Having spent my entire career in biotech startups (mostly digital pathology and diagnostics) I can tell you that you are seriously mistaken. It does not cost anywhere near "billions of dollars" to develop, say, a diagnostic. We get by with ~10-30m funding rounds, perhaps 2-3 rounds. Not sure where you are getting your (mis-)information from. Of course, if you're looking to develop a new drug... yeah, that costs a boatload of money, but that's hardly the only area of biotech.