Groups to provide funding for unmet health conditions

The AMR Action Fund and Adjuvant Capital have raised new financing for projects related to unmet health needs. The AMR Action Fund has raised $140 million in charitable and bank funding in addition to $1 billion in industry backing to develop up to four new antibiotics by 2030. Bacteria that are resistant to known antibiotics claim hundreds of thousands of lives per year and could claim up to 10 million lives per year by 2050 without new treatments, the organization says. Separately, Adjuvant Capital has created a $300 million fund to focus on areas of need that fund managers say are often overlooked by venture capital, including infectious diseases. The fund is supported in part by the Bill and Melinda Gates Foundation. Other organizations working on antibiotic resistance include the public-private partnership Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) and the Global Antibiotic Research and Development Partnership (GARDP). Since its launch in 2016, CARB-X has invested $285 million in 78 projects worldwide. GARDP’s goal is to develop five new antibiotics by 2025.