MassBio’s annual report reveals a sharp downturn in Massachusetts biotech funding with venture capital investments dropping over 17% in H1 2025 to $2.75 billion, the lowest since 2017. Compounding the challenge, National Institutes of Health funding to the state is projected to fall by $463 million compared to 2024, reflecting disruptions from federal policy shifts. Despite earlier optimism, reduced research budgets and funding uncertainties have prompted contraction and lab closures, highlighting growing stability concerns in a historically robust hub.