Boston’s once-thriving biotech sector is facing a major downturn as venture capital investment and government grants decline, leading to layoffs and dwindling job prospects.
The Wall Street Journal reports that the biotech industry in Boston, long considered a vital economic engine for the affluent region, is experiencing a significant slowdown. A combination of reduced venture capital funding and cuts to government research grants have taken a heavy toll, resulting in job losses and a challenging environment for those seeking employment in the field.
For many, like 31-year-old Jeremy Liew who moved from New Jersey to Boston in 2018 to pursue…
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