Up and coming

Houston named a top city for emerging life sciences market

Houston, home to the largest medical center in the world, was ranked the second in the nation for emerging life science clusters. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

From a real estate and employment perspective, Houston is the second in the nation for emerging life sciences market, according to a new report.

CBRE released the top 10 cities for life sciences, as well as nine cities that have seen recent growth in the industry. While the Northeast and California dominated the list of the established markets, three Texas cities took top spots on the emerging list. Austin ranked behind Houston at No. 3 and the Dallas/Fort Worth area claimed the No. 7 spot. The top emerging life science cluster was the Seattle area.

The ranking was based on each metro's three-year growth in life sciences employment, National Institutes of Health funding, life science educational opportunities, number of medical research and health-services institutions, and the amount of high-tech workers.

"We've watched the life sciences sector for quite a few years in Houston as it steadily grew, but within the past few years it has grown exponentially," says CBRE Houston's First Vice President Scott Carter in a release. "TMC3 is obviously going to be a catalyst for continued growth in life sciences."

The growth within the industry has translated from employees and research to real estate, and Carter says CBRE currently has the 224,931-square-foot Texas A&M ALKEK building on the market — most of the facility is laboratory space.

"There has been substantial interest from investors in the top established life science markets," he continues. "They recognize Houston as an emerging market and see the value of placing capital in the Houston area."

The country's venture capital funding for the industry increased 86 percent last year to $15.8 billion, and, according to the release, the lab space under construction in the top five metros for life science growth expanded 101 percent last year to 6 million square feet.

"Multiple indicators point to sustained, strong growth for the life sciences industry, which makes life sciences labs and offices an ideal focus for developers and investors," says Steve Purpura, vice chairman leading CBRE's life sciences business. "Few industries offer this much expansion potential, but much of the activity happens in a select number of special markets."

Via the CBRE report

A new accelerator program will aim to advance cancer therapeutics technology. Photo courtesy of TMC

The Texas Medical Center is taking a step forward in cancer prevention and treatment thanks to a multimillion-dollar grant from a Texas organization.

Last month, the Cancer Prevention and Research Institute of Texas announced 71 new statewide grants that totaled $136 million. TMC was the recipient of a $5 million grant that is being used to develop a new accelerator geared at designing new cancer therapeutics treatments.

"Texas Medical Center is proud to be among the esteemed organizations chosen by the CPRIT from across the State of Texas that have been targeted to continue to take the fight to the front lines when it comes to cancer and its deleterious effects on patients and their loved ones," says TMC CEO and president, Bill McKeon, in a release.

TMC | ACT, which stands for Accelerating Cancer Therapeutics, will be a nine-month program of biotech entrepreneurship training and drug development.

"This funding will be critical to the success of our newly formed TMC | ACT program, which will unite business, pharmaceutical, and academic leaders from across the country with the world's largest medical city in order to accelerate the translation of cancer breakthroughs into new drugs that will help save the lives of an untold number of cancer patients," McKeon continues in the release.

The program will bring together startups and researchers for training and mentoring for lessons in market research, FDA regulation, intellectual property, licensing, fundraising, and more. According to the release, the program will conclude with at least one grant and a venture capital pitch day.

This is the second new program TMC has launched this year; TMCalpha was announced in June at the TMCx pitch event. This new program is also geared at connecting research and commercialization and hosts regular events for TMC staff members who have early-stage medical technology ideas.