While the response to the COVID-19 pandemic has exposed many obstacles in the biomedical innovation ecosystem, we have also shown ourselves capable of innovating in ways that few thought possible. Will we be able to leverage our collective learnings from COVID-19 to streamline the biomedical research pipeline and, ultimately, benefit patients suffering from a broad range of deadly and debilitating conditions? What near-term actions can stakeholders take to preserve or repurpose the innovative infrastructure, investments, and programs created during the pandemic to target other urgent public health needs?