LIFE SCIENCES 2021: THE FUTURE IS NOW!

2021

MARKET SUMMARY The life sciences market covers 7.6 One of the big drivers for life science in Los million square feet of laboratory space. The inventory Angeles is the advantage of its proximity to world is spread over a huge geographical area but clusters class learning and research institutions. Two of tend to locate and expand around large biotech the five University of campuses with companies, universities and/or research institutes. medical schools are located in the Los Angeles/ Every submarket is unique to the local fundamentals Orange County market: University of California, and is also based on the presence of each major Los Angeles (UCLA) and UC Irvine. In addition, university, large research institutes, and or major life the region is home to major research universities: science companies anchored in that specific market. UC Santa Barbara, Cal Tech and the University of Los Angeles life sciences companies typically focus (USC). Overall, there are more on low-rise/flex product, which is more affordable than 25 research institutes, universities and colleges and can be adapted to fit these companies’ unique that conduct research and train future generations needs (i.e. floor size, loading capabilities, ceiling of entrepreneurs and scientists. Leading private heights, ability to vent and above standard power). research institutions are also located in the Los The Los Angeles Market is well positioned for future Angeles basin such as Cedars Sinai Medical Center, life sciences growth. The region can draw from a the City of Hope National Medical Center, Huntington deep global talent pool, and the life sciences sector Medical Research Institute, the Children’s Hospital of maintains strong ties to leading regional universities Los Angeles and Kaiser Foundation Hospital. and research centers. Given the size of the Los Angeles market, life sciences clusters are spread throughout the region and can be grouped together as West Los Angeles, South Bay, Los Angeles North, LIFE SCIENCE TENANTS , the Santa Clarita Valley and (BY REVENUE) Downtown/Central LA.

COMPANY TYPE

Kite Pharma R&D

FAST LAB STATS Amgen Pharmaceutical

LOS ANGELES LOS Edwards Life Sciences Medical Devices MARKET SQUARE Masimo Medical Devices 7.6 MSF FOOTAGE Sanofi/Genzyme Pharmaceuticals Celgene R&D AVERAGE RENT Xencor R&D $48-$58 (PER SF) RANGE Baxter Pharmaceuticals Seigfreid Pharmaceuticals LIFE SCIENCES Grifols R&D 195,820K JOBS Atara R&D Puma Biotechnology R&D

Provivi Agricultural Biotech VACANCY 1.5% SOFIE Medical Devices Avanir Pharmaceuticals

Nantworks R&D TOP NIH-FUNDED INSTITUTIONS $672M $320M $168M UNIVERSITY OF UNIVERSITY OF UNIVERSITY OF CALIFORNIA CALIFORNIA LOS ANGELES SOUTHERN CALIFORNIA IRVINE

CUSHMAN & WAKEFIELD TOP VC-FUNDED COMPANIES (2020)

HEADQUARTERS LAST LAST FUNDING LAST FUNDING LAST FUNDED COMPANY LOCATION FUNDING DATE AMOUNT TYPE BY

Provivi Santa Monica, CA 12/1/2020 $45,500,000.00 Series A Vivo Capital, Kairos Ventures Tarsus Pharmaceuticals Irvine, CA 1/8/2020 $60,000,000.00 Series B Aperture Venture Partners, Vivo Capital Kernel Los Angeles, CA 7/9/2020 $53,000,000.00 Series C Tiny Blue Dot, Manta Ray Ventures A2 Biotherapeutics Westlake Village, CA 10/6/2020 $71,500,000.00 Series B Casdin Capital, Hartford HealthCare Endowment Octant Bio Los Angeles, CA 5/20/2020 $30,000,000.00 Series A Andreessen Horowitz, Allen & Company LLC TAE Life Sciences Foothill Ranch, CA 6/2/2020 $30,000,000.00 Series B Artis Ventures (AV) Force Impact Technologies Inc. Los Angeles, CA 9/23/2020 $100,000.00 Series A Avnet Arthrosi Therapeutics Laguna Hills, CA 5/20/2020 $8,500,000.00 Venture - Series Unknown Viva BioInnovator ImmPACT Bio USA Camarillo, CA 8/18/2020 $18,000,000.00 Series A JVC Investment Partners, RM Global Partners SOFIE Biosciences Culver City, CA 11/12/2020 $27,400,000 Series C Jubilant Pharmaceuticals mvmtAi Santa Monica, CA 9/17/2020 Pre-Seed Angel (individual) TOTAL GRANTS PER YEAR

