MassBio’s 2020 Industry Snapshot report shows shows that the Massachusetts biopharma industry raised $2.1 billion in venture capital (VC) investment in the first half of 2020, despite economic uncertainty created by COVID-19. The IPO market also remained strong, with seven IPOs from Massachusetts biotech companies in the first half of 2020, making up 33% of all US-based biotech IPOs, and raising an average of $187 million.

Massachusetts remains an R&D powerhouse, with biotech R&D jobs reaching 46,000 in 2019, an increase of 18% from 2018. Industry jobs as a whole reached nearly 80,000 in 2019, the largest year-over-year growth since 2007 (7.7% growth from 2018 to 2019), and a 94% increase in the last 15 years.

Download the 2020 MassBio Industry Snapshot here.