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The Mid-Atlantic's Life Sciences Path Forward

Exploring key investment opportunities, growth drivers, talent development, infrastructure, and public-private partnerships

Bibhash Mukhopadhyay

Bibhash Mukhopadhyay

CEO

Sapient Biotech

Deborah Hemingway

Deborah Hemingway

Managing Partner

Ecphora Capital

Thomas Haag

Thomas Haag

Co-Founder & CEO

Linden Lake Labs

John Newby

John Newby

CEO

Virginia Bio

Susan Mitchell

Susan Mitchell

CEO & Founder

Athari BioSciences Inc.

Abhishek Dhawan

Abhishek Dhawan

Life Sciences Core Market Leader

DPR Construction

Judy Costello
Moderator

Judy Costello

Director, Economic Development and Special Projects

Montgomery County Government

Bibhash Mukhopadhyay

CEO

Sapient Biotech

Bibhash is an investment fund manager, investor, company builder and board member with almost 2 decades of experience in biotech. He is the CEO of Sapient Biotech, which is currently building a sector-specialized investment fund that invests exclusively in biotech companies, both private and small-cap public, with a fundamental, bottom-up, absolute-return strategy. It is also building a fund focused on rare diseases with a double bottom-line mandate for return on mission and return on investment. Through DW Wealth Management, he also advises various Family Offices and Disease foundations on investing in the healthcare sector. Previously, he was a co-founder and GP in Sound Bioventures and an investor with the biotech practice of a large, diversified venture fund, NEA. Prior to that he has operating experience in business development, portfolio management and corporate strategy functions at both AstraZeneca and Johnson & Johnson. He has led, managed and exited multiple private and public biotech investments, participated in multiple major in-licensing, divestiture and acquisitions and cross-border Europe / US deals and has had advisory roles in several life science incubators and healthcare delivery non-profits. His education spans 3 continents culminating with a PhD in the biology of retinal degeneration from Baylor College of Medicine.

Deborah Hemingway

Managing Partner

Ecphora Capital

Founded by a female, solo-GP with a PhD in Biophysics, Ecphora Capital’s founder boasts an extensive background, having deployed over $15M into medical startups. Additionally, she has been involved in the founding, funding, and board membership of 53 startups allowing for unparalleled expertise and support to portfolio companies.

Thomas Haag

Co-Founder & CEO

Linden Lake Labs

Thomas is Managing Partner of Linden Lake Venture Capital. He is a biotechnology investor, entrepreneur and intellectual property lawyer. Most recently he was CEO of Linden Lake portfolio company, AexeRNA Therapeutics, a next-generation mRNA lipid nanoparticle technology company he co-founded with the late Michael Buschmann of George Mason University and Drew Weissman at the University of Pennsylvania. AexeRNA was acquired by a large publicly traded biotechnology company. He also served as CEO of Linden Lake portfolio company C-Reveal Therapeutics, an immuno-oncology therapeutics company spun out of the Massachusetts General Hospital and Harvard Medical School co-founded with Mark Cobbold, Pam Sharma and Keith Flaherty. He was also a co-founder, and Interim CEO of PhosImmune, Inc., an immuno-oncology company co-founded with Donald Hunt at the University of Virginia and acquired by Agenus, Inc. (NASDAQ: AGEN).

During his legal career he served as partner and co-Chair of Seyfarth Shaw LLP’s Life Sciences IP Practice. Prior to its acquisition by Seyfarth, he was Chair of Fanelli Haag PLLC a preeminent life sciences focused D.C. law firm. Thomas was also General Counsel of Arrowhead Research Corporation (NASDAQ: ARWR). While at Arrowhead he also served as CEO of Tego Biosciences, an ARWR portfolio company, which was acquired by Luna Innovations (NASDAQ: LUNA). He graduated from The George Washington University Law School. He earned a B.S. in Biology and Ph.D. in Molecular, Cell & Developmental Biology from UCLA where he was an NIH Pre-doctoral Fellow in Genetics.

John Newby

CEO

Virginia Bio

John Newby is the CEO at Virginia Bio, the statewide non-profit trade association for the

life science industry. Nearly 300 entities spanning biopharmaceuticals, medical device,

med tech, diagnostics, digital health, bioinformatics, agriculture and industrial bio and

related fields are based in Virginia, mainly clustered around research universities and

medical institutions. Virginia Bio is the sole state affiliate and works closely with key

national industry organizations Biotechnology Innovation Organization (BIO), AdvaMed,

Medical Device Manufacturers Association (MDMA), Pharmaceutical Research and

Manufacturers Association (PhRMA) and We Work for Health.

