As the COVID-19 crisis unfolded, and as policymakers, scientists, and companies jumped to combat the virus, we saw remarkable innovation in R&D processes and business models. Companies collaborated swiftly amongst themselves, with government agencies, and academic institutions, sharing information and resources, sometimes in unprecedented ways. Even under the strains of the pandemic, innovation has continued in the fight against cancer, rare diseases, diabetes, and more. Where are we seeing some of the most exciting scientific and business advances right now in biomedical innovation? Has the experience of the pandemic taught us any lessons about how to accelerate the process of R&D for the benefit of patients?