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Drug Development

Gates, Wellcome, and Mastercard give $125 million for coronavirus treatments

by Ryan Cross
March 15, 2020 | A version of this story appeared in Volume 98, Issue 10
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A trio of heavy hitters is pitching in up to $125 million in seed funding to launch the COVID-19 Therapeutics Accelerator. The Bill & Melinda Gates Foundation and Wellcome are committing up to $50 million each, and Mastercard has pledged up to $25 million. The accelerator will work with drug companies and government agencies to look for old and new small-molecule and biologic drugs to treat COVID-19, the disease caused by the novel coronavirus.

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