Biotech industry in Boston

Greater Boston, primarily Boston and Cambridge, is home to almost 1,000 biotechnology companies, ranging from small start-ups to billion-dollar pharmaceutical companies. The many universities in the area give the region a large network of scientists.[1]

The Kendall Square area of Boston holds a large concentration of the life science industry, numbering over 120 companies within a mile.[2][3] The Longwood area is about two miles from Kendall Square, and is also home to many biomedical research companies.

History

The biotechnology industry in Boston dates back to the 1970s, when genetic engineering was developing. Biogen was the first company in Boston focused on biotechnology.[4][5]

In 2008, the governor of Massachusetts announced the Massachusetts Life Sciences Act, promising $1 billion to further the development of the biotech industry.[6][7]

In 2016, venture investment in Massachusetts biopharma companies was $2.9 billion, and more than half of the biotech companies in the state receiving venture capital were located in Cambridge. When Cambridge and Boston were considered together, they received more than 80% of the funding in the state.[8] Seven teaching hospitals are located in Boston, contributing to the research efforts. Five of the top six NIH-funded independent hospitals in the United States are located in Boston.[9]

Local industry

Academic institutes

Biotechnology companies

Pharmaceutical companies

Other life science companies

See also

References

  1. ↑ http://www.businessinsider.com/whats-bostons-biotech-secret-sauce-2017-5
  2. ↑ "Get to know Kendall Square, biotech's booming epicenter". STAT. 5 May 2016.
  3. ↑ Ledford, Heidi (11 June 2015). "Start-ups fight for a place in Boston's biotech hub". Nature. pp. 138–139. doi:10.1038/522138a.
  4. ↑ "Clusterluck". The Economist.
  5. ↑ "How Boston Became 'The Best Place In The World' To Launch A Biotech Company". www.wbur.org.
  6. ↑ "Life Sciences Initiative". www.mass.gov.
  7. ↑ "Gov. Patrick and the Mass. Life Sciences Center Announce Over $100 Million in Capital Grant Funding for Projects in Western Mass". Office of News & Media Relations | UMass Amherst.
  8. ↑ (PDF) http://files.massbio.org/file/MassBio-Industry-Snapshot-2017.pdf. Missing or empty |title= (help)
  9. ↑ (PDF) http://files.massbio.org/file/2016-MassBio-Industry-Snapshot.pdf. Missing or empty |title= (help)
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