Developers are laying the foundation for a new biotech complex in California
Over the last few years biotech has been blossoming up and down the Peninsula south of San Francisco. And now it looks like San Carlos, CA could be the next city to see a big biotech boom.
Well known biotech developer Alexandria Real Estate Equities has snapped up property on the city’s East Side that could make more than a million square feet of space available to life sciences companies.
“San Carlos has quietly been gaining momentum in the area of biotechnology growth,” community development director Al Savay told the local Daily Journal. “It’s sort of a new market opening up in San Carlos.”
To help build the momentum the town is hosting a new life sciences incubator while beginning to look at new ways to woo more established companies around the Bay Area.
San Francisco and Boston/Cambridge tend to rival one another for biotech growth, with each scoring high on attracting the lion’s share of venture dollars and attracting the Big Pharma outfits like Merck, which have been migrating toward the big global hubs. The trend has helped fuel a burst of development around Oyster Point in South San Francisco, where you can find a big lineup of drug developers dreaming to one day achieve the kind of success that made Genentech the flagship operation in the region.
But the growth phase is clearly not over yet.