Newby was formerly the Commissioner of the Virginia Department of Veterans Services

(VDVS), where he led an 850-member Agency located across 50 Virginia locations,

delivering employment, education, benefits, behavioral health and long term health care

services to Virginia’s Reservists, Guardsmen, transitioning service members and

725,000 veterans. Prior to leading VDVS Newby practiced corporate, intellectual

property and Hatch-Waxman biopharmaceutical law at international law firms in

Richmond and Washington DC, and at a multinational company. Newby previously

commanded an Air Force special operations unit supporting the U.S. Army’s 3rd and 7th

Special Forces Groups (Airborne), and served in Iraq as an aviator aboard the Boeing

B-1B Lancer strategic bomber. Newby received a B.S. from the United States Air Force

Academy, with Military Distinction, and his J.D. from the University of Virginia School of

Law.

Susan Mitchell

CEO & Founder

Athari BioSciences Inc.

Susan Mitchell has a 20+-year track record of success delivering grants management, research and evaluation, logistics, and technical assistance solutions to government, industry, and the community. Susan is committed to improving access to and success in education, healthcare, workforce, and economic development. Ms. Mitchell serves on the board of directors for Virginia Career Works and STEM for Her, is a Loudoun County Chamber of Commerce GovCon Committee Chair, and was tapped to serve on the Loudoun County Economic Development Advisory Commission (Life Sciences Sector), appointed by the Board of Supervisors and supports DEIA efforts as the Chair of the Loudoun Chamber Toolkit subcommittee. With innovation, education and empowerment as cornerstones, she leads a team of doctors and scientists dedicated to using their Sterling, Virginia CLIA diagnostic testing lab as an asset for the progression of therapeutic developments. She and her team are a driving force behind social and health equity endeavors that positively impact population health, product commercialization, and pipeline development.

Judy Costello

Moderator

Montgomery County Government

As Director of Economic Development and Special Projects, Judy Costello works for Montgomery County Maryland’s County Executive on a variety of projects related to business growth and retention, innovation, and economic development. Before joining Montgomery County, she worked for BioHealth Innovation (BHI), a Washington, DC area nonprofit focused on growing the biohealth industry in the region, as Managing Director of Economic Development. Prior to joining BHI, she served as Director of the Maryland Department of Commerce’s Office of BioHealth and Life Sciences and as Deputy Director of the department’s BioMaryland Center. In these positions, she worked to grow Maryland’s biohealth industry cluster by supporting company recruitment and retention, commercialization, workforce, non-dilutive and dilutive fundraising, international soft landing, partnership, and promotion activities. Judy previously managed the nonprofit Business Alliance for Innovation and Entrepreneurship organizing venture pitch forums, entrepreneur bootcamps, technology transfer showcases, educational seminars, and other programs connecting entrepreneurs, faculty innovators, students, and industry leaders in Maryland, DC and Virginia with each other and with those providing funding and other resources to young companies. Before serving as Executive Director of the Business Alliance, Costello held positions in financial services marketing, economic development, and university public relations in New York City, Virginia, and Washington, DC. Judy is a graduate of Georgetown University, and holds a MBA from Loyola University in Maryland. Born in Washington, DC, she grew up on a farm in Western Pennsylvania, and has lived in Montgomery County, Maryland supporting entrepreneurs and other growing companies in the region since the mid-1980s.

The Leasing Outlook: Market Trends, Deal Terms and Tenant Strategies

Explore how evolving demand, current deal structures, and tenant priorities are redefining the leasing landscape.

