Boston Metro Life Science Figures Q4 2023
January 9, 2024 10 Minute Read
As 2023 came to a close, the life science industry across Greater Boston remained on unsettled footing as the economic environment among other factors cast uncertainty as 2024 begins. Both private and public companies continue to prioritize cash on hand while pursuing their next drug development milestone. The private funding environment is muted compared to the heights of 2021; companies across the region aren’t sure when their next funding round will arrive. When making real estate decisions, firms are erring on the side of caution, deciding to stay in place with either a short or longer term renewal and making do with what they have. Some companies are close to the end of their capital runway which is evident through a number of layoffs announced during the fourth quarter.