In a record year for venture capital financing, biotech's gathered a large share of the total financing and had a record year as an industry.  This record level of venture financing was, in part, driven by renewed focus on life sciences due to the COVID-19 pandemic but was also a result of the continuing maturation of the biotech industry and the opening of the IPO window for pre-revenue biotech companies and other early stage businesses.  The increased funding was also a result of the biotech industry having greater success in developing and bringing to market novel therapeutics fulfilling the promise that the industry showed in the early 1990s and beyond.  Exciting times to be involved in this industry!