Life Sciences Update | 2022 October

Montreal

Market Summary

Public & Private Funding (2022)

Fast Lab Stats

• Montreal is the leading life sciences research and development hub in Canada for patents and R&D expenditures, with 1,487 Life Sciences and Health Technologies (LSHT) companies and 171 research centers. • Montreal has a large talent pool, thanks to eight university-level institutions and three engineering schools. • The region’s life sciences industry is highly diversified, with organizations ranging from traditional pharmaceuticals/biopharmaceuticals, diagnostics, health technologies, artificial intelligence research, medical device research and manufacturing, and an active venture capital investor pool. • Recently, Moderna announced plans to open a vaccine facility in a biotechnology park in Laval – located just outside Montreal. Production is expected to begin in 2024. • Montreal features some of the lowest research and operational costs in North America, due in part to substantial provincial tax credits, including a 29% tax credit for scientific research and experimental development. • The area’s support infrastructure facilitates companies through all phases of development, from basic research to commercialization.

Company

Deal Type

Completed

Type

$ Raised (MM)

21.3K Total Life Sciences Employment 21% Life Sciences Employment 10-Year Growth Rate

Ventus Therapeutics

Later Stage VC

Feb 2022

VC

$140.0

Congruence Therapeutics

Early Stage VC

Feb 2022

VC

$50.0

KalGene Inc

Later Stage VC

Jan 2022

VC

$4.8

Representative Investment Sale Transactions (2022)

Address

Type

$ MM RBA SF

Date Buyer

660 Industrial Blvd, Blainville

Lab

4.25

38,029

Q2 2022 Laboratoire Riva Inc.

Representative Lease Transactions (2022)

Company

Address

Size (SF) New/Renewal

Type

Quarter Landlord

Representative Life Sciences Companies

Life Sciences Labor: Average Monthly Job Postings

Purity Life Health Products

1000 John-Molson St

37,400 New

Manufacturing Q2 2022 Montoni

Company

Type

IntelliSyn Pharma Inc.

4800-4858 Levy St

34,242 New

Office

Q2 2022 Canderel

800

Bausch Health Companies Novartis Pharma Canada

International HQ

Association Pulmonaire du Québec 4115 Ontario St E

10,296 New

Office

Q2 2022 Mitelman Properties

700

Canadian HQ

600

Pharmascience Inc

International HQ

500

Abbott Laboratories

Canadian HQ

400

Merck Canada Inc

Canadian HQ

300

Pfizer Canada SRI

Canadian HQ

200

$11M McGill University $8M McGill University Health Ctr Res Inst $4M University of Montreal Hospital Top NIH-Funded Institutions (2018-2022) Sandoz Canada Inc Canadian HQ Confab Laboratories Inc International HQ AbbVie Research Facility Bristol-Myers Squibb Canadian HQ

100

0

2018

2019

2020 2021

2022

Bio Degree-Awarding Institutions, Metro Area

Annual Life Sciences Degree Completions 2010 1,784

• • •

McGill University

University of Montreal (UdM)

University of Quebec in Montreal (UQÀM) Concordia University Polytechnic School of Montreal

• •

2019 2,112 Up 15%

Research Contributor

• •

HEC Montreal

School of Higher Technology - University of Quebec

George Meletakos george.meletakos@cushwake.com

Sources: Cushman & Wakefield Research, CoStar, National Institutes of Health (NIH), Lightcast, Pitchbook

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/ CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2022 OCTOBER