The Biotechnology Innovation Organization (BIO) launched the BIO Investment Council to improve engagement between investors and emerging biotech companies and to accelerate capital formation for small and mid‑sized innovators. The council will be chaired by Doug Dieter of Ares Management with Nessan Bermingham of Khosla Ventures as vice chair. BIO said the council will advise on policies that affect private capital, facilitate investor–company matchmaking and shape programming at industry events such as the BIO Investor Growth Summit. The initiative responds to shifting venture patterns where later‑stage financings have outpaced preclinical funding and aims to remove barriers that impede early‑stage biotech growth.