GHIT Fund Secures US$20 Million Pledge From Wellcome over 5 Years
TOKYO, Dec. 5, 2022 /PRNewswire/ -- The Global Health Innovative Technology (GHIT) Fund announced today that it has secured a pledge from global charitable foundation Wellcome for GHIT Fund's third five-year plan, GHIT 3.0 (from FY2023 to FY 2027*1) of US$20 million (approximately 2.7 billion yen*2) over five years.
Since its inception in 2013, GHIT Fund has been investing in new drug development and portfolio management to contribute to global health, supporting Japanese technology and innovation to combat infectious diseases such as malaria, tuberculosis, and neglected tropical diseases (NTDs) that affect the world's vulnerable and underserved populations. In 2023, the 10th anniversary of its founding, GHIT aims to streamline and accelerate research & development for malaria, tuberculosis, neglected tropical diseases (NTDs), and other infectious diseases.
"We are incredibly grateful for Wellcome's commitment to the GHIT Fund. I am confident that the GHIT Fund will strengthen the partnership between Japan and overseas more than ever and contribute to innovations from Japan, including breakthrough drugs, vaccines, and diagnostics over the next five years," said Dr. Osamu Kunii, CEO of GHIT Fund.
Professor Gordon Dougan, Director of Infectious Disease at Wellcome, said: "Infectious diseases are one of the greatest health threats facing the world, with people in low-and-middle-income countries continuing to suffer the most from diseases such as TB, malaria, and neglected tropical diseases. The GHIT fund addresses this enduring gap by investing in product R&D and by leveraging scientific expertise and product development capabilities in Japan."
"Japan, with its excellent pharmaceutical industry, plays an important role in global health by providing major support of GHIT and in its international leadership such as through its upcoming G7 Presidency. Wellcome is proud to be supporting the GHIT Fund whose work will help us develop lifesaving vaccines, treatments and tests for people everywhere."
As of December 5, there are 61 ongoing projects, including 28 discovery, 20 preclinical and 13 clinical trials, including one project that has been submitted for regulatory approval, in the GHIT portfolio. The total amount invested since 2013 is 28.4 billion yen (approx.US$204 million). GHIT Fund has 168 partners (58 domestic and 108 overseas) that have participated in product development to date, and the number of Japanese and overseas institutions has increased dramatically over the past 10 years.
* ? From April 2023 to March 2027
The GHIT Fund is a Japan-based international public-private partnership fund (PPP) that was formed between the Government of Japan, multiple pharmaceutical companies, the Bill & Melinda Gates Foundation, Wellcome, and the United Nations Development Programme (UNDP). The GHIT Fund invests and manages an R&D portfolio of development partnerships aimed at addressing neglected diseases such as malaria, tuberculosis, and neglected tropical diseases that afflict the world's vulnerable and underserved populations. The GHIT Fund mobilizes Japanese industry, academia, and research institutes to create new drugs, vaccines, and diagnostics for malaria, tuberculosis, and neglected tropical diseases, in collaboration with global partners.
Wellcome is an independent charitable foundation which supports science to solve the urgent health challenges facing everyone. We support discovery research into life, health and wellbeing, and we're taking on three worldwide health challenges: mental health, infectious disease and climate and health.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ghit-fund-secures-us20-million-pledge-from-wellcome-over-5-years-301692978.html
SOURCE Global Health Innovative Technology (GHIT) Fund
Upcoming Life Sciences Events
- September 2023
- Diegem: Pharma-Biotech Product & Company Valuation with Dr. P Frei
- Barcelona: BioSpain 2023
- October 2023
- New York City: BioFuture