Massachusetts still remain a major biotech hub globally. There are over 1000 pharmaceutical and biotech companies in Massachusetts. 18 of the top 20 biopharmaceutical companies, are found in the the Boston-Cambridge region. According to MassBio (Massachusetts Biotechnology Council) report, Massachusetts has surpassed California as the leading biotech hub in the US.
Massachusetts is the number 1 sciences cluster, with an educated workforce (highly qualified STEM graduates and researchers), and renowned research institutions like Harvard and MIT. There are also top research hospitals such as Massachusetts General Hospital, Dana-Farber Cancer Institute and Brigham & Women’s Hospital.
The state also ranks first in NIH funding and venture capital investment, top in funding and lab space (61.9 million square feet), second in patents (23,853 families) and leads in biopharmaceutical jobs, with 116,937 positions.
Venture capital investment was $7.67 billion in 2023 and $3.04 billion in early 2024, while NIH funding with 8,954 awards which amounted to $5.219 billion. Top biotech incubators and venture capital firm, Third Rock Ventures launched a $1.1 billion fund to develop 10 new biotech companies in Massachusetts.
The Massachusetts Life Sciences Center (MLSC), an economic development and investment agency, has invested over $700 million in the biotech industry in the last 12 years through grants, loans, tax credits. It has a program called Seed Fund, which invests up to $250,000 in emerging companies.
Greater Boston area is a global hub for innovation, and the largest biotech cluster in the world. The Greater Boston is made up of primarily Boston and Cambridge, but also Waltham, Lexington, Burlington, Watertown, and Woburn, is home to over 1,000 biotechnology companies ranging from small to large companies.
Kendall Square in Cambridge is particularly concentrated with life sciences companies, and has about 120 companies within a mile. The prominent companies in the Square include Amgen, Pfizer, and Novartis Institute for Biomedical Research. Also, the Longwood area of Boston, about two miles from Kendall Square, has numerous biomedical research companies.
Many of the biotech companies in Massachusetts are pioneering research and innovation in the sector.
For example, the Novo Nordisk’s largest research and development hub outside of Denmark, is based in Massachusetts. Vertex has been expanding on its cell and genetic therapy R&D operations. Moderna used mRNA technology to develop the COVID-19 vaccine.
The major area of therapeutic research include oncology, CNS, and infectious diseases.
List of Biotech Companies in Massachusetts
The major biotech cluster in Massachusetts is the Greater Boston Area, which encompasses areas like Boston, Cambridge, Lexington, Waltham, Woburn, Framingham, Burlington, and Watertown.
This is the comprehensive list of biotech companies in Massachusetts’s cities and towns.
