- The Gates Foundation, Wellcome, and Mastercard are committing $US125 million in funding to companies developing treatments for the novel coronavirus.
- The organisations said Tuesday that the funding would be used for a COVID-19 Therapeutics Accelerator “to speed-up the response to the COVID-19 epidemic by identifying, assessing, developing, and scaling-up treatments.”
- Bill Gates has been sounding the alarm on the COVID-19 coronavirus, calling it a “pandemic,” though the World Health Organisation has yet to give it that distinction.
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The Gates Foundation, Wellcome, and Mastercard, are hoping $US125 million could spark some new ways to treat the novel coronavirus that’s spreading around the world.
The Gates Foundation said Tuesday it’s committing $US50 million to the COVID-19 Therapeutics Accelerator, as is Wellcome. Mastercard’s Impact Fund is committing the remaining $US25 million, according to a statement.
It will be used as seed funding “to speed-up the response to the COVID-19 epidemic by identifying, assessing, developing, and scaling-up treatments,” the organisations said in a statement. COVID-19 is the name of the disease caused by the novel coronavirus.
The Gates Foundation said the $US50 million is part of the $US100 million commitment the organisation made to fight the outbreak in early February.
Around the world, nearly 116,000 people have been infected with the novel coronavirus, and there have been 4,000 deaths. There are currently no approved vaccines or treatments, though companies are racing to change that.
As part of the accelerator, the organisations will evaluate both new and repurposed drugs that could help in the treatment of the disease.
“Any disease which threatens lives is disturbing, but one for which there is no treatment is especially alarming,” Gates Foundation CEO Mark Suzman wrote in a blog Tuesday. “And, as we’ve already seen with COVID-19, countries and communities bear immense human, economic, and social costs.”
Bill Gates has been sounding the alarm on the coronavirus, calling it a “pandemic,” though the World Health Organisation has yet to give it that distinction.
“In the past week, COVID-19 has started behaving a lot like the once-in-a-century pathogen we’ve been worried about,” Gates wrote in February in the New England Journal of Medicine.
- Read more:
- Bill Gates says the coronavirus is a pandemic and a ‘once-in-a-century pathogen.’ Here are the solutions he’s proposing to fight it.
- ‘Crazy hours, short nights’: The inside story of how a buzzy biotech upstart developed a potential coronavirus vaccine in record time
- One slide in a leaked presentation for US hospitals reveals that they’re preparing for millions of hospitalizations as the outbreak unfolds
- The US is sprinting to develop a coronavirus vaccine or treatment. Here’s how 9 top drugmakers are racing to tackle an outbreak that’s spreading around the world.
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