H1 2024 Life Sciences Update Market Summaries

Spain: Barcelona

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Market Summary

Public & Private Funding (2024 H1)

• As with the Spanish market overall, Barcelona has seen a fall in activity and pricing over the past year, but the life sciences sector has proven to be relatively resilient. • The BioRegion is the centre of Catalonia’s life sciences and innovation ecosystem, generating 8.7% of Catalan GDP and more than 8% of employment. There are 91 research entities and infrastructures based in the region: 40 research centres, 20 university hospitals, 12 universities offering life sciences studies, three large scientific infrastructures, two technology centres and 14 science and technology parks with life sciences activities. • Catalonia’s world-renowned hospitals and universities feed its extensive talent pools. The region is ranked eighth in the world for clinical trials and fifth in Europe, with 1,242 active clinical trials currently underway. • Barcelona is a targeted location for startups and small businesses in the life sciences sector, which account for 78% of the total. This type of occupier tends to look for more flexible space, favouring coworking or short-term lab rentals in bio-incubators or parks. However, Barcelona is also an increasingly popular location among larger companies, with occupiers focusing on locations that have greater scale and potential for expansion and diversification of spaces within a particular sublocation. • Barcelona’s life sciences sector is widely anticipated to continue to expand and consolidate over the coming years. In the meantime, its current lack of private sector assets required to accommodate life sciences provides a critical window of opportunity to capture growing demand.

59.6K Total Life Sciences Employment* 142 M€ Fast Lab Stats

Company

Deal Type

Completed

VC Round

€ Raised (MM)

Leanbio

Later Stage VC

Apr 2024

4th Round

€ 6.3

Peptomyc

Grant

Feb 2024

€ 2.7

Roka Furadada

Grant

Feb 2024

€ 1.9

Raised in funding by the companies in Barcelona Science Park (PCB) in 2022 1,300 Life Science companies 91 Research facilities / institutes

Flomics

Seed Round

Mar 2024

2nd Round

€ 1.2

Poseidona

Seed Round

Mar 2024

1st Round

€ 1.2

Biointaxis

Early Stage VC

May 2024

1st Round

€ 1.1

Segle

Later Stage VC

Feb 2024

4th Round

€ 0.6

Affirma Biotech

Early Stage VC

Feb 2024

2nd Round

€ 0.1

Ahead Therapeutics

Equity Crowdfunding

Feb 2024

€ 0.01

Beyond You

Early Stage VC

Jan 2024

3rd Round

*excluding employment in health services

Representative Investment Sale Transactions (2023-2024)

Address

Type

Volume (€m)

GLA (sqm)

Date

Buyer

Terrassa

Office/Lab

24.5

8,500 2023 Q2 Remake Live

Employment for Life Science Industry

Representative Life Sciences Companies

Bayer HQ, Sant Joan Despí, Baix Llobregat Ilumina Building, Esplugues Baix Llobregat

Existing office building (Reconversion to Office+ Lab) Existing office building (Reconversion to Office/Lab)

Stoneshield (deeplabs) Stoneshield (deeplabs)

Conf

25,000 2024 Q1

Company

Type

0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000

Conf

20,900 2024 Q1

66,486 69,927

Sanofi

Spanish HQ Spanish HQ Spanish HQ Spanish HQ Spanish HQ Spanish HQ Spanish HQ Spanish HQ

61,044 63,809

56,705

Novartis

Representative Lease Transactions (2022-2023)

Roche

Company

Address

GLA (sqm) New/Renewal Type

Quarter

Landlord

AstraZeneca

Edificio Estel Avinguda de Roma 81

25,503

Astrazeneca

Pre-let

Office Q1 2024 FREO + Cain

Janssen

Lundbeck

Diagonal 605

611

New Office Q1 2024 MERLIN Properties

GSK

Amgen

Tunstall Televida

Plaça Europa 10

1,622

New Office

Q1 2024 AM Gestió

Braun Bayer

Asispa Servicios

Gran via de les Corts Catalanes 186

3,048

New Office Q1 2024 Private Investoe

2018 2019 2020 2021

2022

Spanish HQ Boehringer Ingelheim Spanish HQ Grifols

Laboratorios Ordesa Torre Ponent, Pg. Zona Franca 105

2,524

New Office Q4 2023 Iberdrola Inmobiliaria

Bio Degree-Awarding Institutions, Metro Area

Sanitas Sa

Provença 386

2,175

New Office Q3 2023 LABORATORIOS VIÑAS S.A.

International HQ International HQ International HQ International HQ International HQ International HQ

Almirall Ferrer Esteve

3,024

New Office Q2 2023 Inmobiliaria Colonial SOCIMI, S.A.

Laboratorios Galderma Av. Diagonal, 530 - 532

• Universitat de Barcelona • UIC Barcelona | Universitat Internacional de Catalunya • Universitat Autònoma de Barcelona • Universitat Pompeu Fabra • UPC Universitat Politècnica de Catalunya • IBEC · Institute for Bioengineering of Catalonia

Contributor Héctor Martínez hector.martinez@cushwake.com

Lacer

Reig Jofre

Sources: Cushman & Wakefield Research, Biocat, Asebio

CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2024 SEPTEMBER