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2022 Q1 U.S. Life Sciences Market Report

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Record Venture Capital Funding Is Driving Breakthrough Discoveries And Need For Space

The life science industry is on a record run. Venture capital funding (VC) continues to pour into early-mid- and late-stage companies at a historic pace. National Institutes of Health (NIH) funding is set to grow in fiscal year 2022, IPO numbers have never been higher, and big pharma is investing in promising therapies, further fueling the fire. As a result, VC fundraising and the cycle of investment have soared, while the need for these companies to scale will continue. The nation’s leading life science hubs have been the main beneficiaries, led by Boston and the San Francisco Bay area. They have captured nearly 60% of all VC deals, per data from PitchBook, and other established markets such as Philadelphia and San Diego have also attracted tremendous deal flow. Growing clusters such as Raleigh-Durham, New York, and Seattle have as well.


2022 Q1 U.S. Life Sciences Market Report

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Joseph Fetterman

Executive Vice President | Healthcare and Life Sciences


Joe joined Colliers International in 2012 to lead and grow Colliers’ Office Brokerage Division.  Today he focuses on providing strategic solutions to local, national and global Health Care, Life Sciences and Corporate clients. Joe’s background in architecture, real estate development and financial analysis provides clients with an experienced professional and strategic leader who integrates  complex factors to create successful results for clients

Joe is a Healthcare Fellow and serves on Colliers National Healthcare Services and Life Sciences Steering Committees. 

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Michael Brown

Senior Vice President


As the National Leader of Colliers Global Life Science Practice Group, I bring 43 years of commercial real estate experience and 22 years of experience focusing on life science real estate. My acquired knowledge in life science work has been on both the landlord (Wexford Science & Technology) and the tenant side within the industry.

I have experience with Advanced Therapeutic Medicinal Products, Parenteral Fill Finish, Solid Oral Dosage, Biologics, and Medical Device manufacturing facilities, as well as a solid background in Laboratory Research and Development/Pilot scale facilities and controlled environments. Through my work on local, regional and national site selection assignments, I have developed a firm grasp of the rigorous process required to meet the key search criteria of my clients.  

My knowledge of market conditions and influences in the life sciences supports my ability to be creative in structuring the financial details of both lease and purchase transactions. My network of a wide variety of trusted advisors within the industry facilitates a regular flow of information about life science real estate trends, pricing, and comparable data for leasing and sales transactions.

Personal Goal:

To make sure that our team can deliver insightful and thoughtful life science real estate strategies to our clients, regardless of company size and the challenges they may face in entering and exiting the clinic successfully.

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David Burden

Principal and Executive Vice President

Chicago - Downtown

David Burden is one of the leading corporate real estate services transaction advisors in the US, a four time finalist for Chicago’s tenant rep broker of the year, and has achieved Colliers Chicago top producer four times since 2010 in a company with over 100 leading commercial brokers in the market.

David specializes in tenant representation for office, lab, industrial, retail, education and specialty facilities.  He leads team of six professional who specialize in local brokerage and account portfolio management.  They have completed thousands of transactions including renewals, new leases, build to suits, purchases and sales transactions.  

David is a leader in several practice groups, including Financial & Insurance Services, Life Science Practice Group, and the Education Services Group.  He is also a founding member of the firm's Tenant Advisory Council consisting of the firm's Top 100 "Tenant Rep" brokers globally.  His comprehensive approach including assisting clients to identify an efficient space program; impartially survey all viable properties; tenaciously negotiating favorable terms; and procuring archiects, contractors and consultants for implementation.  His team provides a one stop solutions for account management, lease administration, workplace strategy, labor analytics, capital markets, project management, and incentives procurement services. 

Prior to joining Colliers in 2008, he worked in similar capacities at competitors CBRE and C&W.  Earlier in his career, David also worked on Capitol Hill developing a specialty in economic incentives and later as a site selection consultant at Arthur Andersen LLP before earning his MBA and focusing on corporate real estate advisory and brokerage services.

David and wife Kristy met at the University of Illinois, married in 2001, and are blessed with three teenage sons.


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Aaron Jodka

National Director of Capital Markets Research


As Director of Research | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. He synthesizes and interprets a variety of data and information to stay ahead of trends that put our clients in an optimal position to make informed decisions. Aaron promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events.

Aaron collaborates with every team at the firm and wears many hats: in-house economist, advisor, consultant, thought leader, strategic business analyst, presenter, and, of course, researcher. He connects with various industry experts within the Colliers organization to provide a customized solution for each client.

With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions.

Before joining Colliers, he spent 11 years with Property & Portfolio Research (PPR), now CoStar Portfolio Strategy. There, he advised institutional clients on their commercial real estate investment strategies across property sectors and also spoke at industry events, quarterly CoStar webinars, and in front of client audiences. Aaron also led and directed a team of economists who monitored property markets across the United States. Near the end of his tenure, he helped establish a new business unit at CoStar, leading in the hiring, training, and coaching of a team of 50 market analysts. 

Outside of the office, Aaron can be found cheering on his children at their extracurricular activities. He also enjoys hiking, travel, relaxing at home or at the lake, or plugging away at one home project or another. Last but not least, he's an avid fan of Boston sports teams.

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