The US Department of Health and Human Services (HHS) has set up a public-private partnership with Global Health Investment Corporation to invest at least $50m in medical startups to tackle future pandemics.
Barda Ventures, the investment unit of HHS’s Biomedical Advanced Research and Development Authority, has committed a minimum of $50m over five years with potential for up to $500m over 10 years.
GHIC, a non-profit established to provide long-term funding for global health research and development, will set up a global health security fund with matching
capital from other investors, according to news provider Fierce Biotech.
Barda also has its Division of Research, Innovation, and Ventures (Drive), which is focused on sensors and artificial intelligence-based technologies to provide early and actionable health information, solutions for detecting and preventing sepsis, alternative vaccine delivery technologies, biologics and small-molecule drug repurposing to combat threats.
Barda’s DRIVe currently is partnering with 37 companies through federal contracts and has a network of 13 accelerators in different regions of the country to better source innovation.
Xavier Becerra, HHS Secretary, said: “The pandemic has demonstrated that the US needs transformative technology that is not only available but also widely accessible.”
Gary Disbrow, director at Barda, added: “Barda Ventures will rise to the challenge by engaging that community and leveraging both public and private funds to change the way we prepare for health security threats of the future.”
