medical Systems

HQ HQ HQ HQ HQ HQ

Q4 2023 Hines

Sino Biological, Inc.

Levit Green/3131 Holcombe Blvd.

10,000 New

- 200 400 600 800

Millar Instruments

Cellipont Bioservices

Biotics Research Corporation The National Space Biomedical Research Institute

2020 2021

2022

2023

2024

HQ

Hires Unique Postings

Marker Therapeutics

HQ

$1.5B Baylor College of Medicine $804M University of Texas MD Anderson Cancer Center $629M University of Texas Health Science Center Houston Top NIH-Funded Institutions (2020-2024 1H)

Bio Degree-Awarding Institutions, Metro Area • University of Texas MD Anderson School of Health Professionals • Rice University • University of Houston • Texas Southern University • Houston Christian University • University of St. Thomas

Annual Life Sciences Degree Completions 2013 3,096 2023 4,419 Up 43%

Sherra Gilbert sherra.gilbert@cushwake.com Research Contributors

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

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 FEBRUARY