GHIT Fund’s Strategic Plan for 2018 to 2022: Accelerating Product Development and Product Delivery for its global health innovations
TOKYO, JAPAN (December 11, 2017)—The Global Health Innovative Technology Fund (GHIT) today announced its Strategic Plan targeting the next five years (FY2018-FY2022). Comprised of four pillars—i: Research & Development (R&D), ii: Partnership for Delivery, iii: Excellence through Good Governance, iv: Financial Strategies—GHIT will continue to accelerate global health R&D through an international partnership between Japan and countries overseas.
Since its inception in April 2013 as the world's first global health R&D public-private partnership fund, GHIT has advanced the development of therapeutics, vaccines and diagnostics for infectious disease in low and middle income countries, by galvanizing Japan's science and pharmaceutical capabilities. To date, GHIT has invested a total of US$115M in 68 global partnerships, and 7 clinical trials are currently underway.
The first pillar of the Strategic Plan, “R&D,” involves investing in promising global partnerships at each stage of development, from discovery to clinical trials. Through prioritizing investment in late-stage candidates in the pipeline, GHIT will aim for two products to be approved by a stringent regulatory authority by the end of FY2022. With regard to “partnership for delivery,” GHIT will further strengthen its capacity to appraise access and delivery plans for low- and middle-income countries including regulatory strategies, manufacturing and distribution, financing, and advocacy. It will achieve this pillar through partnerships with the United Nations Development Programme (UNDP) and other international and domestic organizations. The other two pillars—“excellence through good governance” and “financial strategies”—continue to be the base upon which GHIT achieves its vision and mission.
“GHIT has transformed global health R&D in Japan by maximizing the country’s pharmaceutical capacities and capabilities.” said BT Slingsby, Chief Executive Officer of GHIT. “Our goal has been to advance innovation for global health so that it can be delivered promptly to the people who need it most. GHIT will achieve this by accelerating product development in partnership with organizations around the globe."
"Spread of infectious diseases will continue to be a major threat to humans with the rise of globalization, rapid urbanization and climate change,” said Kiyoshi Kurokawa, Chair of GHIT. “GHIT’s strong leadership is critical to leveraging Japan's cutting-edge innovation for advancing global health R&D.”
In June 2017, the Government of Japan (Ministry of Foreign Affairs, Ministry of Health, Labour and Welfare), private foundations such as the Bill & Melinda Gates Foundation, the Wellcome Trust, and a group of private companies1 have committed approximately US$200M to the GHIT replenishment for the next five years (FY2018 - FY2022)2.
With this Strategic Plan for GHIT 2.0, GHIT will continue to accelerate open innovation with global partnerships for product development of therapeutics, vaccines and diagnostics to save the lives of the poorest of the poor in the fight against infectious diseases endemic in low-and middle-income countries.
*All amounts listed at the exchange rate of USD1 = JPY100
1Astellas Pharma Inc., Chugai Pharmaceutical Co., Ltd., Daiichi Sankyo Company, Limited, Eisai Co., Ltd., Shionogi & Co., Ltd., Takeda Pharmaceutical Company Limited, FUJIFILM Corporation, Otsuka Pharmaceutical Co., Ltd., Sysmex Corporation, GlaxoSmithKline K.K., Johnson & Johnson, Kyowa Hakko Kirin Co., Ltd., Merck KGaA, Mitsubishi Tanabe Pharma Corporation, Sumitomo Dainippon Pharma Co., Ltd.
GHIT Fund 2.0 Strategic Plan
From 2018 April to 2023 March
1.1 Advance R&D investment pipeline and prioritize late-stage candidates
- Two products approved by a stringent regulatory authority
- Three clinical candidates with Proof of Concept (POC) achieved
- Five First in Human (FIH) clinical trials conducted
1.2 Further leverage innovations from Japanese biopharma and academia
- Eight preclinical candidates identified
- Five hit-to-lead programs
- Five innovative diagnostics technologies identified and funded
1.3 Refine strategies to maximize global health R&D excellence and outcomes
- Six preclinical investments and four clinical investments reviewed for effectiveness in the field
- Annual portfolio review approved by the Portfolio and Launch Strategy Committee (PLSC) of standing committee of the GHIT Board of Directors
2. Partnership for Delivery
2.1 Strengthen capacity to appraise access and delivery strategies for late-stage candidates
- 10 launch strategies for late stage investments reviewed by PLSC, and reported to the Board of Directors
2.2 Leverage United Nations Development Programme (UNDP) and other global network partners for product delivery preparedness
- Six launch strategies shared and discussed with UNDP and other global partners
- Six meetings convened between development partners and relevant global partners for each of the launch strategies aforementioned with the goal of in-country access and delivery support
- Present GHIT's value of access and delivery at more than 20 conferences or events
3. Excellence through Good Governance
3.1 Ensure and further enhance corporate governance and institutional development
- Two successful audits by the Cabinet Office of Japan (conducted every three years)
- Five successful financial audits by an external and independent auditor
- Five successful internal audits by the GHIT management team (results reported to Chief Executive Officer & Board of Directors)
- Biennial review and sign-off by Board of Directors of updated GHIT policies including Governance Manual
4. Financial Strategies
4.1 Maximize efficiencies in fund management and co-funding strategies
- Maintain overhead cost (at or below 5%)
- Increase leveraging factor (to 2.0)
4.2 Efficiently match financial needs and investment planning to GHIT’s mission and evolving strategy
- Successfully replenish GHIT 3.0 (FY2023 - FY2027)
Disclaimer: This press release contains certain forward-looking statements, and the actual results may be materially different from those expected in the forward-looking statements due to a number of risks and uncertainties, including, but not limited to, whether we can sustain funding, achieve successful progression of products through the R&D process, and receive regulatory approvals.