Life Science Washington, the state’s industry trade association, today released its annual Economic Impact Report which reveals Washington’s life sciences industry has outpaced both national life science and state private sector job growth for the fifth consecutive year, extending its position as one of the top 10 life science clusters in the U.S.
Since the COVID-19 pandemic, Washington’s life sciences industry has remained a top-performing market, sustaining strong growth despite slowdowns in national life science employment and local private-sector jobs. This momentum reflects the diversity of the state’s ecosystem, spanning world-class research institutions, an expanding base of biotech companies, as well as pharmaceutical and medical device companies with manufacturing operations. According to the report, life science jobs in Washington have increased more than 50% over the past decade (2014-2024) and served as a buffer against employment downturns during the last three recessions.
“The life sciences industry in Washington continues to demonstrate remarkable resilience and momentum, even as broader hiring trends slow within the state and across the country,” said Marc Cummings, President and CEO, Life Science Washington. “As a top 10 national cluster in both the life sciences and technology, Washington has emerged as a global leader in AI-driven biotech and medical products.”
This year’s report finds that over 117,000 jobs are supported by the state’s life sciences industry and over 48,000 individuals are employed directly in life science jobs. Washington’s life sciences sector is also ranked as a top STEM-based industry for women, with women making up 44% of the industry workforce in the state—one of the highest concentrations in a STEM-based industry.
With employment growth remaining stable, the impact of the life sciences industry in Washington continues to steadily increase. According to the report, the state’s life sciences industry has reached $43.4 billion in total economic impact, adding $24.4 billion to Washington’s GDP and contributing $1.7 billion in local and state tax revenue. As a result, the sector has expanded to nearly 150 cities across Washington state, supported by over 1,100 life science organizations.
Additionally, the report finds that Washington is one of the largest AI talent hubs in the U.S., home to the nation’s third-largest concentration of AI specialists—a position built on more than a decade of leadership in early-stage science and AI. The University of Washington’s Institute for Protein Design and the Allen Institute’s Ai2 have been leaders in developing tools and spinning out companies that are driving the current wave of AI-based drug development. Coupled with a deep tech sector talent pool, Washington’s life science companies are at the forefront of applying AI to develop new drugs and power medical products, tools, and digital health applications.
Leadership in AI Convergence Remains Strong Despite Investment Headwinds in the State
Life Science Washington today also released its annual Investor Report which reveals total investments of $1.38 billion in 2025, a slight decrease from the previous year, mirroring reduced venture capital investment nationally that tended to support larger, later-stage deals.
“Investment in life sciences has faced headwinds over the past two years, but sentiment is beginning to shift,” said Cummings. “Biotech indices that were flat have started to rebound, and we hope to see that momentum reflected in increased Washington deal activity in the year ahead.”
Despite the tight financing environment in 2025, Washington remains a leading life sciences hub driven by a diverse range of innovation. According to the report, 56 unique investors contributed to 35 deals, spanning therapeutics, medical devices and digital health. The top five deals reflect companies at the cutting edge of their fields, each leveraging AI as part of their scientific approach:
- Truveta brought in the largest investment with $320 million in new funding as part of a Series C financing round. Based in Bellevue, Washington, Truveta is a health data company that uses a proprietary large language model to normalize and extract insights from electronic health records across over 30 health systems.
- Kestra Medical Technologies completed a $232 million IPO. Based in Kirkland, Washington, Kestra is a medtech company that deploys adaptive AI algorithms in its wearable defibrillator to autonomously detect and treat life-threatening cardiac arrhythmias in real time.
- Callio Therapeutics closed $187 million in funding for a Series A financing round. Based in Seattle, Callio is a biotech company developing next-gen, multi-payload antibody-drug conjugates to improve cancer therapy that partnered with Hummingbird Bioscience to integrate AI into its platform to enable targeted delivery of multiple agents to tumor cells.
- Tune Therapeutics brought in a $175 million investment as part of a Series B financing round. Based in Seattle, Tune is a biotech company specializing in epigenome editing to regulate gene expression without altering DNA sequences that partnered with AWS to streamline data processing.
- LumiThera was acquired by Alcon for $135 million. Based in Poulsbo, Washington, LumiThera is a medtech company that specializes in detecting, treating and monitoring retinal diseases. The company incorporates AI into its AdaptDx Pro diagnostic device to detect the earliest biomarker of macular degeneration.
Regeneron Receives 2025 Investor of the Year Award
Biotech company Regeneron, which expanded to Seattle in 2024, was the top life sciences investor for Washington in 2025, having participated in two sizable deals totaling $495 million in investments. Those deals included a Series C investment in Truveta and a Series B investment in Tune Therapeutics. Life Science Washington announced Regeneron as the recipient of its 2025 Investor of the Year award during the association’s 2026 annual conference, Life Science Innovation Northwest. The award is based on both the number and size of investments made in the Washington life sciences ecosystem.
“Regeneron is a strategic investor, seeking opportunities to enable innovative scientific research—creating new knowledge and solutions that advance our understanding of human health and wellness. Our work with Washington-based organizations is exciting and has the tremendous potential to deepen our knowledge and drive future advancements across scientific discovery, drug development, and clinical care delivery,” said Andrew Deubler, Senior Vice President, Chief Business and Administration Officer at Regeneron Genetics Center. “We are honored to be recognized as the 2025 Investor of the Year and look forward to continuing to support the companies advancing life science innovation in Washington and beyond.”
To view the full 2026 Washington State Life Sciences Economic Impact Report and 2025 Washington State Investor Report, visit www.lifesciencewa.org.
About Life Science Washington
Life Science Washington is the state’s industry trade association, connecting its 500+ members with a robust local network, funding, talent, and essential business services to drive sector growth within the region and beyond. As a top 10 life science cluster in the U.S., Life Science Washington advocates for policies that strengthen the ecosystem and accelerate groundbreaking research and product development, improving patient outcomes and saving lives. For more information, visit www.lifesciencewa.org.
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