No it's not too late. Science, unlike other business disciplines, is a moving, growing endeavor. You invest for the future and should view such an investment as a long term value play IMO. Every year the market has a correction of 10-15% at some point, but long term I believe this sector will continue to grow as new health related applications are developed and executed.
Why not talk about a very good ETF? Lower priced and better performance than IBB! Biotechnology is the hottest sector looking forward at least 10 years. We have an aging population obsessed with longevity! Stem cell therapy, genetically modified drugs, new cancer treatments, new pain remedies.. the sky is the limit!