Space: the final frontier

Niall Martin, COO of Mission Therapeutics, is stumped. This comes as little surprise given his company’s business is “developing small molecule drugs to target deubiquitinating enzymes involved in the DNA damage response, with the aim of inducing synthetic lethality”. But that’s not the problem. It’s space. “We’ve got 35 people and we could expand. We’re looking to get finance, we’re looking at grants and deals with other companies, and all of those are bringing in headcount. We could go to 45 within the next few months but we just don’t have the space to do that.”
This is the challenge facing many SME firms in the UK life sciences industry, the subject of this special report for Estates Gazette. The government wants the UK to become the global hub for life sciences, a sprawling £868bn mega-sector spanning pharmaceuticals, medical technology and biotechnology and encompassing everything from hospital equipment and prosthetic limbs to drug development and gene therapy. But SMEs are the lifeblood of the industry, and if they can’t find suitable lab space, they can’t grow. The fundamental problem seems to be reconciling biotech’s dynamism with property investors’ craving for certainty. Laboratories are expensive to build and highly specialised for different fields, but corporate life cycles are short and unpredictable. Firms may swell exponentially when their eureka moment arrives, or disband overnight if it turns into a dead end. So what’s the answer? I spoke to people across the property and life sciences sectors trying to make a breakthrough.

EG_Life sciences report

Author: Katie Puckett

I'm a journalist who has been writing, editing and subbing business magazines for nearly 20 years. I write regularly on all aspects of the built environment – architecture, engineering, construction, property, investment, housing, planning, economics, sustainability, climate change adaptation, technology, insurance – and I’m always up for getting to grips with new topics. I’m also co-founder of Wordmule, a company that creates bespoke editorial and marketing content about buildings and cities.