GHIT Fund Secures USD 24 million pledge from Bill & Melinda Gates Foundation over 3 years
The Global Health Innovative Technology (GHIT) Fund announced today that it has secured a pledge from the Bill & Melinda Gates Foundation of USD 24 million (approximately JPY 3.2 billion*2) over 3 years for GHIT Fund’s third five-year plan, GHIT 3.0 (from FY2023 to FY 2027*1).
Since its inception in 2013, the GHIT Fund has been investing in new product development and committed to 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), which affect the world’s vulnerable and underserved populations. In April 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.
“The Bill & Melinda Gates Foundation has been supporting the GHIT Fund as a critical partner since its inception. We are grateful for their financial contribution and look forward to working together to find solutions to the challenges in global health,” said Dr. Osamu Kunii, CEO of GHIT Fund.
Katey Owen, Director of Neglected Tropical Diseases and Director, Vaccine Development, Bill & Melinda Gates Foundation, said: “Over the past nine years, our relationship with GHIT has evolved and expanded. What started as an investment to test a new R&D financing mechanism has proved its innovative model and become a pioneering model for others to follow. We’re delighted to continue this relationship over the next three years, with a renewed focus on the impact GHIT can make within the global health landscape.”
As of March 30, 2023, there are 53 ongoing projects, including 26 discovery, 15 preclinical and 12 clinical trials in the GHIT portfolio. The total amount invested since 2013 is JPY 29.1 billion (approx. USD 217 million). The GHIT Fund has 170 partners (59 domestic and 111 overseas) that have participated in product development to date, and the number of Japanese and overseas institutions has dramatically increased over the past 10 years.
1 From April 2023 to March 2028
2 USD 1 = JPY 134.14, the approximate exchange rate on April 28, 2023.