June 8, 2020
More than 46 Boston area life sciences organizations are currently involved in COVID-19-related endeavors, according to the most recent CBRE Boston Life Sciences MarketFlash. Those endeavors include partnering with leading industry experts to design, develop and test treatments, therapies and drugs to combat the health effects and transmission of the virus.
According to CBRE, there are 13 firms developing new types of diagnostic tests and 24 firms that are producing COVID-19 related drugs, vaccines and therapies. Five Boston firms that are working on COVID-19 related projects have received a combined $227 million in venture capital funding.
“The life sciences industry continues to experience the influx of capital and an overall positive sentiment that have contributed to positive activity in the sector,” said Steve Purpura, a vice chairman specializing in the life sciences industry at CBRE.
“Since early March, 11 life sciences leases totaling over 300,000 square feet have been completed in the Greater Boston area, which includes three new leases totaling more than 100,000 sq. ft. since the beginning of April.”
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