Frenzy in Mission Bay “Dashes Dreams” of Biotech Hub

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Frenzy in Mission Bay “Dashes Dreams” of Biotech Hub

Excerpt from SFChronicle:

“In the battle for San Francisco real estate, biotech firms will always be outgunned.

“You don’t see biotech growing at the same rates as the high-flying technology companies,” said Chris Haskell, who runs Bayer’s innovation center in Mission Bay. “Biotech is just more capital intensive.”

Whereas software startups can quickly expand, a drug startup requires 10 to 15 years to even get a product to market. You don’t need federal approval to release a mobile app. Biotech firms, however, must get past the Food and Drug Administration, an agency not exactly known for speed.

So a biotech startup can’t afford to just fork over $125 million to build a 422,000-square-foot headquarters in Mission Bay, as 6-year-old Uber recently did along with Alexandria Real Estate Equities.”

Full article


May 22nd, 2015|