Amina Ayodeji-Ogundiran, Ph.D

Amina Ayodeji-Ogundiran, Ph.D

Assistant Professor and Program Coordinator

Bowie State University

Brian Darmody

Brian Darmody

CEO

Association of University Research Parks (AURP)

Kevin Reap

Kevin Reap

SVP

CBRE

Matt Brown

Matt Brown

Vice President

South Duvall

Dr. Stefanie Trop

Dr. Stefanie Trop

Director, Life Sciences

Maryland Department of Commerce

Joe D’Alù

Joe D’Alù

Architectural/Mechanical Engineer & Project Executive

SETTY

Bob Zhang
Moderator

Bob Zhang

Head of Business Development

HCEDA

Brian Darmody

CEO

Association of University Research Parks (AURP)

Brian Darmody serves as CEO of the Association of University Research Parks (AURP), a global nonprofit building communities of innovation in 42 states and 12 countries sponsored by universities, hospital systems, government labs and cities and the firms planning and building these communities. The largest number of AURP members are clustered in the DC/Md/Va region. Darmody launched the AURP Bio Health Caucus that focuses on planning and building life science facilities across the globe and is co-author with Rich Bendis of the Journal of Commercial Biotechnology Creating Communities of Life Science Innovation in the U.S.: History of Critical Factors That Helped the Bio Health Capital Region Emerge, March 2021.

Previously, he was the University’s AVP for Corporate and Foundation Relations in the Division of University Relations, AVP for Research and Economic Development, Special Assistant Vice Chancellor for Technology Development for University System of Maryland, Director of State and Federal Relations in the UMD President’s Office and served in the university’s legal counsel office. He worked for the U.S. Health Care Financing Administration Office of Attorney-Advisor and for a member of Congress and member of Maryland House of Delegates.

He is a frequent author and speaker and serves on national and state boards, including Bio Health Capital Region Forum Planning Committee, Fraunhofer USA, and the Maryland Technology Corporation Venture Board. He holds a Juris Doctor from the University of Baltimore, and he received his bachelor’s degree from the University of Maryland, College Park.

Kevin Reap

SVP

CBRE

Kevin is a First Vice President and a member of CBRE’s National Life Sciences Practice Group. He specializes in assisting life sciences and biotech companies develop and achieve real estate strategies that account for the flexibility needed in a constantly changing industry. His in-depth knowledge of the biotech life cycle, including initial funding, drug development, clinical trials and capital events, allow him to tailor specific strategies to his clients' needs. His background working for an international life sciences developer/owner offers a unique perspective to leverage the best possible real estate outcome for clients.

Prior to joining CBRE, Kevin spent 12 years working for BioMed Realty/Blackstone, a leading provider of real estate to the life sciences industry. After 4 years in the Philadelphia region handling leasing, he moved to the DC area in 2010 to open BioMed’s Maryland office. There he spearheaded leasing, development and acquisition efforts for the Mid-Atlantic region, totaling 2.5 million square feet in inventory. He negotiated and completed over 2 million square feet of lease transactions and was involved in the acquisition of over 650,000 square feet across several buildings. Upon fully leasing up the Mid-Atlantic portfolio, he oversaw the disposition of 2 million square feet.

Matt Brown

Vice President

South Duvall

Matt has been with South Duvall since its founding in 2016. He oversees their strategy, capital relationships, and business development activities. South Duvall has acquired or developed ten scientific properties in the Mid-Atlantic. Matt previously oversaw all underwriting and asset management activities with South Duvall. He holds a Bachelor of Science in Marketing from the University of Maryland and an MBA from Georgetown’s McDonough School of Business.

Dr. Stefanie Trop

Director, Life Sciences

Maryland Department of Commerce

Dr. Stefanie Trop leverages her experience in science and business to help innovators reach clinical and commercial impact. As Director of Life Sciences with the Maryland Department of Commerce, she leads statewide efforts to strengthen Maryland’s life sciences sector, working closely with industry, investors, academic leaders, and government partners to build collaborations that accelerate growth and support successful expansion into the region.

Stefanie’s earlier work included consulting in multi-omic and single-cell data analysis in roles at Beckman Coulter and Cytobank, where she supported biomarker discovery workflows for pharma and biotech clients. She also ran immunology studies in vaccine clinical trials during her postdoctoral work with the U.S. Navy. Stefanie holds a PhD in Molecular Microbiology and Immunology from the Johns Hopkins School of Public Health.

Joe D’Alù

Architectural/Mechanical Engineer & Project Executive

SETTY

Joe D’Alù leads SETTY’s Science & Technology practice. He is an accomplished Architectural/Mechanical Engineer and Project Executive guiding the planning and delivery of high-performance research and laboratory facilities nationwide. With more than 25 years of experience, Joe’s design philosophy emphasizes sound engineering, safety, energy management, and sustainability -- anchored by a deep respect for architectural intent and seamless integration of form and function. He advances innovation across life sciences, academic, and mission-critical environments through sustainable design, precision environmental systems, and energy-efficient engineering solutions.

