Life Sciences 2020: The Future is Here

TOP VC-FUNDED COMPANIES (2019)

COMPANY

ROUND MONEY RAISED LEAD INVESTORS

Poseida Therapeutics Avidity Biosciences

3 3 6 3 4 3 2

$142.0M $100.0M $100.0M $85.0M $82.0M $78.4M $74.5M $64.0M $56.0M $55.0M

Novartis Pharma RTW Investments

Rakuten Medical

Rakuten

Epirium

Vividion Therapeutics Ansun Biopharma Fount Therapeutics

Nextech Invest

Junson Capital, Korea Investment Partners, Oceanpine Healthcare Fund

Erasca

1 1

City Hill Ventures, Cormorant Asset Management

Kumquat Biosciences

Locana

2

ARCH Venture Partners

RENT VS. VACANCY COMPARISON

SUBMARKET STATS

Asking Rents

Vacancy Rate

$50.00

10.0%

AVG. ASKING RENT (NNN)

INVENTORY (SF)

VACANCY

$45.00

8.0%

Torrey Pines

$60.00

5,744,850 9.7%

Vacancy Rate

$40.00

6.0%

UTC

$59.40

4,503,704 5.4%

$35.00

4.0%

Sorrento Mesa

$49.20

5,048,234 10.0%

$30.00

2.0%

Sorrento Valley

$45.90

1,624,942

10.0%

Average Asking Rent $/sf

$25.00

0.0%

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

Neurocrine Biosciences

228,535 Kilroy Realty Corporation

12360 & 12390 El Camino Real

Del Mar Heights Renewal and Expansion

Pacira Pharmaceuticals

174,318 Healthpeak Properties

10450 Science Center Drive

Torrey Pines

Renewal and Expansion

Retrophin

77,242 Kilroy Realty Corporation

3611 Valley Centre Drive Del Mar Heights New

Omniome

73,500 Healthpeak Properties

6965 Lusk Boulevard Sorrento Mesa New

Mirati Therapeutics

64,108 Alexandria Real Estate Equities 3545 Cray Court

Torrey Pines

New

NOTABLE SALE TRANSACTIONS (2018-2019)

ADDRESS SUBMARKET SF

BUYER

SELLER

PRICE CAP TENANTS

Illumina HQ (49% stake)

UTC

792,687 LaSalle Investment Management 314,135 Alexandria Real Estate Equities 689,925 Alexandria Real Estate Equities

Alexandria Real Estate Equities Phase 3 Real Estate Partners

$266.7M 4.70% Illumina

Genesis

Campus Point Sorrento Mesa

$255.0M N/A AveXis, Tocagen, Celgene, BioLabs $229.9M N/A Notes: Repurposing of flex/office to lab. Tower remaining office. Current tenants include Sony, HUB Insurance, and Qualcomm

San Diego Tech Center

CalSTRS

Wateridge Pointe

Sorrento Mesa Sorrento Mesa

123,675 BioMed Realty

Angelo, Gordon & Co. Cypress Office Properties

$42.5M N/A Wells Fargo, Certona

Oberlin Labs

105,771

BioMed Realty

$40.3M N/A Biomatrica

Contributor: Jolanta Campion, jolanta.campion@cushwake.com; Justin Balagtas, justin.balagtas@cushwake.com; Jack Hughson, jack.hughson@cushwake.com

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