BIO Ventures for Global Health Announces Bill &Melinda Gates Foundation Grant to Expand Biotech Industry’s Role in Fight Against Neglected Diseases

PHILADELPHIA -- BIO Ventures for Global Health today announced it will expand its efforts to enlist biotechnology companies in the fight to improve global health, with a new $5.4 million grant from the Bill & Melinda Gates Foundation. BVGH is a nonprofit venture founded last year by the Biotechnology Industry Organization, with support from the Gates Foundation and the Rockefeller Foundation. The announcement was made at BIO 2005, the biotech industry’s annual convention.

“The biotech industry has tremendous potential for developing new therapeutics, vaccines and diagnostics against diseases of the developing world,” said Richard Klausner, MD, former executive director of the Gates Foundation’s Global Health program. “For too long, funding, market, and information barriers have prevented biotech companies from realizing this potential. We believe that BIO Ventures for Global Health will provide the means to help industry overcome some of these barriers. We congratulate BVGH in taking leadership in helping to bring the potential of biotechnology to improving health equity in our world.”

To view the full release visit the BIO Ventures for Global Health Web site.