MassBio Releases 2018 Industry Snapshot
The Massachusetts Biotechnology Council (MassBio) released its 2018 Industry Snapshot report, in partnership with EvaluatePharma, which shows Massachusetts biotechs accounting for nearly half of all US-based biotech IPOs (48%), up from 30% in 2016.
The report shows that 2018 has already surpassed 2017 in terms of total Massachusetts IPOs at 15, which accounts for nearly 40% of all US-based biotech IPOs (January – July 2018).
Job growth in the Massachusetts biopharma industry remains strong, with consistent 4-5% increases in the last few years, and nearly 30% growth over the last decade (28% from 2008 – 2017). Massachusetts also continues to attract a greater share of public funding, with:
- Five of the top 6 NIH-funded independent hospitals
- 57% of all NIH funding to Independent Hospitals
- $1.25 billion to Massachusetts centers of Higher Education and Research Institutes in 2017
To download the full report, visit here.
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