BioView

GREATER

BOSTON

A look inside the Massachusetts Life Science Industry Winter 2014-2015

VENTURE CAPITAL FUNDING
Q2 2014

Growth in overall VC funding increased

year-over-year in the second quarter
of 2014 with 1,114 deals, totaling $13B.
Year-over-year this represents an 11%
increase in the number of deals and
an 85% increase in value.

$1.84B
74%

Through October 2014, Massachusetts has seen 15 biotech companies go public,

setting an annual record for the Commonwealth.

BIOTECH

Boston Venture Capital funding

trails only San Francisco in total
deal value raised.

MODERNA
THERAPEUTICS
SERIES B $110M

For the first time since 2008, the Global IPO market experienced a flurry of biotech
companies announcing an initial public offering50 biotech companies debuted
in 2013 raising $3.5B, a 300% increase from 2012 and the highest point since 2000.

TOTAL LIFE
SCIENCES
INVESTMENT

$2.5B

TOP 5 MA VC FINANCINGS
(2013 - 90 total biotech deals)

PUBLIC OFFERINGS

BY LOCATION

500M+

400M

KARYOPHARM
THERAPEUTICS
SERIES A, B $67.2M

DICERNA
PHARMACEUTICALS

invested in Cambridgebased biotechs

invested in biotech companies

in other MA communities

TOP DEALS IN Q2 2014 - NATIONWIDE

COMPANY

AMOUNT
RAISED

COMPANY

AKEBIA THERAPEUTICS

$100M

HISTOGENICS

$65M

TOKAI PHARMACEUTICALS

$97.2M

OCULAR THERAPEUTIX

$65M

ZAFGEN

$96M

GENOCEA BIOSCIENCES

$66M

UNIQURE

$91M

FLEXION THERAPEUTICS

$65M

DICERNA PHARMACEUTICALS

$90M

CERULEAN PHARMA

ELEVEN BIOTHERAPEUTICS

$90M

RADIUS HEALTH

SAGE THERAPEUTICS

$90M

MINERVA BIOTECHNOLOGIES

CONCERT PHARMACEUTICALS

$84M

ALDEYRA THERAPEUTICS

JOUNCE
THERAPEUTICS

INTARCIA
THERAPEUTICS

PROTEUS
DIGITAL HEALTH

$200M

$119.5M

$52M

CALIFORNIA

Even excluding these two deals, the biotech

industry still jumped 40% in investment
dollars since the beginning of 2014.

ZAFGEN
SERIES E $45M

37

NEW JERSEY

24

MASSACHUSETTS

1.2M

1,000,000 SF

= Other MA Communities

Sutton
89

Newbury

Early 2000s

800,000 SF

Concord
300,000 SF

Washington

89

20,000 SF

40,000 SFWindsor

Barrington

Northwood

Dover

Pembroke SF
250,000

138,000 SF

Madbury

180,000 SF
91,500 SF

Nottingham

Antrim

Gilsurn

Completes construction of
build-to-suit at 125 & 75
Opens drug
Binney Street, totaling
discovery lab at One
407,000 SF

Kendall Square (2001)

Occupies
10, 12, 14 and 15
Cambridge Center

Occupies over
315,000 SF at One
Kendall Square
(2011)

Completes two new buildings,

17 Cambridge Center & 225
Binney Street, adding
500,000+ SF, making its
Cambridge footprint
1+ MSF

Barrington

Nelson
Hancock

Candia

Harrisville

Moves
293
headquarters
to Cambridge at 100
Auburn
Manchester
Tech
Square (2002)

New Boston

Sanofi acquired Genzyme

and has 600,000 SF in
Jaffrey
Cambridge in addition
Sharon
to its footprint
in Framingham

Fitzwilliam

Wilton

Temple

Rindge

New Iswich

Mason

Brookline

Staffing needs dependent on number of drugs in development.

The more drugs, the more staff required.

Athol

Gardner
Templeton

Fitchburg

Lunenburg

Westford

Shirley

3.9 MSF

190

PHASE II

Bolton

2.8 MSF

Rutland

Holden

190

495

Worcester

Brookfield

Stafford

Ernst and Young Beyond borders: unlocking value Global biotechnology report 2014
MassBio Snapshot 2014

Southborough

Framingham

146

Dudley

Webster

Northbridge

Douglas

Uxbridge

Eastford

Quincy

Milton

Canton

Weymouth

Randolph

Norwell

Holbrook
Stoughton Avon
Sharon

AbingtonRockland Hanover

24

Brockton

Whitman

Foxborough

Wrentham

Sc

Braintree

93

Norwood

Medfield

495

Plainville

Pembroke

Hanson
Easton

W. Bridgewater

Mansfield

N. Smithfield

Cumberland

146

N. Attleboro

E. Bridgewater

Smithfield

Bridgewater

Norton

295

Attleboro

24

Central Falls

Taunton

495

Pawtucket

Putnam

N. Providence

295

95

Seekonk

Providence

Scituate
Cranston

Plympton

Raynham

Pomfret

Foster

Cohasset
Hingham

Halifax

Burrillville

Gloucester

2014 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any
projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct
a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
Mansfield
Chaplin
Brooklyn
Hampton
Coventry

