Market Highlights

• LB Pharmaceuticals, a biotechnology company, raised almost $71 million dollars in Later Stage VC funding in Q3.
• Despite a slump in demand, New York developers are moving forward with new construction, such as recently completed West End Labs.
• LifeSci NYC – the $1 billion initiative to develop the life sciences industry in NY – announced that Science Park and Research Campus Kips Bay (SPARC), will add over 1.5 million square feet (msf) of academic, public health, and life sciences space by 2031.

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