Bob Zhang

Moderator

HCEDA

Bob Zhang leads the business development team at the Howard County Economic Development Authority (HCEDA), focusing on business engagement, retention, and attracting new businesses to the county. He also supports the cybersecurity/IT sector and drives international initiatives by promoting export opportunities and foreign direct investment.

Bob’s professional background includes experience with Fortune 500 companies, IT consulting firms, and the federal government, giving him a deep understanding of various industries. In 2011, he founded his own business to help small and medium-sized enterprises enhance their digital presence. His commitment to public service is evident in his decade-long contributions to Maryland’s diplomacy and international initiatives, recognized by the National Association of Secretaries of State for his outstanding contributions. From 2012 to 2023, Bob served as Commissioner of the Maryland Governor’s Commission on Asian-Pacific American Affairs, where he chaired the business subcommittee. In 2019, he was appointed to the Maryland-Washington DC District Export Council by the U.S. Secretary of Commerce, where he assists local exporters in expanding into global markets.

Bob holds a master’s degree in Applied Information Technology from Towson University and a bachelor’s degree in Business Administration from the University of Louisiana.

Developing & Designing Life Sciences Spaces for Regional Growth and Innovation

The importance of collaboration between developers, designers, general contractors, universities and companies to create functional, innovative space

Mark VanderZyl

Mark VanderZyl

Director, Connect Labs Baltimore

Wexford Science & Technology, LLC

Luke Redmond

Luke Redmond

Project Manager

Whiting-Turner

Ryan Burnette

Ryan Burnette

Senior Vice President

Merrick & Company

Jake Hughes

Jake Hughes

Managing Director

JLL

Charu McDermott

Charu McDermott

Associate VP

CannonDesign

Andres Blohm
Moderator

Andres Blohm

Buildings Market Lead

Jacobs

Luke Redmond

Project Manager

Whiting-Turner

Luke brings over 15 years of experience in preconstruction and construction, with a focus on laboratory facilities and projects in sensitive environments. His portfolio includes work on federal research campuses such as the National Institutes of Health (NIH), as well as university campuses including Stanford University and Johns Hopkins University. Luke is highly knowledgeable in mechanical and electrical systems and has extensive expertise in the commissioning of laboratory buildings across both academic and research sectors.

Ryan Burnette

Senior Vice President

Merrick & Company

Ryan Burnette, Ph.D. is the Senior Vice President at Merrick & Company and leads the Life Sciences practice. He is an international biorisk management practitioner with a strong focus on biosecurity and biodefense, infectious disease facilities, and laboratory capital programs. To date, Dr. Burnette has worked with over 100 universities, biopharmaceutical clients, and governments, practicing extensively in the U.S., Canada, Europe, Southeast Asia, Africa, India, and the Caribbean on biosafety/biosecurity and laboratory capacity building. Dr. Burnette is the author and editor of one of the authoritative volumes in biosecurity, entitled Biosecurity: Understanding, Assessing and Preventing the Threat. His second book, Applied Biosecurity: Global Health, Defense, and Developing Technologies, was released in June of 2021.

Jake Hughes

Managing Director

JLL

Jake Hughes has over 15 years of experience in commercial real estate and project management with a focus on healthcare and life sciences. He is currently a Managing Director with JLL’s Project and Development Services practice overseeing the Mid-Atlantic Market. With a Bachelor of Science in Industrial and System Engineering from Virginia Tech and an MBA from Virginia Commonwealth University, he blends technical knowledge with business acumen to deliver innovative solutions for Clients. He also serves on the Board for the local chapter of ACE and is a member of the Real Estate Circle of Excellence at Virginia Commonwealth University and the Industry Advisory Board for the Blackwood Department of Real Estate at Virginia Tech.

Charu McDermott

Associate VP

CannonDesign

Charu McDermott, AIA, LEED AP is an Associate Vice President at CannonDesign, a

different kind of design firm, where strategy, experience, architecture, engineering and

social good converge to create meaningful impact. Based in the Washington, D.C.

office, Charu is part of the Science and Technology team whose mission is to design

transformational facilities that foster breakthroughs. She holds a Bachelor of Science

and a Master of Architecture from the University of Michigan. With over two decades of

experience, Charu has worked on all phases of project design from programming

through construction administration. Charu loves to dive into complex laboratory

projects with her team and clients. She's not afraid to ask questions and is relentless in

her pursuit to pull together the right resources to arrive at the best design solutions.

