MassBio’s 2017 Industry Snapshot Shows Venture Capital Investment in Massachusetts Biopharma Industry Reached a Record $2.9 Billion Last Year
Massachusetts continues to outpace other states in terms of NIH funding per capita; biopharma employment increased nearly 5% to fill demand
- The Massachusetts drug development pipeline includes 20 candidates pending FDA approval, up from 13 the year before.
- Massachusetts researchers are currently researching and developing products for patients with over 380 different medical indications.
- In 2016, 25% of all drugs approved for orphan designation in the U.S. were from Massachusetts companies.
- Massachusetts companies received 18% of all Fast Track designations in the United States in 2016.
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MassBio is a not-for-profit organization founded in 1985 that represents and provides services and support for the Massachusetts life sciences industry. MassBio is committed to advancing Massachusetts' leadership in the life sciences to grow the industry, add value to the healthcare system and improve patient lives. Representing more than 1000+ biotechnology companies, academic institutions, research hospitals, and service organizations involved in life sciences and healthcare, MassBio works to advance policy and promote education, while providing member programs, events, industry information, and services.
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Massachusetts Biotechnology Council