H1 2024 Life Sciences Update Market Summaries

Belgium

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Market Summary

Public & Private Funding (2024 H1)

Fast Lab Stats

• The Belgian market has suffered a slowing in activity and an increase in yields in the past 12-18 months, however, the market has shown signs of stabilisation in 2024 due to several significant deals. In the life sciences sector, interest from investors has been robust, but supply and activity remain muted. Values have proven more resilient than other sectors. • Belgium has an internationally recognized life sciences industry that has long played a prominent role in the national economy. It is the second most-important exporting country for chemicals and pharmaceuticals in the European Union, with a share of 14%. The sector has seen robust growth over the past two decades due to its highly skilled and multilingual population. This growth was further stimulated after the pandemic, and this led to a significant rise in awareness and attention to the industry—both from funding and investments, and from an educational perspective. • As the industry continues to grow due to rising interest, the supply of adequate infrastructure must follow. Today, there is a clear lack of real estate suited to accommodate the occupational demand. The country's three regions share the same vision and are working together with the private sector to reduce this gap and ensure Belgium maintains its position as a leader in life sciences. As a result, we observe an increasing number of real estate players seeking to develop and invest in this asset class.

€ Raised (MM)

Company

Deal Type

Completed

Deal Type

317.4K Total Life Sciences Employment 1,000 Life Science Companies 63 Research facilities/ institutes

Augustine Therapeutics

Later Stage VC

Jun 2024

3rd Round

€ 18.3

Exo Biologics

Later Stage VC

Apr 2024

2nd Round

€ 17.2

AmphiStar

Early Stage VC

Apr 2024

1st Round

€ 6.5

ElmediX

Later Stage VC

Jun 2024

3rd Round

€ 5.4

Bio-Sourcing

Grant

May 2024

€ 2.1

Confo Therapeutics

Grant

Mar 2024

€ 1.7

B3et

Accelerator/Incubator

Jan 2024

€ 0.3

B3et

Grant

Mar 2024

€ 0.0

Representative Investment Sale Transactions (Q3 2022 – Q2 2023)

Address

Type

Volume (€m)

GLA (sqm)

Date Buyer

Representative Life Sciences Companies

Life Sciences Labor: Employment in the pharmaceutical industry

Intarsia Vastgoed @ Arenberg Science Park

Lab / Office

12

5,500 Q3 2022 AXA Group

Company

Type

44,000

Lab / Office

60

4,800 Q3 2022 TPG Real Estate

Pfizer

Biotechnology, Pharma

Bio-Accelerator

Sanofi

Pharma

42,000

Novartis

Pharma

40,000

Gilead

Pharma

38,000

Representative Lease Transactions (2023)

Takeda

Pharma

36,000

Company

Address

GLA (sqm) New/Renewal

Type

Quarter

Landlord

Johnson & Johnson

Pharma, Medical devices

EG nv/sa

2,109 New letting

Office

Q1 2023 N/A

Temselaan 102

34,000

GSK

Biotechnology, Pharma

Qaelum

501 New letting

Office

Q1 2023 N/A

Kolonel Begaultlaan 1

32,000

2018 2019 2020 2021

2022

Bodyfit Pilates

335 New letting

Office

Q2 2023 N/A

Bellevue 5

Perrigo

2501 New letting

Office

Q2 2023 N/A

Gaston Crommenlaan 4-14

Bio Degree-Awarding Institutions, Metro Area

• KU Leuven • Ghent University

• Universite Catholique Louvain • Universite Libre de Bruxelles • University of Liege • Vrije Universiteit Brussel • University of Antwerp

Contributor Andy Lemmens Andy.lemmens@cushwake.com

Sources: Cushman & Wakefield Research, CoStar, Pitchbook, EFPIA

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 SEPTEMBER