New Financing Mechanism to Raise Research Funds for Neglected Diseases

The International AIDS Vaccine Initiative, Novartis and George Institute for International Health have developed a new financing concept to support research and development of new drugs, vaccines and diagnostics targeting neglected diseases, including HIV/AIDS, tuberculosis and malaria.

The PDP+ Fund, which will support technologies being developed by product development partnerships and other research organizations, is due to be discussed in a public forum slated May 17 in Geneva. Representatives from the Bill & Melinda Gates Foundation, George Institute for International Health, Global Forum for Health Research, Global Health Council, IAVI, Novartis and World Health Organization will attend the event.

The fund came out of the WHO Expert Working Group on R&D (Research and Development) Financing, a panel created in 2008 to evaluate proposals for research and development financing and coordination, according to a blog written by Holly Wong, vice president for public policy at IAVI, Mary Moran, director of health policy at the George Institute for International Health, and Paul Herrling, head of the Novartis Institutes for Developing World Medical Research.

The fund will obtain its resources from donor contributions, bond financing, innovative financing and revenues from sales of PDP+ Fund-backed products.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.