MassBio Releases Massachusetts Biopharma Funding Report for 2021

The state’s biopharma companies attracted record-breaking VC funding last year according to the newly-released MassBio 2021 Massachusetts Biopharma Funding Report. See the report’s key findings and conclusions below, then visit the MassBio website to download the full report.

• Following on 2020’s record breaking year, biopharma companies headquartered in Massachusetts received $13.66 billion in venture capital funding in 2021—a 70% increase year over year— setting a new record and eclipsing the combined VC funding from 2019 and 2020.
• Combined with the 25 Massachusetts headquartered biopharma companies that went public in 2021, this large influx of capital in the Massachusetts ecosystem will continue to drive significant growth in new lab and biomanufacturing space across the Commonwealth. With lab space vacancies at 0% in Cambridge and Boston, much of that expansion will happen outside Massachusetts’ traditional biopharma clusters.
• As more lab and biomanufacturing space comes online, the demand for talent will keep growing, necessitating an aggressive and comprehensive public-private partnership toward educating and training the next-generation workforce no matter their background or location.
• Massachusetts is uniquely positioned to receive continued, significant investment in our biopharma cluster as new and exciting companies are regularly created and launched out of our world-leading universities, hospitals, and VC firms. (Source: MassBio Website, 26 January, 2022)