MassBio’s annual industry report exposes sharp declines in Massachusetts biotech funding. Venture capital investment fell over 17% in the first half of 2025 compared with 2024, reaching the lowest level seen since 2017. Simultaneously, NIH funding for the state is projected to decrease by approximately $463 million. These drops stem from federal policy shifts, including research freezes impacting major universities and consequent laboratory downsizing. Industry leaders acknowledge the tough climate but anticipate adaptation as ongoing challenges reshape the biomedical ecosystem.