March 2025 Life Sciences Update

Netherlands: Leiden

MARKETS CONTENTS

Market Summary

Public & Private Funding (2023-2024)

Rent vs. Vacancy Comparison

Fast Lab Stats

• Leiden Bio Science Park is the largest, fastest-growing, and most well-known life sciences cluster in the Netherlands. Among the top five European science parks, it is home to an ecosystem of 195 organizations, 11 research institutes, 152 businesses, and 22 healthcare organizations. • The European Medicines Agency's presence in Amsterdam since 2019 has further accelerated growth in the life sciences and health sectors in the Netherlands. • Leasing activity remained slow throughout 2024, with some expansion from existing occupiers and several lease extensions. Eurofins also announced the development of a new office and testing facility to support its growth and centralize operations. • The vacancy rate has remained stable at around 3.2%, while high-quality lab and office space remains scarce. The lack of readily available space is expected to place continued upward pressure on rental levels across the board. • The ongoing development of NEXUS and Eurofins’ new facility is unlikely to significantly improve availability in the park, especially as the university remains restrictive toward speculative developments and developers hesitate to commence before securing an anchor tenant.

€ Raised (MM)

Company

Deal Type

Completed Type

€ 350

10%

295,900 Sqm Office & Lab stock €325 Average ERV Lab per sqm 3.2% Vacancy 21K Total Life Sciences Employment 11 Research institutes

Vico Therapeutics

Later Stage VC

Jun 2024 2nd Round

€ 71.0

€ 325

8%

Vacancy Rate

Leyden Labs Early Stage VC

Sep 2024 3rd Round

€ 70.9

€ 300

Meatable

Later Stage VC

Sep 2024 6th Round

€ 49.6

6%

€ 275

Ncardia

Later Stage VC

Sep 2024 4th Round

€ 46.7

€ 250

4%

VitroScan

Grant

Dec 2024

€ 1.9

€ 225

Prime Asking Rent €/sqm

ExCulture

Early Stage VC

Jun 2024 4th Round

€ 0.7

2%

€ 200

Biomod AI

Accelerator/Incubator

Mar 2024

€ 0.1

ExCulture

Accelerator/Incubator

Apr 2024

€ 0.1

€ 175

0%

2017 2018 2019 2020 2021 2022 2023 2024

Aradon

Accelerator/Incubator

Sep 2024

€ 0.02

Asking Rents

Vacancy Rate

Doser

Later Stage VC

Oct 2024 1st Round

Representative Investment Sale Transactions (2023-2024)

Life Sciences Labor: Netherlands - Pharmaceutical Workforce

Representative Life Sciences Companies

Company

Type

22,000

Volume

Address

Type

LFA (sqm)

Date

Buyer

21,000

Janssen (Johnson & Johnson)

20,000 20,000

Darwinweg 24

Lab & Office

€24.4M

Approx 6,540

Q1 2025 ASR

R&D & Manufacturing

19,500

20,000

Willem Einthovenstraat 2

Lab & Office

€ 51.5M

Approx 6,540

Q4 2024 ASR

Batavia Biosciences

Global HQ, R&D & Manufacturing R&D Nutrition & Biosciences First European Cell Therapy Facility

18,000

IFF

Representative Lease Transactions (2023-2024)

16,000

Bristol-Myers Squibb

15,000

Company

Address

Size (sqm)

New/Renewal

Type

Quarter

Landlord

14,000

Galapagos Dutch HQ & R&D Avery Dennison EU HQ & R&D CHDR HQ & R&D HAL Allergy HQ & R&D CAM Bioceramics HQ & R&D ProQR Global HQ & R&D

Eurofins

De Limes 11

10,000+ New development

Lab & Office

Q4 2024 Eurofins

Confidential

Plus Ultra Leiden

1,000 New Letting

Lab

Q2 2023 Kadans

12,000

Charles River

Darwinweg 24

600

Renewal

Lab & Office

Q4 2024 Caransa

10,000

Good BioMarker scienes

Zernikedreef 12

600

New Letting

Lab

Q1 2024 TPG

2018 2019 2020 2021

2022

Pharming

Darwinweg 24

500

Renewal

Lab & Office

Q4 2024 Caransa

Halix

Einsteinweg 5

500

New Letting

Lab & Office

Q2 2024 Garbe

Bio Degree-Awarding Institutions, Metro Area

VarmX

Plus Ultra Leiden

500

New Letting

Lab

Q1 2023 Kadans

Leiden University

• •

Leiden University Medical Center

• University of Applied Sciences Leiden • Leidse Instrumentmakers School • TNO • NecstGen

Contributors Ruvin Vastenhout ruvin.vastenhout@cushwake.com

Sources: Cushman & Wakefield Research, CoStar, National Institutes of Health (NIH), Lightcast, Pitchbook, Federal Reserve Economic Data (FRE), EFPIA

Cushman & Wakefield

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