Denver-Boulder Emerges as Major Hub for Life Sciences Industry
The Denver-Boulder region is quickly becoming a powerhouse in the life sciences industry, attracting companies that are at the forefront of developing cutting-edge medical treatments and technologies. This transformation has been fueled by a surge in venture capital and government funding, a collaborative research environment, and a growing market for lab space.
One major player in this transformation is BioMed Realty, a San Diego-based real estate company acquired by Blackstone in 2016 for $8 billion. BioMed Realty made headlines in 2022 with a record-breaking $625 million purchase of Flatiron Park in Boulder, Colorado. The massive complex is being converted into state-of-the-art lab and tech space to meet the region’s increasing demand.
Tim Schoen, CEO of BioMed Realty, highlighted Boulder’s unique innovation ecosystem, which includes research universities, scientists, venture capital, and critical infrastructure provided by companies like BioMed Realty. The firm operates in several core life science and tech markets, including Boulder, San Diego, San Francisco, Seattle, and the Boston area.
According to CBRE, the Denver-Boulder market saw significant growth in lab space demand, with 14 companies seeking a total of 506,000 square feet in 2023. Additionally, 370,000 square feet of lab space was completed and move-in ready, with another 560,000 square feet under construction or renovation.
Investors are taking notice of the region’s potential, with Elyse Blazevich, president and CEO of the Colorado Bioscience Association, noting that early-stage funding in Colorado grew faster than other life sciences markets in the country. The association supports the growth of life sciences by focusing on access to capital, education, and networking.
The Denver-Boulder region’s success in attracting venture capital builds on its track record of entrepreneurial achievements. Companies like Edgewise Therapeutics, founded by Kevin Koch in Boulder, have seen significant success in developing therapies for rare muscle disorders. Edgewise has raised over half a billion dollars in funding and plans to expand its footprint in Boulder.
The region’s innovation ecosystem is further bolstered by the presence of the University of Colorado’s Anschutz Medical Campus in Aurora, which is a hub for life sciences research. The campus’s Center for Drug Discovery, led by Dr. Dan LaBarbera, focuses on accelerating the process from drug discovery to delivery for patients using cutting-edge technology.
Overall, Denver-Boulder’s rise as a major hub for the life sciences industry is a testament to the region’s collaborative spirit, access to funding, and commitment to innovation. With a growing pool of qualified workers and a strong track record of success, the region is poised to continue its growth as a leading center for life sciences research and development.
