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Venture capital financing for life science companies increases by 30%


Venture capital financing for life science companies increases by 30%

The San Francisco Bay Area has reported $5.3 billion in capital investment in 213 transactions in the life sciences sector so far this year, leading the 11 markets Savills included in its report. Notable second-quarter leases in this market included 13,500 square feet to Insitro, a data-driven drug discovery and development company, and 4,600 square feet to Corcept Therapeutics, a pharmaceutical company focused on cortisol modulation.

The Boston-Cambridge market has raised $3.7 billion in venture capital in 79 deals this year and welcomed the opening of Discovery Life Sciences’ new 550,000-square-foot office and lab facility in Malden, its third Boston-Cambridge-area location. Notable leases in the market include 120,192 square feet to biotechnology company Vericel and 111,119 square feet to Zoll Medical.

San Diego’s life sciences market saw $2.6 billion in venture capital funding across 84 deals in the first half of the year, and New York saw $2.3 billion in venture capital funding across 176 deals. The New York City Economic Development Corporation is moving forward with its plans for the 1.5 million-square-foot SPARC Biologicals development and has released a request for proposals as it enters the second phase of the Uniform Land Use Review Procedure (ULURP) process.

Other markets examined in the report include Denver-Boulder, which saw $442.3 million in venture capital on 34 deals in the first half of the year; Northern New Jersey, with $470.1 million in venture capital on 10 deals; Philadelphia, with $336.4 million in venture capital on 56 deals; Raleigh-Durham, with $643.9 million in venture capital on 30 deals; Seattle, with $345 million on 27 deals; Toronto, with $84.4 million on 15 deals; and Washington, DC, with $672.6 million on 73 deals.

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