H1 2024 Life Sciences Update Market Summaries

France: Paris

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Market Summary

Public & Private Funding (2024 H1)

Fast Lab Stats

• The greater Paris region is the leading life sciences research and university hub in France. Until now, activity in the French life sciences sector has been confidential and led by the public sector, but it has taken on a new dynamic since the health crisis. Through the France 2030 plan, the government has mobilized 30 billion euros for the development of biotech. • Paris lacks private-sector assets that are adapted to scientific and technological research such as laboratories, research centers and incubators. According to Urban Land Institute, 60% of life sciences companies consider the lack of real estate to be the main obstacle to development in France. • Over the previous five years, Paris has attracted 1 billion euros in VC capital to the life sciences industry. Companies in biotechnology and pharma research have received a significant share of this financing. • When choosing office space in Paris, pharma businesses strongly favor the city's western suburbs. While the life sciences investment market in Paris is still small, there is strong appetite from investors and occupiers, and the market is expected to develop strongly in the next two years. International investors are increasingly considering real estate opportunities in the greater Paris region, led by AXA/Kadans and Oxford Properties/Novaxia. • The Paris region is home to five life sciences clusters: Genopole at Evry and the Cancer Campus at Villejuif to the south, Paris Biocitech in the east, Medicen Campus in the west, and Paris-Saclay to the southwest. The latter offers a unique ecosystem of universities, research centers and companies.

€ Raised (MM)

Company Bioptimus

Deal Type

Completed

Deal Type 1st Round

32.5K Total Life Sciences Employment 119% Life Sciences Employment Growth Rate

Seed Round

Feb 2024

€ 35.0

Cure51

Seed Round

Mar 2024

1st Round

€ 16.3

Milvue

Early Stage VC

Jan 2024

3rd Round

€ 6.0

Vivet Therapeutics

Grant

Feb 2024

€ 5.3

Quinten Health

Later Stage VC

Jan 2024

2nd Round

€ 2.9

Smart Immune

Later Stage VC

Jan 2024

4th Round

€ 2.8

Phagos

Accelerator/Incubator

Mar 2024

PulseSight Therapeutics

Seed Round

Feb 2024

1st Round

Representative Investment Sale Transactions (Q3 2022 – Q2 2024)

Address

Type

Volume (€m)

GLA (sqm)

Date

Buyer

Romainville

Office/Lab

c.17

33,000 Q1 2023

Novaxia Vista and Oxford Properties

Villejuif

Office/Lab

NC

25,000 Q4 2022 Kadans Science Partner

Representative Life Sciences Companies

Life Sciences Labor: Annual Chemist Job Postings

Company

Type

12,000

Representative Lease Transactions (Q1 2023 – Q2 2023)

Sanofi Ipsen

International HQ International HQ

10,000

Company

Address

GLA (sqm) New/Renewal

Type

Quarter

Landlord

Solabia

17 Place Des Reflets

1,143 Renovated

Office

Q2 2024

8,000

Laboratoires Roche French HQ Abbvie French HQ Amgen French HQ Bristol-Myers Squibb French HQ Merck French HQ Pfizer French HQ Pierre Fabre Boehringer Ingelheim French HQ • Université Paris-Saclay • PSL (Paris Siciences et Lettres) • Sorbonne • AgroParis Tech • Sup Biotech • EBI (Ecole de Biologie Insdustrielle) • HEC • ESSEC • Polytechnique • Insead Bio Degree-Awarding Institutions, Metro Area

Syneos Health

38 Avenue Ariste Briand

1,143 Renovated

Office

Q2 2024 AG Real Estate

6,000

Abivax

7-11 Boulevard Haussmann

831 Recent/Sublease Office

Q2 2024 Workday

4,000

Daiichi Sankyo

8-10 Rue Henri Sainte-Claire Deville

2,500 New

Office

Q1 2024 Sienna IM

2,000

BASF

176 Rue Montmartre

2,356 Refubished

Office

Q1 2024 Oreima

International HQ

Ipsen

70 Rue Balard

8,797 Refubished

Office

Q4 2023

CNP (DTZ AM)

-

2019 2020 2021

2022

Inserm

1-5 Rue Jeanne D'Arc

1655 Refurbished

Office

Q4 2023

Icade

Amgen

25 Quai du President Paul Doumer

2290 Refurbished

Office Office

Q3 2023 Q4 2023

Hines

70 rue Balard

10,000 Refurbished

DTZ Investors

Ipsen

Contributor Nicolas Carre Nicolas.carre@cushwake.com

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

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 SEPTEMBER