Greater Boston's life sciences leaders will find out in 2025 if their industry can overcome its post-pandemic slump — and how the incoming Trump administration will affect them.

Why it matters: Biopharma contributes billions of dollars to the state's economy, per a report from the trade organization MassBio.

• The latest economic development package Gov. Healey signed into law, which includes a $500 million investment in the life sciences industry, signals Massachusetts' commitment to the sector's growth here.

The big picture: Venture capital investment dropped in late 2022 and 2023 after years of record funding, but rebounded last year.

Zoom in: Massachusetts biopharma companies got a combined $7.8 billion in VC funding last year — the first year-over-year increase since the pandemic, per MassBio's 2024 biopharma funding report.

• Massachusetts-based companies also saw an increase in IPOs in 2024 compared to a year earlier.

State of play: The biotech industry may see more money flowing this year and perhaps more funding outside of Cambridge.

• In 2024, Boston unseated Cambridge as the city with the highest biopharma VC funding raised, per MassBio.
• Waltham, Watertown and other cities saw increases in funding for their local biotech companies, a sign the industry continues to branch out.

Yes, but: President-elect Trump's nomination of Robert F. Kennedy Jr. raised concerns that the vaccine skeptic could make it even harder to get drug candidates approved, especially vaccines.

• A health and human services overhaul could hit vaccine-focused companies and early-stage investments for vaccine startups particularly hard, per Axios Pro Rata.

Friction point: Massachusetts companies still struggle to fill openings for entry-level jobs and executive roles.

• AI-based solutions could streamline some of the work and improve research, diagnostics and other areas, but it's too soon to tell if Pharma will incorporate AI into its workflow the way the health care sector has.

What we're watching: Cambridge-based vaccine maker Moderna is struggling to build on its success from the COVID-19 pandemic.

• The company now plans to cut $1.1 billion from its annual research and development budget and says it will aim to break even by 2028 (its prior target was 2026).

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Milton lost the fight against the Healey administration's housing production law after the state's highest court deemed it constitutional.

Why it matters: The Supreme Judicial Court's ruling marks a victory for Gov. Healey, who heralded the 2023 law as a solution to the state's worsening housing crisis.

Yes, but: The state has to redo the guidelines to enforce the law after officials failed to file public notices during the process, per the ruling.

• The bureaucratic screw-up may create a hurdle as the state tries to expand its housing stock near MBTA stations, a hallmark of the law.

State of play: The court deemed the new law constitutional and ruled that every MBTA community, including Milton, needs to have a zoning law that makes way for multifamily housing near its train station.

• But the regulations to enforce the law need to be redone because the state’s housing department failed to send public notices and a small business impact statement to the secretary of state’s office.
• Failing to file those notices makes the regulations null, the court ruled.

What’s next: The state will file emergency regulations by the end of this week, Healey said in a statement.

What we're watching: What refiling the regulations means for the 116 communities that already approved zoning changes to comply for the law.

Tell a YIMBY (or NIMBY) friend

More than 1,000 incidents, including rape or assault allegations, were reported at Massachusetts emergency family shelters since January 2023, per newly released records. (Globe)

💰 Private equity firm AAM15 bought the Kelly's Roast Beef brand and four locations for an undisclosed amount. (BBJ)

• The deal involves Kelly's locations in Saugus, Medford, Danvers and Revere Beach — not the 11 other Kelly's eateries.

Thomas Clasby, Quincy's former director of elder services, was indicted on suspicion of embezzling funds to cover personal expenses, including a framed self-portrait. (WHDH)

Whole Foods is selling discounted prepared meals through the app Too Good To Go, which connects users to stores with unsold or surplus food.

Driving the news: Whole Foods started an initiative with TGTG this week, selling prepared food from the company's 31 stores in Massachusetts.

• Prepared food bags go for $9.99 for $30 worth of food, per the grocer.
• Bakery bags cost $6 for $21 worth of breads, muffins and other baked goods.

💭 Steph's thought bubble: I've yet to try this, but I'm curious to see what $30 worth of food looks like from the grocer also known as "Whole Paycheck."

• If you try this, let me know what you think.

Driving in the Boston area can be harrowing, but at least we're not the slowest.

• New York, Seattle and even New Orleans have us beat there.

Coming to a brewery near you: Girl Scout cookies.

The intrigue: The local taproom may become yet another place to tempt you into stocking up on thin mints.

Driving the news: The Girl Scouts of Eastern Massachusetts changed its policy last year to let their troops sell their famous cookies at local breweries, after years of requests from volunteers.

• The Girl Scouts' first stop was Break Rock Brewing Co. in Quincy last month.

What's next: They'll be selling at Granite Coast Brewing in Peabody from 3-6pm Saturday.

• Troops will also sell cookies at T stations, Stop & Shops, malls and coffee shops, including Deja Brew in Southie, per the organization's zip code finder.