Biomedical

The global life sciences industry has been on the rise, growing more rapidly than ever over the past decade—well before the pandemic struck. In fact, its trajectory only accelerated throughout 2020 and into early 2021—with demand for its products surging and access to capital continuing to greatly expand in both periods. A record $70 billion of private and public capital (mostly venture capital and initial public offerings) poured into life sciences-related companies in North America in 2020, a 93 percent increase from the previous record of $36 billion received in 2018. And if investment continues at the pace we’ve seen in the first quarter of 2021 (already totaling $32.9 billion), we could see somewhere in the area of $90 billion raised this year alone. With COVID-19 challenging the sector last year like never before, the industry has clearly proven itself, sparking a light that illuminated a better way to work, collaborate, and innovate toward the hope of a vaccinated future. The speed at which COVID-19 vaccines have been developed and rolled out is a huge achievement for the pharmaceutical and biotechnology industries and is also a testament to the power of global collaboration. Now that we know what’s achievable in a relatively short amount of time, many will ponder what’s next for the life sciences industry. What else is it capable of doing? With the recent success of the COVID-19 mRNA vaccine technology, many researchers are increasingly seeing expanded possibilities in the technology to fight against infectious diseases, cancer, and more. This acceleration of the life sciences industry comes at a critical time, demonstrating the sector’s value and agility when the stakes have been so high.

The University of Victoria will break ground in early 2022 on a CAD$89.6 million project to provide new facilities for the Department of Engineering and Computer Science (ECS). A six-story addition to the existing ECS building will feature new laboratories and instructional venues for the university's growing programs in biomedical, civil, computer, electrical, mechanical, and software engineering. The adjacent High Bay Research and Structures Lab will enable large-scale experiments and the testing of new construction methods and materials.

Nexus Pharmaceuticals opened a $100 million manufacturing facility in July of 2021 in Pleasant Prairie, Wis. Increasing the nation's domestic supply of life-saving medicines, the 84,000-sf structure will produce specialty and generic injectable drugs, including vaccines for COVID-19 and other infectious diseases. The three-story building features an advanced isolator system and multiple lyophilization machines to ensure maximum product protection and sterility.

Rutgers Cancer Institute of New Jersey and RWJBarnabas Health broke ground in June of 2021 on the $750 million Jack & Sheryl Morris Cancer Center in New Brunswick. Designed by HOK, the 510,000-sf structure will enable the consolidation of key cancer services in a single integrated location.

DivcoWest broke ground in June of 2021 on a 375,000-sf life sciences facility in the Cambridge Crossing innovation district. Designed by Ennead Architects with Jacobs Consultancy as the architect of record, the collaborative building will provide leading-edge research environments for biomedical and pharmaceutical tenants. Comprising ten floors of lab space, two penthouse levels, and multiple outdoor terraces, the project will offer generous ceiling heights with minimal interior columns for optimal flexibility.

AbCellera Biologics is planning to break ground in late 2021 on a manufacturing plant for therapeutic antibodies in Vancouver, British Columbia. Supported by $175.6 million in federal funding, the 130,000-sf project will cost approximately CAD$240 million to build. Offering advanced production suites, labs, offices, and warehouse space, the GMP facility will enhance the country's ability to create vaccines in response to future pandemic threats.

Winstanley Enterprises broke ground in June of 2021 on a $100 million bioscience research center in New Haven, Conn. Designed by Elkus Manfredi Architects, the 10-story, 525,000-sf facility will provide leasable laboratory and office environments for biomedical companies and academic institutions. Featuring a large public plaza, the collaborative structure will include a 48,000-sf business incubator operated by BioLabs, a conference center, and a STEM classroom for K-12 education programs.

Kilroy Realty Corporation broke ground in June of 2021 on the second phase of construction at Oyster Point in South San Francisco. Comprising three buildings offering 860,000 sf of space, the $940 million project will provide leading-edge lab and office environments for biomedical and pharmaceutical tenants. LEED Gold sustainable design certification will be sought for the structures, which will incorporate 40,000-sf open floor plates, 22' by 33' column spacing, 16' floor-to-floor heights, and a floor load capacity of 125 pounds per square foot.

Pfizer is constructing the $465 million Modular Aseptic Processing (MAP) facility on its existing campus in Portage, Mich. Integrating advanced manufacturing technologies, the 400,000-sf project will feature next-generation automation systems for the production of sterile injectable pharmaceuticals. The project, which will create approximately 450 new jobs, is part of a $1.1 billion investment in Kalamazoo County. Ground was broken on the facility in March of 2021 and completion is expected in 2023. Production operations will commence in 2025. 

Trammell Crow Company opened the 301,260-sf Fulton Labs facility in Chicago in May of 2021. Developed in partnership with Portal Innovations, the 14-story life sciences hub provides leasable wet and dry research environments with column-free spans for maximum lab module efficiency. Offering vivarium access and 22,000 sf of luxury amenity space, the project incorporates mobile lab casework, overhead service carriers, robust mechanical and electrical systems, and smart windows for the protection of sensitive materials and equipment.

Moderna is initiating a major expansion of the 300,000-sf Moderna Technology Center in Norwood, Mass. Providing additional production capacity for mRNA vaccines and therapeutics, the 350,000-sf project will include the acquisition of a 240,000-sf structure and the renovation of existing buildings. Enabling a 50 percent increase in the plant's commercial COVID-19 vaccine output by early 2022, the new facilities will also support the creation of thousands of preclinical research samples per month.

Vermeulens has released its market outlook report for the first quarter of 2021. Key points include:

Greatland Realty Partners began construction in April of 2021 on Revolution Labs in Lexington, Mass. Designed by SGA, the three-story, 180,000-sf life sciences building will provide leasable laboratory and office facilities for biomedical and pharmaceutical companies.

The International Society for Pharmaceutical Engineering has announced the 2021 Facility of the Year Awards category winners. The awards include:

Life sciences developer IQHQ began construction in April of 2021 on the $1 billion Fenway Center in Boston. Created in collaboration with Meredith Management, the biomedical research hub will be situated over the Massachusetts Turnpike on an air rights deck. The amenity-rich campus will include two towers offering 960,000 sf of leasable lab and office space, 10,000 sf of ground-floor retail, and an automated parking garage.