Public Biotech Makes Up Just 1.1% of Alexandria’s Q3 Leasing as Seattle’s Pipeline Thins

Publicly traded biotech companies accounted for only 1.1 percent of the 1.24 million square feet Alexandria Real Estate Equities leased in the third quarter, a stall its founder traced to cash-strapped clinical-stage drug developers, and one that matters in Seattle, where lab demand has leaned on venture-backed biotechs and funding has fallen by more than half.