Life Sciences on the Rise: 2021 North American Report

PUBLIC & PRIVATE FUNDING (2020-2021)

COMPANY

DEAL TYPE

COMPLETED

TYPE

$ RAISED (MM)

Sana Biotechnology

IPO

Feb 2021

Public

$587.5

Silverback Therapeutics

IPO

Dec 2020

Public

$277.7

Athira Pharma

IPO

Sep 2020

Public

$204.0

Icosavax

Later Stage

Mar 2021

VC

$99.7

Biolife Solutions

Public Investment 2nd Offering Jul 2020

Public

$86.0

Nautilus Biotechnology

Early Stage

May 2020

VC

$76.1

Cajal Neuroscience

Early Stage

Jun 2020

VC

$65.7

Umoja Biopharma

Early Stage

Nov 2020

VC

$53.0

OncoResponse

Later Stage

Mar 2021

VC

$40.6

Mozart Therapeutics

Early Stage

Dec 2020

VC

$40.0

RENT VS. VACANCY COMPARISON

NNN Rents

Vacancy Rate

7.0%

$55.00

$50.00

6.0%

$45.00

5.0%

$40.00

Vacancy Rate

4.0%

$35.00

3.0%

$30.00

2.0%

Vacancy Rate

$25.00 NNN Rent $/sf

$20.00 Average Asking Rent $/sf

1.0%

0.0%

$15.00

2015

2016

2017

2018

2019

2020

Source: CoStar, Cushman & Wakefield Research

Asking Rents

Vacancy Rate

REPRESENTATIVE INVESTMENT SALE TRANSACTIONS (2019-2021)

ADDRESS

TYPE

$ MM

RBA SF DATE BUYER

1201-1208 Eastlake Ave East

Office, Lab

$348.7 Alloc 240,000 Dec 2020 Clarion Partners

199 East Blaine St

Office, Lab

$100.8 Alloc 115,000 Dec 2020 Clarion Partners

21501-21516 23rd Dr SE

cGMP

$22.5

149,100 May 2019 AGC Biologics

REPRESENTATIVE LEASE TRANSACTIONS (2020)

COMPANY

ADDRESS

SIZE (SF) NEW/RENEWAL TYPE QUARTER LANDLORD

Gilead Sciences

199 E Blaine St

109,969 Renewal

Lab Q3

Clarion

Sonoma Biotherapeutics

410 W Harrison St

11,678 New

Lab Q1

Alexandria

Lyell Immunopharma

2525 223rd St SE

27,800 Renewal

cGMP Q1

Alco Investment

Athira

18706 North Creek Pky 19,326 New

Lab Q3

TPG

Lundbeck

11804 North Creek Pky 55,508 New

Lab Q1

TPG

Sonic Concepts

11804 North Creek Pky 9,323 New

Lab Q4

TPG

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Contributor: Robert Sammons, robert.sammons@cushwake.com / Brian Cagayat, brian.cagayat@cushwake.com