BIO released study on venture financing broken down by disease area and novelty of research from 2004–2013. Study found that 78% of U.S. venture investment for therapeutics went toward novel drug R&D, suggesting innovation is core priority for investors. Disease areas affecting large populations – Diabetes, Psychiatry, Gastrointestinal, Respiratory, and Cardiovascular – have seen decline in novel drug R&D venture funding, while rare disease funding has seen large increase over past decade.