Life Sciences on the Rise: 2021 North American Report

MARKET SUMMARY • The Denver market has solidified itself as an emerging life sciences hub by promoting growth and innovation due to the leading research institutions, federal labs and nearly 900 life sciences companies calling Denver home. • Industry growth has been fueled by a strong STEM labor pool, favorable taxes and incentives, and an abundance of capital and funding from both the private and public sectors. • Denver’s life sciences industry is highly comprised of medical device and diagnostics companies, which account for 64% of life sciences employment. • The Denver market, which includes the flagship university of the University of Colorado system in Boulder, is home to a vibrant start-up community due to the strong incubator and innovation centers that reside in the region. • Lack of available supply has been a limiting factor in the expansion of the life sciences and drug discovery activities in the Denver market with the Novartis campus in Longmont viewed by many as a potential lab cluster opportunity. • The life sciences market continues to expand, with growth primarily concentrated in the Boulder and Northwest suburban submarkets.

FAST LAB STATS 4.7 MSF MARKET SQUARE FOOTAGE

$15.70 $ PER SF NNN 18.1% VACANCY 7.8K TOTAL LIFE SCIENCES EMPLOYMENT & TALENT POOL +80% LIFE SCIENCES EMPLOYMENT GROWTH RATE SINCE 2001

Denver

REPRESENTATIVE LIFE SCIENCES COMPANIES

LIFE SCIENCES TALENT POOL

3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000

7,534

COMPANY

TYPE

Medtronic

Regional Office

Pfizer

Research Facility

Eli Lilly

Research Facility

Agilent Technologies

Research Facility

Average Annual Growth Rate 2001-2020: 3.4%

Number of Persons Number of Persons

Terumo BCT

HQ

AGC Biologics

Research Facility

2011

2017

2012

2021

2015

2013

2018

2016

2019

2014

2001

2010

2007

2002

2020

2005

2003

2008

2006

2009

2004

SomaLogic

HQ

Denver-Aurora-Lakewood, CO

Talent pool includes life science professionals not currently employed in the life science sector Source: EMSI

Front Range Biosciences

HQ

KBI Biopharma

Research Facility

BIO DEGREE-AWARDING INSTITUTIONS, METRO AREA • University of Colorado (Denver)

LivaNova

Research Facility

TOP NIH-FUNDED INSTITUTIONS (2016-2020)

NATIONAL JEWISH HEALTH $195M

UNIVERSITY OF DENVER (COLORADO SEMINARY) $30M

DENVER HEALTH AND HOSPITAL AUTHORITY $13M

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