March 2025 Life Sciences Update

Spain: Barcelona

MARKETS CONTENTS

Market Summary

Public & Private Funding (2024)

• Like the Spanish market overall, Barcelona has experienced a decline in activity and pricing over the past year, but the life sciences sector has remained relatively resilient. • The BioRegion is the center of Catalonia’s life sciences and innovation ecosystem, generating 7.9% of Catalan GDP and more than 6.5% of employment. There are 91 research entities and infrastructures based in the region: 40 research centers, 20 university hospitals, 12 universities offering life sciences studies, three large scientific infrastructures, two technology centers and 14 science and technology parks with life sciences activities. • Catalonia’s world -renowned hospitals and universities feed its extensive talent pools. The region is ranked eighth in the world for clinical trials and fifth in Europe, with 1,242 active clinical trials currently underway. • Barcelona is a targeted location for startups and small businesses in the life sciences sector, which account for 78% of the total. This type of occupier tends to look for more flexible space, favoring coworking or short-term lab rentals in bio-incubators or parks. However, Barcelona is also an increasingly popular location among larger companies, with occupiers focused on locations that offer greater scale, expansion potential, and diverse space options in a particular sublocation. • Barcelona’s life sciences sector is expected to expand and consolidate in the coming years. The private sector is starting to accommodate life sciences facilities, following trends seen in other advanced European markets.

Fast Lab Stats

Company

Deal Type

Completed

VC Round

€ Raised (MM)

69,927K Total Life Sciences Employment* 222 M€

INBRAIN Neuroelectronics

Early Stage VC

Oct 2024

€ 50.0

Sequentia Biotech

Later Stage VC

Apr 2024

2nd Round

€ 10.9

Palobiofarma

Later Stage VC

May 2024

7th Round

€ 7.7

Raised in funding by the startups and scaleups in 2023 1,400 Life Science companies 91 Research facilities / institutes

Leanbio

Later Stage VC

Apr 2024

4th Round

€ 6.3

Integra Therapeutics

Grant

Mar 2024

€ 2.7

Peptomyc

Grant

Feb 2024

€ 2.7

Roka Furadada

Grant

Feb 2024

€ 1.9

FreeOx

Seed Round

Aug 2024

€ 1.9

Braingaze

Later Stage VC

Mar 2024

3rd Round

€ 1.6

Ahead Therapeutics

Equity Crowdfunding

Feb 2024

€ 1.4

*excluding employment in health services

Representative Investment Sale Transactions (2023-2024)

Address

Type

Volume (€m)

GLA (sqm)

Date

Buyer

Terrassa

Office/Lab

24.5

8,500 2023 Q2 Remake Live

Employment for Life Science Industry

Representative Life Sciences Companies

Bayer HQ, Sant Joan Despí, Baix Llobregat Ilumina Building, Esplugues Baix Llobregat

Existing office building (Reconversion to Office+ Lab) Existing office building (Reconversion to Office/Lab)

Stoneshield (Deeplabs) Stoneshield (Deeplabs)

Conf

25,000 2024 Q1

Company

Type

80,000

Conf

20,900 2024 Q1

69,927

66,486

Sanofi

Spanish HQ

70,000

63,809

61,044

56,705

Novartis

Spanish HQ

60,000

Representative Lease Transactions (2023-2024)

50,000

Roche

Spanish HQ

Company

Address

GLA (sqm)

New/Renewal Type

Quarter Landlord

40,000

AstraZeneca

Spanish HQ

Astrazeneca

Edificio Estel Avinguda de Roma 81

25,503

Pre-let

Office

Q1 2024 FREO + Cain

30,000

Janssen

Spanish HQ

Office/La b

20,000

Qiagen Iberia

Campus Esplugues, Enric Granados 32

7,942

Let

Q3 2024 Conren Tramway

GSK

Spanish HQ

10,000

Amgen

Spanish HQ

Smith & Nephew Campus Esplugues, Enric Granados 32

1,568

Let

Office

Q3 2024 Conren Tramway

0

Braun

Spanish HQ

Office/La b

2018 2019 2020 2021

2022

Q Genomics

Ilumina Building, Gaspar Fàbregas 81

343

Let

Q4 2024

Deeplabs, Stoneshield

Bayer

Spanish HQ

Koa Biotech

Ilumina Building, Gaspar Fàbregas 81

62

Let

Wet Lab Q4 2024 Deeplabs, Stoneshield

Boehringer Ingelheim Spanish HQ

Bio Degree-Awarding Institutions, Metro Area

Poseidona

Ilumina Building, Gaspar Fàbregas 81

50

Let

Wet Lab Q4 2024 Deeplabs, Stoneshield

Grifols

International HQ

Lainco

Ilumina Building, Gaspar Fàbregas 81

48

Let

Wet Lab Q4 2024

Deeplabs, Stoneshield

Almirall

International HQ

Universitat de Barcelona

•

• UIC Barcelona | Universitat Internacional de Catalunya • Universitat Autònoma de Barcelona • Universitat Pompeu Fabra • UPC Universitat Politècnica de Catalunya • IBEC · Institute for Bioengineering of Catalonia

Ferrer

International HQ

Esteve

International HQ

Contributor Héctor Martínez hector.martinez@cushwake.com

Lacer

International HQ

Reig Jofre

International HQ

Sources: Cushman & Wakefield Research, Biocat, Asebio

Cushman & Wakefield

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