MMV receives $115 million from Gates Foundation
Enabling the next generation of medicines against malaria
Medicines for Malaria Venture (MMV) has received its fifth and largest grant from the Bill & Melinda Gates Foundation, to fund its Research and Development pipeline with an additional $115 million over the next 5 years. The grant supports MMV’s ability to discover, develop and deliver affordable, well tolerated, effective and innovative antimalarial drugs for vulnerable populations.
“This substantial grant is a very welcome, indeed transformative, addition to those recently announced from other sources. It will underpin financially what we are seeking to achieve in our new business plan and validate it as an excellent development investment,” said Chris Hentschel, MMV’s President and CEO. “Despite these times of financial turbulence we can enter our 10th year not just with a clear vision but with the means to implement it. We are extremely grateful, and proud of our long and sustained association with the Bill & Melinda Gates Foundation. We appreciate the acknowledgement of our work in the field of research and development of effective antimalarials.”
Dr Timothy Wells, MMV’s CSO said, “This funding arrives at a critical time for us. Over the last few months, with our partners we have launched a high-quality antimalarial designed specially for children (Coartem® Dispersible), submitted another antimalarial to the EMEA for regulatory approval (DHA-Piperaquine), and are in the process of collating the regulatory dossier for a third antimalarial (Pyramax®). With our partners, we have built a portfolio of more than 50 new projects of which ten are in clinical development. With the emergence of resistance to Artemisinin in Cambodia, it’s clear that the ambitious goal of malaria eradication will require a wide range of new medicines. The new grant from the Foundation will enable MMV to continue the development of the next generation of antimalarial medicines.”
“An integrated strategy is critical to achieving malaria eradication,” said Regina Rabinovich, Director of Infectious Diseases Development for the Bill & Melinda Gates Foundation’s Global Health Program. “The development and delivery of new medicines is an essential component.”
The Foundation supports research to eradicate malaria using all the health tools needed, from drugs, vaccines, diagnostics and pesticides to long-lasting insecticide-treated bed-nets.
With the provision of this grant, the cumulative funding raised and pledged to MMV from 14 public and private donors is USD470 million.
For further information contact:
Jaya Banerji, Head MMV Communications