BIO and BIO Ventures for Global Health Launch Initiative to Engage Biotech Companies in Global Health Research and Development
Washington, D.C. – May 8, 2007
The Biotechnology Industry Organization (BIO) and BIO Ventures for Global Health (BVGH) today announced a new joint venture to address health needs in the poorest parts of the world. The organizations will co-host a partnering forum in spring 2008 aimed at harnessing the innovation and expertise of the biotechnology industry to create new medical products for diseases such as malaria, sleeping sickness and tuberculosis that affect hundreds of millions of people in the developing world.
"There is a critical need for investment in innovation to ensure that a new generation of medicines for the developing world enters the development pipeline," said BVGH President Dr. Christopher D. Earl. “Building bridges between biotech leaders and other leaders in the field will empower industry to have a revolutionary impact on the fight against neglected diseases."
The Partnering for Global Health forum will foster new collaborations to advance global health product development by bringing together experts from the biotechnology and pharmaceutical industries, academia, multilateral organizations, international NGOs, governments, investors and donors.
“The biotechnology industry possesses a strong desire to increase our efforts to solve global health challenges,” said BIO President and CEO Jim Greenwood. “This forum will create new opportunities to apply the biotech industry’s innovative technology to develop effective new medicines for those most in need.”
Leaders in the global health field applauded the initiative, noting the value of identifying successful models for industry collaboration and exploring market-based incentives to encourage greater involvement by industry.
“The biotech industry can and will hopefully play a much greater role in solving global health problems like malaria and tuberculosis,” said Dr. Tachi Yamada, president of the Bill & Melinda Gates Foundation’s Global Health Program. “This forum will help tap into the skills and knowledge of the biotech sector, and facilitate new and productive global health partnerships. I congratulate BIO and BIO Ventures for Global Health for creating this important initiative.”
About BIO Ventures for Global Health
BIO Ventures for Global Health is a non-profit organization whose mission is to save lives by accelerating the development of novel biotechnology-based drugs, vaccines, and diagnostics to address the unmet medical needs of the developing world. The organization spurs biotech industry involvement in global health product development by increasing biotech and global health partnerships, designing and advocating for compelling market-based incentives, and synthesizing and disseminating critical information and quantitative analysis. For more information, please visit www.bvgh.org.
For additional information, contact:
Molly Polen, Director of Communications, BIO Ventures for Global Health 202-470-6232