Dump a senior manager or two (or more) and replace them with some Analyst/Portfolio experts.
Stay focused on Biotech.
$80m does not go far when it comes to fund investments, so it may be better to actually focus on a mix of early, mid and late seed investments.
Surely with some so-called experts in Biotech at the top, it will be easier for them to pinpoint other companies in their sector that are looking good.