Pharmalittle: We’re reading about a Massachusetts biotech slump, Akeso lung cancer survival data, and more

Good morning, Jason Mast here filling in for Ed. Today’s cup of stimulation of choice is black with a splash of soy milk, being sipped at the David Rubenstein Atrium at Lincoln Center, one of New York’s many overlooked and (sometimes) lovely indoor public spaces . Here’s some news. …

A new report paints a grim outlook for the Massachusetts biotech industry, The Boston Globe tells us . The annual report from the trade group Mass Bio used to chronicle ever-rising investment into the capital of the U.S. life science industry. That trend has reversed starkly. In the first half of 2025, venture investment fell 17% to $2.75 billion, compared to the same period in 2024, the lowest level since 2017. Only one Massachusetts biotech company, Sionna Therapeutics, has gone public. The numbers