The COVID-19 pandemic forced remarkable collaboration and acceleration in biomedical R&D. While much of the national and international response was far from optimal, we showed ourselves capable of actions previously thought impossible. As the sense of urgency felt at the height of COVID subsides, how can we ensure that the capacity for innovation is not lost? Can the same urgency demonstrated during the pandemic be harnessed to combat not just future disease outbreaks but all aspects of biomedical R&D? Without sacrificing safety, what incentives are needed to streamline the collaboration and processes to enable more rapid cures? Can we sustain the focus on health equity engendered in recent years?