TOTAL N.I.H. GRANTS PER YEAR $1.7 1.5 $1.1 $1.2 $45.00 14% 1.1 1.05 $40.00 12% $1.0 1 $35.00 10% 0.95 $0.9 $30.00 O 8% 0.9 $0.8 M $25.00 0.85 / 6%

ILLI ON S 0.8 $20.00 B PS F 4% 0.75 $15.00 0.7 2% $10.00

0.65 $30.05 $30.71 $28.16 $36.39 $39.64 $48.01 $5.00 0% 0.6 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 RENTAL RATE VACANCY RATE NOTABLE LEASE TRANSACTIONS ADDRESS SUBMARKET SF TENANT TRANSACTION TYPE LANDLORD

129 Hill Ave Pasadena, CA 7,500 Terray Therapies Expansion Alexandria

129 Hill Ave Pasadena, CA 19,867 Calimmune, Inc. Expansion Alexandria

1535 Rancho Conejo Blvd Thousand Oaks, CA 18,000 Instil Bio New Deal Hatch Labs

2355 & 2383 Utah Ave El Segundo, CA 25,000 Kite Pharma Expansion NSB Associates

NOTABLE SALE TRANSACTIONS ADDRESS SUBMARKET SF SELLER/BUYER PURCHASE PRICE SALE TYPE

18362-18424 Oxnard St Tarzana, CA 78,349 A.M. Capital/Instil Bio $37,500,000 Owner User

4399 & 4401 Santa Anita Ave El Monte, CA 64,480 TDA Investment Group/Flugent Genetics $15,390,000 Owner User

1280 & 1290 Rancho Conejo Blvd Thousand Oaks, CA 59,750 First Industrial/Alexandria $11,175,000 Investment Sale

*1800 Stewart St Santa Monica, CA 159,500 Agensys/Kite Pharma (Gilead) $130,400,000 Owner User

*Older Transaction

Cushman & Wakefield’s Life Sciences Advisory Group provides real estate strategy, transaction structuring, and financial services geared to the specific operational and business requirements of biopharmaceutical, biotechnology, medical device, and pharmaceutical clients. The group is comprised of the firm’s leading life sciences professionals with a dedicated and coordinated effort to help our clients attract and retain top scientific talent, migrate to lower cost environments, monetize underutilized assets, efficiently use capital in the funding of new facilities, and gravitate to emerging therapeutic fields. Through our people, our powerful network and resources, we leverage the global markets so our clients can remain nimble in a highly competitive landscape.

CLICK HERE TO LEARN MORE ABOUT CUSHMAN & WAKEFIELD LIFE SCIENCES ADVISORY GROUP LOS ANGELES LIFE SCIENCES MARKET UPDATE

2021

195,820 44.2 Billion 2,890 TOTAL JOBS ATTRIBUTABLE TO THE LIFE SCIENCES INDUSTRY IN 2019 IN GOODS & SERVICES IN LOS ANGELES COUNTY IN 2019 LIFE SCIENCES ESTABLISHMENTS

LIFE SCIENCES VENTURE CAPITAL FUNDS IN LOS ANGELES

VC Investments in the Life Science sector for Los Angeles has increased by almost 10 times from $262M in 2016 to over $2B in 2020.

NIH FUNDING LA County received $1.7B during 2020 in NIH grants, more than any other county in California and over 34% of the total $4.9B in California.

LIFE SCIENCES INCUBATORS

13 incubators in Los Angeles totaling over 130,000 sf all at maximum capacity. HOSPITALS RESEARCH INSTITUTES LOS ANGELES BIOTECH COMPANIES NORTHRIDGE INCUBATORS BIOTECH CLUSTERS UNIVERSITIES LA NORTH (Cal State Northridge) AIRPORTS (Amgen)

PASADENA (Caltech to City of Hope)

EAST LA (USC/CSU)

RECENT NEWS WESTSIDE • Westlake Village Biopartners recently (UCLA to Lundquist) raised an additional $500 Million, bringing their total VC Fund to $820 M, focused on funding L.A. based life sciences companies.

