In 2024, Massachusetts biopharma companies raised $7.89 billion in venture capital, a modest increase from 2023, according to a report by the Massachusetts Biotechnology Council. This funding is significantly lower than the $13.66 billion received in 2021 during the pandemic. The state’s share of national venture capital funding decreased slightly to 28.3%. Additionally, Massachusetts lawmakers approved a $500 million economic development bill for life sciences over the next decade, reinforcing the state’s commitment to innovation. The renewal of the Massachusetts Life Sciences Initiative is expected to attract early-stage investments and bolster the industry’s growth.