Mission
BIO Ventures for Global Health is harnessing the resources of the biotechnology industry to create new medicines for neglected diseases of the developing world. Our mission is to break down barriers that hinder industry involvement in global health product development and to catalyze new industry investment. Through new market-based solutions, we are working to help companies build sound business strategies that can contribute to solving global health challenges.
BVGH was spun out of the Biotechnology Industry Organization (BIO), and is supported by the Bill and Melinda Gates Foundation and the Rockefeller Foundation, as well as by leading companies in the biotech industry.
The Challenge
Biotechnology companies lead the world in developing new health care products – particularly for rare or “orphan” diseases – but only a few have focused on the opportunity to develop treatments for neglected diseases. While many of the biotech industry’s leaders are passionate about contributing to advances in global health, their companies perceive market, financial and information barriers that have limited their involvement. By breaking down these barriers BVGH will help companies commit to innovating new health care products for developing countries.
The Opportunity
BVGH believes that the innovative drive of the biotech industry is integral to the mission of saving lives and treating diseases that afflict the world's poorest people. The time is right for biotech to take on this challenge:
- Major leaps in scientific understanding of neglected diseases offer new hope for progress in developing new drugs, vaccines and diagnostics for the patients most in need.
- With 4000 companies, over 270 approved products on the market, and exceptionally diverse high-tech platforms for drug discovery, the biotechnology industry now has the resources, capability and maturity to take on the challenges of global health.
- As much as 85% of the world’s population is underserved by the biopharmaceutical industry – including areas of high economic growth with populations that can and do pay for health care – creating potential untapped markets.
- Unprecedented global initiatives in funding for R&D, procurement and distribution are providing both “push” and “pull” incentives for product development.
BVGH Approach
BVGH’s approach is market-based and founded on the belief that broad industry involvement depends on the availability of economic incentives and market mechanisms. Our strategy:
- Identify targets for biotech impact – Biotech companies need information on developing world health needs and how to apply their core technologies to the most pressing medical needs of developing countries. BVGH is identifying opportunities to develop new drugs, vaccines and diagnostics, and communicating these priorities to the biotech community.
- Create opportunities and incentives – A key barrier to biotech investment in developing world diseases is the belief that the markets are insufficient to generate an attractive return on investment. BVGH is identifying market opportunities for neglected diseases through a series of disease-specific business cases that quantify potential financial and social returns and in many cases demonstrate attractive market potential. BVGH is also working with the public sector to enhance markets that are insufficient to attract industry investment through new mechanisms such as Advance Market Commitments (AMCs).
- Build strategies and commitment – To take advantage of scientific, market and funding opportunities in global health and engage new innovators, BVGH is working with companies to build global health strategies that optimally employ their core capabilities. We are also educating donors, investors and foundations about the essential role of the biopharmaceutical industry in developing new drugs, vaccines and diagnostics.
- Catalyze private sector R&D – By expanding access to information and resources, providing opportunities to exchange information, facilitating new partnerships, and securing financing for the most compelling projects, BVGH can energize important research and development efforts and engage industry’s most capable innovators.
BVGH Core Strengths
Our strength lies in our deep understanding of how industry “works” and our determination to translate that knowledge into solutions that advance the goals of global health and still make business sense. BVGH has:
- An extensive industry network and deep knowledge of the pipelines, resources and capabilities across the industry
- Access to the industry’s leading scientific, product development and financial expertise
- Extensive experience building successful product development organizations, partnerships and collaborations
- Expertise in identifying and supporting successful life science companies and technologies
- A unique platform for advocating global health issues without promoting particular products or strategies
- The distinctive ability to accelerate product development by connecting needs and capabilities among biotech and pharmaceutical companies, the global health community and academic investigators – as well as public and private sources of financing
How BVGH Measures Success
BVGH believes that its activities, to have an impact, must lead to an improved pipeline of health care products for the developing world, that over the longer term make a significant difference for patients in the developing world. We measure ourselves and our efforts by four key criteria:
- Did we create self-perpetuating industry commitment to global health solutions?
- Did our efforts bring major new products into the pipeline?
- Did we shorten timelines to clinic and market?
- Have we brought the benefits of biotech to the neediest patients in the developing world?