• The Lundquist Institute is currently ORANGE working on a large expansion on their full- COUNTY service life sciences campus in Torrance. (UC Irvine) CUSHMAN & WAKEFIELD LIFE SCIENCES ADVISORY GROUP

LOCAL LIFE SCIENCES CLIENTS LUNDQUIST INSTITUTE INSERT THERAPEUTICS ALPHA THERAPEUTICS (GRIFOLS) G-CEPTOR SCIENCES ALEXANDRIA, INC. GENEOHM SCIENCES EPEIUS BIOTECHNOLOGIES PROTEIN PATHWAYS GENZYME CORPORATION XENCOR, INC. ATARA BIO NANOH20 NANOSTREAM,INC. NANOTECHNICA GENBASIX CLINICAL MICRO SENSORS HUNTINGTON REPRODUCTIVE CENTER ORBITS LIGHTWAVE, INC. CODEGROK, INC. MOTORLA LIFE SCIENCES

GLOBAL LIFE SCIENCES CLIENTS

ABZENA DEXCOM MITOTIX INC. SANFORD BURNHAM PREBYS ACTIVX ELI LILLY AND COMPANY MOLECULAR STETHOSCOPE SCRIPTGEN PHARMACEUTICALS ADDGENE, INC. F1 BIOVENTURES MONSANTO SEKISUI DIAGNOSTICS AJINOMOTO ALTHEA GENOMATICA N OF ONE INC. SEPATON ALEXION PHARMACEUTICALS GENZYME CORPORATION NITTO DENKO SEQIRUS INC ALLEN MEDICAL SYSTEMS, INC. HAEMONETICS CORPORATION OCULAR THERAPEUTIX, INC SEVION THERAPEUTICS ALTHEADX HELIX OCULAR THERAPEUTIX, INC. SHIRE, INC. AMBRX HERON THERAPEUTICS OMNI GUIDE STRAUS HOLDINGS INC AMIRA PHARMACEUTICALS HUMAN LONGEVITY OMNIOME SURGICAL SPECIALTIES APPLIED PROTEOMICS ILLUMINA OPTIMER SYNTHETIC GENOMICS ARCTURUS THERAPEUTICS INCEPTION SCIENCES ORGANOVO SYNTHETIC GENOMIC EXPANSION ARIAD PHARMACEUTICALS INSULET CORPORATION ORIG3N T2 BIOSYSTEMS ASPYRIAN THERAPEUTICS INTEGRA LIFE SCIENCES PAPGENE TAKEDA CALIFORNIA ASTELLAS IQUUM, INC PATHEON PHARMACEUTICALS THE BROAD INSTITUTE BEIGENE USA INC IRONWOOD PHARMACEUTICALS PEDIATRIC BIOSCIENCE THE ROCHE GROUP BERG PHARMA KEYSTONE DENTAL PFIZER INC. THORATEC CORPORATION BIOGEN IDEC LATIN HEALTH INSTITUTE PHARMAKEA UCSD BIOVERATIVE THERAPEUTICS LEUKOSITE, INC. PP MANUFACTURING VERENIUM CHIASMA, INC MABVAX THERAPEUTICS PSIVIDA CORPORATION VERICEL CORPORATION CIBUS GLOBAL MASS INNOVATION LABS (MILABS) RAPID MICRO BIOSYSTEMS VEROGEN CONFORMIS CONFIDENTIAL METACRINE, INC. RECEPTOS VERTEX PHARMACEUTICALS CONFORMIS, INC MICROBIOTIX, INC. RETROPHIN INC ZENO PHARMACEUTICALS CONFORMIS, INC. MILLIPORE CORPORATION ROCHE DIAGNOSTICS CV SCIENCES MIRATI THERAPEUTICS SAMUMED

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SHAUN STILES KATIE COWAN HAYDEN CLEGG EXECUTIVE DIRECTOR SENIOR DIRECTOR ASSOCIATE +1 213 629 5621 +1 213 629 6549 +1 213 443 1026 [email protected] [email protected] [email protected] CA Lic #01125641 CA Lic #01758914 CA Lic #02053411

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