San Diego’s Biotech Scene: Steady Growth, Solid Future

We stumbled upon a great dataset for San Diego Biotech funding from 2019 to Q3 of 2024, published by Biocom in collaboration with Deloitte, and with the help of our awesome data science intern, Abigail Lee (Abby) – Data Science sophomore at UCBerkeley, we did some digging. Here’s what we found!

As you can see in the race chart, there was a massive funding spike during COVID-19, but what we’re seeing now is funding returning to pre-COVID levels, and that’s not a bad thing. We’re stabilizing, not falling off a cliff. Honestly, the COVID bump gave a bit of a false impression that things are low now, but the data says otherwise. If current trends hold, 2025 could bring another uptick in funding. That’s something to get excited about.

We also noticed the life sciences vacancy rate hit 16.7% in Q2 of 2024. Sure, that’s up from the previous quarter, but this is largely because of new lab spaces being built. More space means more room for growth! We don’t see this as a reason to worry but rather a sign that companies are getting ready for something bigger. Of course, things like the election, inflation, and federal rates will influence the path forward, but the data suggests that 2025 looks promising for our biotech community.

Biotech

San Diego is home to one of the largest biotech centers in the United States, with a skilled workforce, access to investors, and affordable lab spaces. The city is also home to many notable life sciences organizations, including:

• UC San Diego
• The Salk Institute
• Scripps Research
• Sanford Burnham Prebys

These institutions are paving the way for innovation in our region.

Tech

And let’s not forget about tech! The industry is thriving here, with:

• 60% of firms offering flexible work arrangements
• 75% focusing on mental health with wellness programs
• A 40% increase in career development investments

We love being part of this collaborative community here in San Diego, where startups and companies are open to sharing resources and growing together. We’re moving with purpose, and that’s what makes our ecosystem so special.

Here is a list of biotech companies in San Diego that have raised more than $100M in 2024 so far:

1. ENLAZA THERAPEUTICS: Developing targeted protein degraders for cancer treatment.
2. BOUNDLESS BIO: Developing therapies targeting extrachromosomal DNA in cancer.
3. CONTINEUM THERAPEUTICS: Focused on neurodegenerative diseases and neuroinflammation.
4. ALTEROME THERAPEUTICS: Developing precision oncology therapies for specific cancer mutations.
5. ENDEAVOR BIOMEDICINES: Developing therapies for oncology and fibrosis.
6. RAPPORT THERAPEUTICS: Developing therapies for neurological disorders.
7. AVENZO THERAPEUTICS: Developing small molecule therapies for cancer.
8. ENGRAIL THERAPEUTICS: Developing therapies for neuroscience indications.
9. ARTIVA BIOTHERAPEUTICS: Developing off-the-shelf allogeneic NK cell therapies for cancer.
10. CAPSTAN THERAPEUTICS: Developing in vivo cell engineering therapies.
11. ELEMENT BIOSCIENCES: Developing DNA sequencing technology.
12. MIRADOR THERAPEUTICS: Developing precision medicines for cancer.
13. AVIDITY BIOSCIENCES: Developing antibody-oligonucleotide conjugates for rare diseases.

Feel free to download the dataset we used to generate the race chart here (this dataset wes generated by Biocom California and Deloitte, and to the extent that we could double check, we believe the data is accurate). We encourage you to go to the Biocom California website for a comprehensive 2024 Life Science Economic Impact Report by Biocome and Deloitte

Disclaimer: This post is a blog that represents our opinions and observations. The data and insights shared are for informational purposes only and should not be considered investment advice. Please consult with a financial advisor or conduct your own research before making any financial or business decisions.