Biobanking is a crucial element of the medical and public health response to COVID-19 and future pandemics, as the storage and distribution of biospecimens and data become a driver of current and future research efforts. Nevertheless, biobanks face a number of ethical, social, and governance challenges during COVID-19 that may require new practices and policies to meet the needs of researchers, donors, and a public eager for research breakthroughs to address the pandemic.