March 2025 Life Sciences Update

Dallas-Fort Worth

MARKETS CONTENTS

Market Summary

Public & Private Funding (2024)

Fast Lab Stats

• Fueled by the region’s strong talent pool, ease of connectivity to international hubs, and an inflow of capital from federal grants and institutional investments, Dallas-Fort Worth is emerging as a life sciences hub. The metro's life sciences industry is diverse, encompassing sectors such as scientific research and development services, chemical and pharmaceutical manufacturing, medical equipment and supplies manufacturing, medical laboratories, and diagnostic imaging centers. • Pegasus Park, a 23-acre life sciences development located on the former Exxon Mobil campus, serves as the first dedicated lab and research space in Dallas-Fort Worth. In the third quarter of 2024, the campus opened Bridge Labs, a 135,000-sf facility that includes 60,000 sf of institutional quality lab space. • NexPoint, a Dallas-based investment firm, is advancing a large-scale life sciences initiative named the Texas Research Quarter, which seeks to repurpose obsolete office space into a facility that caters to laboratory and manufacturing requirements in the life sciences sector. This adaptive reuse project will be on the 91-acre site of the former Electronic Data Systems headquarters and will span a total of 200 acres across multiple parcels. Development will occur in four phases and will cover 4 msf of space upon completion. • In the fourth quarter of 2024, NexPoint purchased two office campuses adjacent to the Texas Research Quarter, adding 74 acres for potential development. • Specialty biotechnology and pharmaceutical organization Panthera BioSolutions opened its pilot Good Manufacturing Practices facility in Fort Worth, offering bespoke manufacturing solutions for life sciences research and innovation.

Company

Deal Type

Completed

VC Round

$ Raised (MM)

3.9 MSF Total Inventory 677,000 SF Under Construction 2.6 MSF Proposed 13.4K Total Life Sciences Employment 28.9% Life Sciences Employment 10-Year Growth Rate

Osteal Therapeutics

Later Stage VC

May 2024

4th Round

$50.0

Actuate Therapeutics (NAS: ACTU) IPO

Aug 2024

$22.4

Diakonos Oncology

Seed Round

Aug 2024

1st Round

$11.4

Cercle (Healthcare Services)

Seed Round

Aug 2024

2nd Round

$6.0

Aakha Biologics

Seed Round

Apr 2024

1st Round

$4.8

Cx Precision Medicine

Later Stage VC

May 2024

4th Round

$4.0

Regenified

Early Stage VC

Jun 2024

1st Round

$3.3

Okogen

Later Stage VC

Dec 2024

3rd Round

$3.3

Actuate Therapeutics (NAS: ACTU) Later Stage VC

Mar 2024

7th Round

$3.0

Aakha Biologics

Grant

May 2024

$2.6

Representative Life Sciences Companies

Life Sciences Labor: Average Monthly Job Postings

Representative Investment Sale Transactions (2024)

Address

Type

$ MM RBA SF Date

Buyer

Company

Type

1,400

Tenet Healthcare

HQ

1,200

1801 N Glenville Dr

Office

-

44,549 Q2 2024

Faropoint

McKesson Corporation

HQ

1,000

Caris Life Sciences

HQ

800

AMN Healthcare

HQ

Representative Lease Transactions (2024)

600

HQ

Lantern Pharma

Company

Address

Size (SF) New/Renewal

Type

Quarter Landlord

400

Baylor Scott and White Health

HQ

Bristol Myers Squibb

200

Kimberly-Clark

HQ

3800 N Beach St

64,800 New

Industrial

Q1

Stepp Investments

Alcon

U.S. HQ

-

Albany Road Real Estate Partners Anne McGilvray & Company

2020 2021

2022

2023

2024

Galderma Laboratories

U.S. HQ

Fortrea

1341 W Mockingbird Ln

58,806 New

Office

Q2

Hires Unique Postings

BioLabs

Regional HQ

Koya Medical

2332-2340 Valdina St

35,502 New

Industrial

Q1

Top NIH-Funded Institutions (2020-2024)

Bio Degree-Awarding Institutions, Metro Area

Annual Life Sciences Degree Completions 2013 1,988

Medisca

4651 W John Carpenter Fwy

25,408 New

Industrial

Q2

Archway Properties

$1.3B University of Texas Southwestern Medical Center $349M University of North Texas Health Science Center $118M University of Texas at Dallas

University of Texas Southwestern Medical Center University of North Texas Health Sciences Center University of Texas at Dallas University of Texas at Arlington Texas Women’s University Texas Christian University Texas A&M – Commerce

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•

2023 3,388 Up 70%

• • • • • • •

Andrew Matheny andrew.matheny@cushwake.com Research Contributors

Texas Tech University Southern Methodist University

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

Cushman & Wakefield

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