Life Sciences 2020: The Future is Here

TOP VC-FUNDED COMPANIES (2019) COMPANY

ROUND MONEY RAISED LEAD INVESTORS

Century Therapeutics

2 2 3 2 2 2 3 2 2 2

$250.0M $75.0M $75.0M $60.0M $50.0M $50.0M $35.6M $35.0M $24.8M $20.0M

Leaps by Bayer

Limelight Bio

Apple Tree Partners Andreessen Horowitz

Tmunity

Prelude Therapeutics

OrbiMed

Cabaletta Bio (NAS: CABA)

Harmony Biosciences Ayala (Biotechnology)

Novartis

Orchestra BioMed

Perceptive Advisors, RTW Investments, Soleus Capital

Imvax

ScoutBio

Digitalis Ventures, RiverVest Venture Partners

SUBMARKET STATS

RENT VS. VACANCY COMPARISON

Asking Rents

Vacancy Rate

$10.00 $15.00 $20.00 $25.00 $30.00

9.0%

AVG. ASKING RENT ($/SF/YR)

INVENTORY (TOTAL SF) VACANCY

OFFICE/LAB University City

Vacancy Rate

6.0%

$41.52 $38.00 $24.25 $29.73 $21.50 $32.40

7,088,957 0.6% 222,400 0.0%

Navy Yard

Philadelphia CBD PA Suburbs Southern NJ

663,242

3.0%

3.0%

1,424,755 64.0%

$0.00 $5.00

Average Asking Rent $/sf

78,000 264,401

19.7% 10.0%

0.0%

Delaware

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Source: Cushman & Wakefield Research

NOTABLE LEASE TRANSACTIONS (2019)

TENANT

SF

LANDLORD

ADDRESS

SUBMARKET

LEASE TYPE

Iovance Biotherapeutics Inc. Amicus Therapeutics, Inc.

136,000 Gattuso Development Partners

300 Rouse Boulevard

Navy Yard

New Lease

76,069

Wexford Science & Technology

3675 Market Street

University City

New Lease

Jefferson Health System, Inc. Flamma Group

65,579

MLP Ventures

3500 Horizon Drive

PA Suburbs

New Lease

39,570

Transwestern

335-395 Phoenixville Pike PA Suburbs

Sublease

NOTABLE SALE TRANSACTIONS (2019)

ADDRESS SUBMARKET SF

BUYER

SELLER

PRICE CAP TENANTS

3001 Red Lion Road 800 Walnut Street

PA Suburbs

283,000 New Mountain Capital 153,242 The University of

PCI Pharma Service

$74.0M

N/A PCI Pharma Service

CBD

Liberty Property Trust

$99.0M

N/A The University of

Pennsylvania Health System

Pennsylvania Health System

KEY PROJECTS UNDER CONSTRUCTION/RENOVATION

ADDRESS

SUBMARKET SF

LANDLORD

TENANTS

STATUS

One UCity Square

University City 400,000 Wexford

Speculative

Under Construction

Science+Technology

727 Norristown Road / Building 6, 9, 10, 13 & 14 300 Rouse Boulevard 400 Rouse Boulevard 411 Swedeland Road / Building 29A

PA Suburbs

255,500 MRA Group

Speculative

Under Renovation

Navy Yard

136,000 Gattuso Development Partners 95,000 Liberty Property Trust

Iovance Biotherapeutics Inc.

Under Construction

Navy Yard PA Suburbs

Wuxi Apptec, Inc.

Under Construction Under Renovation

17,317

MLP Ventures

Speculative

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Contributor: Vincent Planque, vincent.planque@cushwake.com