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Findings:
- Massachusetts saw a decline of 1,101 research and development jobs (or 1.7%) in 2024, the first drop in the history of the Industry Snapshot.
- In the first half of 2025, Massachusetts-based companies announced a total of $2.75 billion in VC funding, constituting 22.5% of national VC dollars.
- Of the state’s VC funding, 54% was invested in companies located outside of Cambridge in cities such as Boston, Newton, Framingham, and Waltham.
- In M&A activity, $7.6 billion was spent acquiring 14 Massachusetts companies in the first half of 2025 – a marked decline from 17 deals for $28.9 billion during the same period last year.
- An additional 1.1 million square feet of lab and GMP space came online since our last Snapshot, bringing the total inventory to 63.2 million square feet. The vacancy rate stands at 27.8%.
- Massachusetts’ drug development pipeline comprises 15.7% of the nation’s pipeline, up from 15.2% in last year’s report.
What They’re Saying:
“Massachusetts’s world-renowned life sciences sector produces lifesaving cures and creates good jobs every day. While federal funding cuts are threatening the foundations of medical discovery and the economic benefits that come with it, Massachusetts is committed to moving forward. With strong partnership between my administration, the Legislature, and industry leaders like MassBio, we are going to continue to support our life sciences industry and grow our competitive edge.”
Massachusetts Governor Maura Healey