Life Sciences 2020: The Future is Here

MARKET SUMMARY

• The life sciences sector in Montreal has numerous internationally acclaimed fields of expertise such as biomanufacturing, cellular therapy and regenerative medicine; and precision medicine such as genetics, genomics and proteomics. • There is a growing pool of highly qualified talent in Montreal with 11 higher education institutions located within the city. The most notable of these institutions are McGill University, Université de Montréal, and the Institut National de la Recherche Scientifique (INRS). • There is strong support from venture capital and major public investment for life sciences, and the sector has major hubs to boost business partnerships such as Technoparc Montreal in Saint- Laurent, Cité de la Biotech in Laval and the Quartier de l’Innovation. • The province of Quebec offers many competitive advantages to life sciences companies looking to operate there. The province has one of the lowest corporate effective tax rates in Canada and the U.S., and companies have access to a multitude of government incentives such as grants and interest-free loans for major projects and innovations, along with sector tax credits and labor development grants. • Montreal is also home to Canada’s only artificial intelligence research superclusters (and is one of the largest in the world). Every level of government has come together to nurture an incredible culture of innovation to create a unique, interconnected and collaborative ecosystem that is now providing key expertise for the health industry’s future, with AI applications in biotech/pharmaceuticals, medical technologies and digital health.

MONTREAL TOP LIFE SCIENCES COMPANIES COMPANY TYPE

98 MSF TOTAL MARKET SQUARE FOOTAGE* FAST OFFICE STATS AVERAGE ASKING RENT (PER SF, NET) $16.86

Pfizer

Big Pharma

Roche

Big Pharma/Diagnostics

Sanofi

Big Pharma

GlaxoSmithKline

Big Pharma

Novartis

Big Pharma

AbbVie

Big Pharma/ Biopharmaceutical

Merck

Big Pharma

AstraZeneca

Big Pharma/ Biopharmaceutical Biopharmaceutical Research

45K

Gilead

TOTAL EMPLOYEES

Teva

Big Pharma

10.3% VACANCY

TOP NIH-FUNDED INSTITUTIONS According to the Canadian Institutes of Health Research, during the period from 2008/2009 to 2018/2019 the province of Quebec received $2.8 Billion (CDN) for 9,633 new and ongoing funded research projects. This is the second-highest level of provincial funding after Ontario.

* Montreal office market, Life Sciences lab space is not broken out

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