Mass. Home To High Biotech Investment, 63 New Drugs

Massachusetts is one of the very top states in the country for biotechnology venture capital investment and "biotechnology strength," according to a new report by the Pharmaceutical Research and Manufacturers of America (PhRMA).

According to PhRMA's Business Facilities Ranking Report, the state's biotech firms have taken in $7 million in biotech venture capital investments. According to the organization's Medicines in Development Biotechnology report, Massachusetts firms are developing 63 new medicines for the treatment of cancer, infectious diseases, autoimmune diseases and cardiovascular diseases.