Af­ter down year, 2020 brings new cash in­to Mass­a­chu­setts biotech

The sea of cash that has hit biotech since the pan­dem­ic be­gan has not left out its biggest sec­tor: Mass­a­chu­setts.

Through the first half of 2020, ven­ture cap­i­tal firms have poured more than $2.1 bil­lion in­to biotechs in the state, set­ting the sec­tor on a pace to re­bound af­ter a down year in 2019. The new fig­ure, in­clud­ed in a new in­dus­try snap­shot from the trade group Mass­Bio, is more than 2/3 the $3.1 bil­lion biotechs in the state raised through the en­tire­ty of last year, and would put the sec­tor on track to raise more than any year in the last decade be­sides 2018.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER