Life Sciences 2020: The Future is Here

TOP VC-FUNDED COMPANIES (2019)

COMPANY

ROUND

MONEY RAISED LEAD INVESTORS

Nuvation Bio

1

$275.0M

Omega Fund

Sema4

2

$127.0M

SpringWorks Therapeutics

2

$125.0M

Perceptive Advisors

Schrödinger

5

$107.8M

Bill & Melinda Gates Foundation, WuXi AppTec

Caelum Biosciences

1

$69.9M

Alexion

HiberCell

1

$60.8M

ARCH Venture Partners

X-Vax Technology

1

$56.5M

Prevail Therapeutics

3

$50.0M

Paige.ai

2

$45.0M

Stelexis

2

$43.0M

Deerfield Management

INVENTORY/GROWTH PROJECTION

RENT VS. VACANCY COMPARISON

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0

Asking Rents

Vacancy Rate

4.2

$80.00

25.0%

3.3

20.0%

Vacancy Rate

2.7

$60.00

15.0%

1.6

MSF

10.0%

$40.00

5.0%

Average Asking Rent $/sf

$20.00

0.0%

2019

2020

2021

2022

Source: Cushman & Wakefield Research

2016

2017

2018

2019

Source: Cushman & Wakefield Research

SUBMARKET STATS

AVG. ASKING RENT ($/SF)

INVENTORY (TOTAL SF)

VACANCY

Manhattan

$90.33

1,054,535

12.1%

NYC-Other

$60.00

503,800

18.9%

NOTABLE LEASE TRANSACTIONS (2019)

TENANT

SF

LANDLORD

ADDRESS

SUBMARKET LEASE TYPE

HiberCell

15,094 Silverstein Properties & Taconic Investment Partners 13,892 Silverstein Properties & Taconic Investment Partners

619 West 54th Street (Hudson Research Center) 619 West 54th Street (Hudson Research Center)

Midtown

New Lease

Ichan School of Medicine (Research Facility)

Midtown

New Lease

Therapath

13,395 CentFlor Manufacturing Co.

545 West 45th Street

Midtown

Renewal

NOTABLE SALE TRANSACTIONS (2019)

TENANT

SUBMARKET

SF

BUYER

SELLER

PRICE

CAP

24-02 49th Avenue

Long Island City 830,000 Innovo Property Group/ Nan Fung Group

Westbrook Partners

$438.0M N/A

345 Park Avenue South

Midtown South 300,000 Deerfield Management

RFR Realty

$344.5M 4.30%

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Contributors: Marc Kunesch, marc.kunesch@cushwake.com; Seth Schiffman, seth.schiffman@cushwake.com