Life Sciences on the Rise: 2021 North American Report

MARKET SUMMARY • Toronto is the epicenter of the Ontario Life Sciences Corridor, anchored by the downtown MaRS Discovery District, the life sciences Cluster in Mississauga and McMaster Innovation Park in Hamilton. • Four of Canada’s top-ten research universities are in Ontario: the University of Toronto, McMaster University, University of Ottawa, and University of Western Ontario. • Toronto is one of the top centers in North America for life sciences, combining research, clinical and business expertise with more than 40,000 people in the Greater Toronto Area. • Life sciences growth is being driven by many factors, including demographics, but also because of the pandemic, which has shone light on Canada’s limited capacity to manufacture vaccines, despite our world-renowned R&D capabilities. All levels of government have stepped in with considerable funding commitments—and the wider investment community is lining up. • Canada’s open immigration policies and world-class research education institutions deliver a steady flow of top-rate talent. Ontario produces almost 50,000 STEM graduates annually, making it among the top five centers for STEM grads in North America. • A multiyear spending plan announced by the federal government in its April budget includes CA$2.2B in new funding for life sciences, with much of the money targeted at boosting biomedical applications and vaccine development. • Growth in life sciences facilities is expected to occur in phases, with the first phase targeting urban centers close to existing hubs—University of Toronto, MaRS Discovery District and McMaster Innovation Park. Suburban markets like Mississauga are quickly moving into the picture with focused strategies aimed at becoming a leading life sciences center.

FAST OFFICE STATS 181.5 MSF MARKET SQUARE FOOTAGE

$47.91 $ PER SF NNN

8.8% VACANCY 40K TOTAL LIFE SCIENCES EMPLOYMENT & TALENT POOL

Toronto

REPRESENTATIVE LIFE SCIENCES COMPANIES

TOP NIH-FUNDED INSTITUTIONS (2016-2020) The National Institute of Health (U.S.) provided $24.3M $USD in funding to Toronto universities and health centers in 2020.

COMPANY

TYPE

Pfizer Canada

Regional Office

Merck

Regional Office

BIO DEGREE-AWARDING INSTITUTIONS, METRO AREA

Novartis

Regional Office

Canadian HQ/Research Facility

• McMaster University • Queen’s University • University of Toronto • University of Waterloo • University of Windsor • Western University • York University

GlaxoSmithKline

Multiple Locations - Canadian HQ/Other

Abbott

Bayer Inc

Regional Office

Amgen Canada Inc

Regional Office (R&D in BC)

Eli Lilly Canada Inc

Canadian HQ

Baxter

Canadian HQ/Other

United Therapeutics

Other - cGMP

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