Gates Foundation, Wellcome, Mastercard Launch COVID-19 Therapeutics Accelerator
HIT Consultant | March 13, 2020
The Bill & Melinda Gates Foundation, Wellcome and Mastercard announced the launch of the COVID-19 Therapeutics Accelerator with a committed $125 million in seed funding to speed-up the response to the COVID-19 epidemic by identifying, assessing, developing, and scaling-up treatments. The partners are committed to equitable access, including making products available and affordable in low-resource settings. While antiviral drugs are approved to lessen the severity of seasonal flu and treat HIV, among other viral diseases, none have demonstrated efficacy against the current epidemic. One reason for the lack of effective treatments is that products may not have an immediate market, which can slow or prevent their research and commercial development. The COVID-19 Therapeutics Accelerator is designed to help by bringing together resources and expertise to lower the financial and technical risk for academia, biotech, and pharmaceutical companies while ensuring that these products are accessible and affordable to people in low-resource settings. The expertise of pharmaceutical companies will be critical in identifying, researching, and commercializing successful drugs.