Trump-Era Cuts, Harvard Fight Threaten Biotech’s Riskiest Bets

The Trump administration’s sweeping cuts of federal research funding and its fight with Harvard University risk bleeding into the venture capital market, curbing financing opportunities for early-stage drug development.

More than half of biopharmaceutical company respondents expect to have a harder time raising capital, according to a survey conducted in late April and released on Tuesday by the Massachusetts Biotechnology Council and Biocom California.