5.2 MSF

Westwood

95

Blackstone

Hull

93

95

Dedham

Dover

Franklin

Lincoln

33 Arch Street, 28th Floor Boston, Massachusetts 02110

617.912.7000 Fax 617.912.7001

Nahant
Revere

Boston

Woonsocket

Union

Ashford

Swampscot

128

Needham

Norfolk

84

Willington

Marblehead

Medford Malden

Walpole

Sutton

PwC Money Tree Report, August 2014

Thompson
Woodstock
Bizjournals.com/Boston

Saugus

Medway

395

Tolland

Natick

Millis
Milford

Mendon
Southbridge

Wellesley

Holliston

495

Bellingham

84

Upton

Millville

Holland

90

Sherborn

Grafton
Millbury

Oxford

Lynn

Cambridge

Ashland
90

395

Charlton

Peabody

90

Westborough

Auburn
90

Manch

Beverly

Watertown
Wayland Weston

Northborough

290

128

Salem

Melrose

Arlington

Waltham

Sudbury

e
al
ed
op
H

SOURCES:

Hudson

Hopkinton

Staff transferred internally to upcoming

90
Phase II-III projects
depending on
pipeline = Reallocation of Space
Brimfield
Home-based sales force;
Sturbridge
marketing;
business
development
Monson
Wales

Leicester

128

Lincoln

Newton

Shrewsbury

Danvers

93

Lexington

Maynard

Marlborough

Worcester/495
N. Brookfield

Palmer

Route 128 West

95

290

Spencer

Significant growth to support future

needs prior to FDA approval =
Office Space
Office staffing increases to nearly
500 people per drug while
preclinical work drops off

Stow

Berlin

W. Boylston
Boylston

Paxton

PHASE IV
Warren

Concord

New Braintree

PHASE III

Woburn

Sterling

Oakham

W. Brookfield

Acton

Princeton

Paper Activities =
Barre
Office Space
Regulatory, safety, clinical,
data mgmt., statistical

N. Reading

Wilmington

Wakefield
MSF
95
Burlington 11.6

Bedford

Boxborough

Lancaster

Essex

Wenham

128

Harvard
Hubbardston

Hamilton

Reading Lynnfield

Carlisle

Ipswich

Topsfield

93

Billerica

95

Middleton

495

Ayer

Leominster

Ware

Rowley

Boxford

Tewksbury

Littleton

Hardwick

Georgetown

Andover

Chelmsford

Westminster

No space needs change

Always outsourced to
CROs. Preclinical is
continuing in parallel

495

N. Andover

Groton

PHASE I

Groveland

Dracut

Dunstable Tyngsborough

Pepperell

Orange

Petersham

Newbury

Methuen

Lowell

New Salem

Newburyport

Lawrence

Townsend

Ashburnham

Philipston

Salisbury

W. Newbury

MAJOR LIFE SCIENCE CLUSTERS

Ashby

Winchendon

Amesbury
Merrimac

Hudson

Pelham

Royalston

Warwick

125

Completes 610 Main Street

(cardiovascular, metabolic,
Atkinson Plaistow
and endocrine
diseases)
Windham
Haverhill
(230,000 SF)

Litchfield

Nashua

Hollis

Greenland

Moving HQ to Lexington
Hampton
E. Kingston
Sandown DanvilleTechnology Park. Continues
Hampton Falls
Has one
lab
Kingston
to be a leader Kensington
in global
location at
pharmaceutical
Seabrook
Derry Memorial Drive
620
products
Hampstead

Salem

CLINICAL DEVELOPMENT PROCESS & EMPLOYMENT

R&D Activities = Lab Space

High volume of scientists
(biochemistry; chemistry;
toxicology)

Chester

93

Amherst
3
In the midst of constructing
Merrimack
a 250,000 SF build-to-suit
at 300 Mass Ave,
Milford its Cambridge
making
footprint 800,000+ SF

Portsm
95

Newfields

Acquired TKT
Stratham
in early 2000s
and
101
Fremont
Brentwood
absorbed their
Exeter
footprint at 28 Osborne N. Hampton

Pfizer

Greenville

lle
Greenvi

Richmond

PRE-CLINICAL

Raymond

101

Goffstown

Founded out of
Francestown
the Whitehead
Institute
for Biomedical Research
(MIT) (1998)

293
Recently acquired by
Bedford
Square footage has
Employs 2,000 and
Formerly
Merck; Currently
Two Locations:
grown
to
300,000
SF
occupies
over 1 MSF
Genzyme, builds
employs 900 and has
space
Lyndeborough Lab
Mount
Vernonat 75 Sidney
at 301 Binney
Dublin Center
in Cambridge
Marlborough Genzyme
five drugs in its
and
office
space
at
350
Street
at 500 Kendall (2000) Peterborough
Londonderry
pipeline
Massachusetts Avenue
Swanzey

Troy

Newmarket
Epping

Sullivan

Headquarters
relocated and
construction begins at
65 Hayden Avenue in
Keene
Lexington,
MARoxbury

Hooksett

Sto
ne
ha
m

Surrey

Home-grown
biotech company
resides at 26
Lansdowne Street

93

Br
oo
kli
ne

Newington

Weare

Deering

Durham

Lee

Dunbarton
Stoddard

Elliot

16

Deerfield

Allenstown

Bow

20,000 SF

Berwick

500,000 SF

S
Epsom

Chichester

Henniker
Hillsboro

100,000
SF Marlow
Alstead

Strafford

93

Bradford

Aeworth

98,000 SF

N. Ber
16

Rochester

Warner

315,000 SF

Farmington

Webster

Goshen

415,000 SFLempster

Today

Loudon
Pittsfield

407,000 SF

Barnstead

Boscawen

600,000 SF

NEW YORK

PENNSYLVANIA

800,000 SF
Canterbury

Newport

Unity

$12M

1,000,000 SF

567,000 SF

$32.7M

IPOs ACROSS THE UNITED STATES (2013-JULY 2014)

SERIES A $47M

www.cbre-ne.com

$59.5M

= Cambridge

SERIES C $60M

600K

AMOUNT
RAISED

E. Providence

Rehoboth

195

Dighton

Berkeley

140

Lakeville

Life Sciences Group

Freetown

Middleborough