Life Sciences on the Rise: 2021 North American Report

MARKET SUMMARY • San Diego continues to strengthen its position as North America’s third largest center of biotechnology-type research activity, relative to the Greater Boston and San Francisco Bay markets. • The core of San Diego’s life sciences industry is anchored in the coastal suburb of Torrey Pines, home to UC San Diego and private research institutions including Scripps Research, the Salk Institute, and the Sanford Burnham Prebys Medical Discovery Institute. • Public, private and academic collaboration, talented workforce, high quality of life of Southern California and strong anchors such as Illumina, Pfizer, Bristol Myers, Lilly and Takeda have fueled the continued growth of the industry. • The life sciences cluster generates over $39.4B in economic output, providing over 65,500 jobs with average annual earnings exceeding $115,000. • The region is home to more than 1,500 life sciences companies and more than 80 independent and university-affiliated research institutes. • Limited supply has encouraged developers to search for opportunities beyond traditional life sciences submarkets to convert older buildings to lab or build new speculative projects to meet rising demand.

FAST LAB STATS 19.3 MSF MARKET SQUARE FOOTAGE

$53.52 $ PER SF NNN

8.6% VACANCY 33.7K TOTAL LIFE SCIENCES EMPLOYMENT & TALENT POOL +92% LIFE SCIENCES EMPLOYMENT GROWTH RATE SINCE 2001

San Diego

LIFE SCIENCES TALENT POOL

REPRESENTATIVE LIFE SCIENCES COMPANIES

8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000

15,755

COMPANY

TYPE

Illumina

HQ

Scripps Research

HQ

Regional R&D Center Regional R&D Center Regional R&D Center

Pfizer

Average Annual Growth Rate 2001-2020: 2.3%

BMS/Celgene

Number of Persons

Number of Persons

Lilly

Dexcom

HQ

2011

2017

2012

2021

2015

2013

2018

2016

2019

2014

2001

2010

2007

2002

2020

2005

2003

2008

2006

2009

2004

San Di go-Chula Vista-Carlsbad, CA

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

Regional R&D Center Regional R&D Center

Vertex

Takeda

BIO DEGREE-AWARDING INSTITUTIONS, METRO AREA • University of California San Diego • California State University San Marcos • National University (California)

Quidel

HQ

Regional R&D Center

Hologic

TOP NIH-FUNDED INSTITUTIONS (2016-2020)

UNIVERSITY OF CALIFORNIA, SAN DIEGO $2.3B

SCRIPPS RESEARCH INSTITUTE $942M

SALK INSTITUTE FOR BIOLOGICAL STUDIES $279M

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