MassBio’s latest industry report details a significant downturn in biotech funding within Massachusetts, with venture capital investments dropping over 17% in H1 2025 compared to 2024, reaching the lowest level since 2017. Cutbacks in NIH funding, including sizable reductions to top research universities, have compounded challenges, affecting startups and academic labs alike. Industry leaders describe the climate as difficult and unpredictable with concerns over sustained innovation trajectories.