H1 2024 Life Sciences Update Market Summaries

Phoenix

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Market Summary

Public & Private Funding (2024 1H)

Fast Lab Stats

• Arizona remains focused on building its burgeoning life sciences industries with several key initiatives, including AZAdvances, an initiative of the Opportunity Through Entrepreneurship Foundation, and The Arizona Health Innovation Trust Fund, an endowment administered by the Office of the Arizona State Treasurer. • The Phoenix City Council recently approved zoning changes to allow the construction of Mayo Clinic Arizona’s new 240-acre biotech innovation hub near their existing campus in north Phoenix. This addition will increase Mayo Clinic's clinical practice, research, education and advanced manufacturing facilities. • In January 2024, the Phoenix City Council updated the development plan for the Phoenix Bioscience Core, a 30-acre life sciences cluster in the heart of downtown Phoenix. The city will also join the Arizona Board of Regents to update the comprehensive master development plan for Arizona’s three public research universities. • In June 2024, the Phoenix City Council unanimously approved more than $20 million in funding for The University of Arizona Health Sciences Center for Advanced Molecular and Immunological Therapies (CAMI). The facility will be a seven-story, 200,000 square foot biomedical research hub developed within the Phoenix Bioscience Core in downtown Phoenix.

Company

Deal Type

Completed

VC Round

$ Raised (MM)

772K SF Total Inventory 0 Under Construction 600K SF Proposed 9.2K Total Life Sciences

Nectero Medical

Later Stage VC

May 2024

4th Round

$96.0

RxMapper

Seed Round

Jun 2024

1st Round

$9.9

CND Life Sciences

Later Stage VC

Mar 2024

4th Round

$3.5

Anuncia Medical

Later Stage VC

Apr 2024

5th Round

$3.4

Axolotl Biologix

Accelerator/Incubator

Jan 2024

Employment 49.8% Life Sciences Employment 10-Year Growth Rate

Representative Life Sciences Companies

Life Sciences Labor: Average Monthly Job Postings

Company

Type

- 100 200 300 400 500 600 700 800

Sonora Quest Laboratories

HQ

Caris Life Sciences

Research Facility

TGen

HQ HQ HQ HQ HQ HQ HQ

Regenesis Biomedical Systems Oncology

Exact Sciences

Research Facility

VisionGate

Vidium Animal Health

2020 2021

2022 2023 2024

INanoBio

Hires Unique Postings

Calviri

$261M Arizona State University - Tempe $78M Mayo Clinic Arizona $65M St. Joseph's Hospital and Medical Center Top NIH-Funded Institutions (2020-2024 1H)

Bio Degree-Awarding Institutions, Metro Area • Arizona State University • University of Arizona • Northern Arizona University • Grand Canyon University • Phoenix College • Maricopa Community College

Annual Life Sciences Degree Completions 2013 1,980 2023 3,976 Up 101%

Jared Lewis jared.lewis@cushwake.com Research Contributors

Sources: Cushman & Wakefield Research, CoStar, National Institutes of Health (NIH), Flinn Foundation, AZ Big Media, Phoenix Bioscience Core, GPEC, Lightcast, Pitchbook

Jeff Cooledge jeffrey.cooledge@cushwake.com

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 FEBRUARY