Ten major global pharmaceutical and biotechnology companies have joined forces with Japanese-based Global Health Innovative Technology Fund (GHIT Fund), in a bid to increase research and development (R&D) investments for neglected diseases worldwide.
The ten partners include a full funding partnership with Fujifilm, a sponsorship from Salesforce.com, an associate partnership with Otsuka Pharmaceutical, and affiliate partnerships with GlaxoSmithKline, Mitsubishi Tanabe Pharma, Johnson & Johnson, Kyowa Hakko Kirin, Merck, Nipro, Sumitomo Dainippon Pharma.
GHIT Fund CEO Dr BT Slingsby said: "We are excited to welcome these new funding partners from within Japan and across the globe who have joined forces with the GHIT Fund because of their own unique commitments to global health, as well as their confidence that working together will transform R&D.
"The partnerships will not only broaden our scope, but also increase our ability to reach the world's most vulnerable people with lifesaving technology."
Since its launch in April 2013, GHIT has been investing in R&D for neglected diseases, having now assigned more than $60m into upwards of 60 collaborations for product development.
The new GHIT partnerships, along with the existing ones, will help the organisation continue funding in new and latest technology for neglected diseases.
It will also be able to continue investing in promising candidates that have recently entered clinical trials, or will enter late-stage trials.
GHIT Fund is a public-private partnership (PPP) between the Japanese government, the Bill & Melinda Gates Foundation, the Wellcome Trust, United Nations Development Programme (UNDP) and several pharmaceutical companies.