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Amidst empty labs, signs of biotech’s resurgence emerge

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In 2023, a year of accelerated regulatory success, a significant number of biotech labs sat empty in major hubs like San Francisco and Boston. The FDA approved 55 groundbreaking therapies in 2023, including Leqembi for early Alzheimer’s and Zurzuvae for postpartum depression. The approval number marked the second highest count in three decades. Amidst this contradiction, the seeds of biotech’s next boom are taking root.

In 2024, 72 late-stage therapies are poised for FDA approval, hinting at the potential for resurgence within the life sciences. While post-pandemic lab construction meets a wave of approvals, a slowdown in venture funding and job growth casts a temporary shadow. Additionally, the biotech lab space real estate picture is not as simple as it seems, with a marked shift in the scale and nature of drug development driving evolving space needs.

Even amidst this p…

The hottest life science hubs in the U.S.

Boston at night [Photo by Lance Anderson on Unsplash]

Boston, San Francisco and San Diego remain the leading U.S. life science hubs — hauling in 70% of all the venture capital in the space last year, according to a new report from commercial real estate services company JLL.

Venture capital funding matters, according to JLL, because it fuels innovative companies that then require more real estate space. It’s little wonder that Boston and San Francisco led other clusters with respect to development, with 2.7 million square feet and 4.0 million square feet respectively under construction.

Get the full story on our sister site Medical Design & Outsourcing.

The hottest life science hubs in the U.S.

Boston at night [Photo by Lance Anderson on Unsplash]

Boston, San Francisco and San Diego remain the leading U.S. life science hubs — hauling in 70% of all the venture capital in the space last year, according to a new report from commercial real estate services company JLL.

Venture capital funding matters, according to JLL, because it fuels innovative companies that then require more real estate space. It’s little wonder that Boston and San Francisco led other clusters with respect to development, with 2.7 million square feet and 4.0 million square feet respectively under construction.

Get the full story on our sister site Medical Design & Outsourcing.

The hottest life science hubs in the U.S.

Boston at night [Photo by Lance Anderson on Unsplash]

Boston, San Francisco and San Diego remain the leading U.S. life science hubs — hauling in 70% of all the venture capital in the space last year, according to a new report from commercial real estate services company JLL.

Venture capital funding matters, according to JLL, because it fuels innovative companies that then require more real estate space. It’s little wonder that Boston and San Francisco led other clusters with respect to development, with 2.7 million square feet and 4.0 million square feet respectively under construction.

The U.S. is struggling through the COVID-19 pandemic and resulting recession. But JLL in its “2020 Life Sciences Real Estate Outlook” report expressed optimism when it comes to the life sciences sector. Key points in the report included:

The pandemic has sparked a race to create coronavirus tests, t…

Real estate firms tout former Bristol-Myers Squibb facility as an ‘innovation campus’

The Princeton West Innovation Campus in Hopewell, N.J. [Image courtesy of Bristol Myers Squibb]

Lincoln Equities Group and H.I.G. Realty Partners announced today that they’ve acquired the 1.2 million-square-foot life sciences campus that Bristol-Myers Squibb owned outside Princeton, N.J.

Brokerage firm JLL is helping the real estate outfits market the 433-acre “Princeton West Innovation Campus” in Hopewell, N.J., to life sciences companies as a secure, multipurpose research and development (R&D) and biologic/pharmaceutical manufacturing campus.

“Given the current public health crisis, we anticipate pharmaceutical and life sciences manufacturers to consider ‘reshoring’ and expanding operations in the U.S.,” Joel Bergstein, president of Lincoln Equities Group, said in a news release. “This spacious, modern BMS campus — located in the center of ‘Einstein’s Alley’ in Central New Jersey — i…