Charu knows that well-designed, optimized spaces drive industry-defining innovation in

human health.

What You'll Learn

After an explosive pandemic-era expansion, the Mid-Atlantic life sciences market is undergoing a reset. According to Cushman & Wakefield, availability in Suburban Maryland alone has climbed to a record 20.2%, with 14% vacancy and more space expected to hit the market as venture funding slows, federal budget cuts reduce new tenant formation, and several firms face bankruptcy or capital shortfalls. 

These conditions are pushing landlords to rethink their strategies. Owners of large life science blocks are actively pursuing medical office conversions, alternative uses, and flexible buildouts to widen the tenant pool and stabilize occupancy. The market’s transition is reshaping underwriting assumptions and forcing a sharper focus on adaptable, future-proof space.

For tenants, this is a highly favorable moment: rental rates remain steady in the low-to-mid $40s psf, while landlords are offering shorter terms, richer concessions, and more negotiable deal structures. Early-stage companies, in particular, are gravitating toward spec suites and second-generation lab space that minimize upfront capital.

For market participants, success will hinge on flexibility, creative repositioning, and understanding a tenant-driven landscape in flux. Join our panel of experts, from venture capitalists to developers, occupiers and associations, to understand how to position yourself best for success in today's evolving and rapidly-changing market.

What You'll Learn: 

  • How are changes in tenant demand for life sciences spaces influencing the design and development of lab and office environments, particularly in the Mid-Atlantic, and what trends are emerging to accommodate evolving needs in functionality, flexibility, and sustainability?

  • With the current supply and demand imbalance in major lab markets, how are developers and investors adjusting their strategies for life sciences companies over the next 12 to 18 months?

  • As the region's life sciences market sees positive absorption, especially with recent leases like BeMoreLabs, how can developers and investors capitalize on the demand for lab space in the area amidst rising construction costs?

  • Given the shifts in policies under the Trump administration, how do you expect changes in drug pricing strategies, supply chain regulations and acquisition activity to impact life sciences real estate demand?

  • How can Maryland, DC and Virginia invest in innovation programs to help enhance their role as a leader in life sciences innovation and support small businesses entering the market?

Who You'll Meet: Developers, owners, investors, construction, designers, architects, financial professionals and more!

Projects:

WMATA Selects Developer For 14-Acre Life Sciences District At North Bethesda Station
Inside The Cell Therapeutics Plant Kicking Off AstraZeneca's $3.5B U.S. Push
Pharmaceutical Giant Moving Out Of 635K SF Building In Rockville
Wexford is launching Connect Labs Baltimore in winter 2024, a 35,000-square-foot facility offering pre-built lab, office space, and amenities for emerging life sciences, biomedical, tech, and data science companies

For questions, recommendations, comments, press inquiries, or if you are interested in sponsoring, please email our Director of Event Production, Elizabeth Baker, at liz.baker@bisnow.com. To request disability-related accommodations, please contact sabrina.cole@bisnow.com no later than seven business days prior to the event.

Venue

Bethesda Marriott
5151 Pooks Hill Road
Bethesda, MD 20814

Ballroom: Grand Ballroom and Foyer


$11 per vehicle (50% discount)

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Agenda

Time Activity
1:00 PM
2:00 PM
Registration, Networking and Breakfast
2:00 PM
2:45 PM
The Mid-Atlantic's Life Sciences Path Forward

Explore key investment opportunities, growth drivers, emerging trends and the pivotal role of talent development, infrastructure, and public-private partnerships in driving regional innovation and expansion.

2:45 PM
3:00 PM
Networking Break
3:00 PM
3:45 PM
The Leasing Outlook: Market Trends, Deal Terms and Tenant Strategies

Explore how evolving demand, current deal structures, and tenant priorities are redefining the leasing landscape.

3:45 PM
4:30 PM
Developing & Designing Life Sciences Spaces for Regional Growth and Innovation

Dive into the collaborative efforts between developers, designers, general contractors, universities and companies to create functional, innovative spaces that attract tenants and investors while keeping future adaptability in mind

4:30 PM
5:00 PM
Closing Networking

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