Originally published by the Boston Globe on January 26, 2022
Massachusetts drug makers continued to bring in huge amounts of venture capital last year, setting a record for money raised, according to the industry trade group.
Local biopharma firms attracted $13.7 billion in 2021, up 70 percent from a year prior, the Massachusetts Biotechnology Council said in a report Wednesday. The group said “the power of biopharma companies to change the course of human health through vaccines and therapeutics” is continuing to attract money.
“Biotech companies are launching every day across Massachusetts and investors want to be involved from the start,” said MassBio chief executive Joe Boncore in a statement. “Not only for potentially good returns, but also for the chance of playing a role in the creation of a breakthrough medicine.”