U.S. life sciences VC funding up nearly 30 percent so far in 2024
New report says the trend, if it continues, has the potential to stimulate leasing activity and chip away at the oversupply of space.
In the first half of 2024, U.S. life sciences venture capital funding surged by nearly 30 percent compared to the same period in 2023. That’s according to a new report from Savills which notes that, “if this investment trend continues, it has the potential to stimulate leasing activity and chip away at the oversupply of space.” Founded in the United Kingdom in 1855, the company is one of the world’s leading real estate service providers.
Other takeaways from the report include:
- A substantial amount of the life sciences development pipeline is set to be delivered through the end of the year, adding space to an already saturated market. The delivery of new developments amid soft market conditions provides tenants the option to relocate and consider brand new facilities.
- Smaller leases have been the primary driver of demand nationwide in the first half of the year, as many occupiers remain cost-conscious. After several years of an uncertain investment and economic environment, many tenants that previously occupied
larger spaces are looking to densify their footprint or are delaying leasing decisions.
The report that covers 11 North American markets – the closest in Raleigh-Durham, NC region – can be found here.
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