Axios Boston

August 30, 2022
It’s Tuesday, isn't it?
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Today's weather: Sunny, around 90. High tide 2:07pm.
Situational Awareness: City Council president Ed Flynn has suspended councilor and DA candidate Ricardo Arroyo from his council leadership positions after reports of alleged sexual misconduct in 2005 and 2007.
Today's newsletter is 671 words — a 2.5-minute read.
1 big thing: Follow the biotech bucks

Cambridge and Boston continue to outpace other Massachusetts cities and towns when it comes to venture capital funding for biopharmaceutical companies, a new report says.
- Yes, but: Investors are also betting on startups in Waltham, Watertown and other small cities, per the report, confirming state officials and business leaders’ comments that the biotech industry is expanding beyond Cambridge.
Driving the news: Cambridge biotech companies raised $2.2 billion — or 43% of biotech funding in Massachusetts — in the first half of 2022, according to MassBio’s industry snapshot released today.
- Just over the river, Boston biotech companies raised $1.5 billion, nearly 30% of funding in the state, in that same time frame.
- The other nearly $1.4 billion, or 27%, in investments funded biotech companies in other cities and towns, but among them Waltham stood out as an emerging biotech hub with $561 million in VC funding (about 11% of funding).
Yes, but: Just how much biopharmaceutical companies have expanded beyond Cambridge and Boston remains unclear; MassBio’s industry snapshot did not break down VC funding by municipality in previous years.
Why it matters: Biotech has transformed from an industry of roughly 46,000 workers in 2006 to one boasting more than 106,000 workers so far this year, per MassBio.
- These workers have helped develop cancer-treating drugs, COVID-19 vaccines and other life-saving treatments.
- The funding kept coming for Massachusetts biotechs this year, despite lower stock valuations, layoffs, inflation and other challenges affecting the life sciences industry.
Zoom out: Greater Boston remains one of the biggest biotech hubs in the country, behind the San Francisco Bay Area.
- About one-quarter of all VC funding for pharmaceuticals in the U.S. went to Massachusetts-based companies in the first half of the year, per MassBio.
2. ☀ Hot summers only getting hotter

Temperatures are rising and many parts of the U.S, including Boston, are hitting record highs this summer.
- A new study found an "extreme heat belt" will soon emerge, stretching from Texas to Illinois, reports Andrew Freedman in Axios Generate.
- Areas inside the belt could reach a heat index of 125°F at least one day a year by 2053, according to the study from the nonprofit First Street Foundation.
Threat level: Boston won't be in the most extreme heat belt just yet, but the study says heat will become a major threat here in the next few decades.
- Thirty years ago, the likelihood of a proper heat wave with heat indexes over 96°F was 21%, according to the report.
- In 2022, the likelihood is 50%, as we've found out this summer. Thirty years in the future, the likelihood is projected to be 78% in Boston.
- That means that instead of being over 96°F seven days a year, it could be that hot 15 days a year.
The big picture: The report warns that over the next 30 years, climate change is going to make the United States hotter and more dangerous during the summer.
- Eight million Americans currently live in an area with a maximum heat index greater than 125°F.
- That number could jump to 107 million Americans by 2053.
3. 🔙 Back that Mass. Up - News from around the commonwealth
Illustration: Brendan Lynch/Axios
An investigation by WBUR found that a unique state law requiring records related to sexual and domestic violence be kept secret to protect victims is instead shielding abusers and being used by police to hide information. (WBUR)
A Cambridge youth resources police officer was charged with operating under the influence after a crash on Broadway with three motorcyclists. The officer and two motorcyclists were hospitalized. (CBS Boston)
🏌️♂️ The man, the myth, the legend, Mr. Bill Murray was in Mattapoisett Sunday, and of course took pictures with everyone. (Boston 25)
Now hiring: New job openings
🔥 Hot and fresh local job listings.
- Resource Manager at Adobe.
- Associate Director, Paid Social at GroupM.
- Area Manager, Environmental Services at Massachusetts General Hospital.
Want more opportunities? Check out our Job Board.
Hiring? Post a job.
4. 🍺 One (green) beer to go
It’s supposed to look like that. Photo: Mike Deehan/Axios
If you find yourself in Beverly, pop into Channel Marker Brewing on Rantoul Street for a truly unique pint: the Seagrass Tropical Trainwreck.
- This ale brewed with pineapple, orange and lime is truly sour with what the brewers call "a medium to strong pucker."
- The snot-green sea color of the beer comes from blue spirulina, a supplement derived from blue-green algae. The haze comes from marshmallows.
- The 6%er costs $8.50 at the Beverly taproom.
Deehan is stoked for National Cinema Day.
Steph appreciates the Northeastern-BU alliance in this TikTok.
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