Bisnow: Biopharma VC Funding Spreading To More Towns Outside Cambridge

Jan 13, 2023

By Taylor Driscoll, Bisnow Boston

This story originally appeared at Bisnow on January 12, 2023:

Venture capital investment in Massachusetts’ life sciences industry is spreading to cities and towns outside of the traditional Cambridge hub, a new report found, creating more opportunity for real estate growth in the suburbs. 

Of the $8.7B in venture capital funding to biopharma companies in the state last year, 51% went to companies outside of Cambridge, up from 42% in 2021, according to MassBio’s 2022 Massachusetts Biopharma Funding Report.

Twelve municipalities outside of Cambridge received at least 1% of the state’s total VC funding in 2022, up from six the prior year.  

While investment was more spread out last year, it was also down significantly from the 2021 total of $13.6B. But last year’s $8.7B was still the second-highest total ever, MassBio said.  

“Massachusetts remains in a position of strength to receive continued, meaningful investment, but the implementation of the Inflation Reduction Act, coupled with the fewest U.S. FDA approvals in years, will give investors new reasons for pause,” MassBio CEO Kendalle Burlin O’Connell said in a press release.

Read the full story at Bisnow.

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