More than 20 major biopharmaceutical companies have launched the AMR Action Fund, a ground-breaking partnership that aims to bring 2-4 new antibiotics to patients by 2030.
These treatments are urgently needed to address the rapid rise of antibiotic-resistant infections (AMR).
The companies have raised so far nearly $1 billion new funding to support clinical research of innovative new antibiotics that are addressing the most resistant bacteria and life-threatening infections.
Through the AMR Action Fund, pharma companies will join forces with philanthropies, development banks, and multilateral organisations to strengthen and accelerate antibiotic development.
The Fund will focus on urgent public health needs. It will provide much needed financial resources, as well as important technical support to help biotech companies bring novel antibiotics to patients.
“Unlike COVID-19, AMR is a predictable and preventable crisis. We must act together to rebuild the pipeline and ensure that the most promising and innovative antibiotics make it from the lab to patients,” said Thomas Cueni, Director General of the IFPMA, one of the organizers of the new fund.
“The AMR Action Fund is one of the largest and most ambitious collaborative initiatives ever undertaken by the pharmaceutical industry to respond to a global public health threat.”
The AMR Action Fund will:
- Invest in smaller biotech companies focused on developing innovative antibacterial treatments that address the highest priority public health needs, make a significant difference in clinical practice, and save lives.
- Provide technical support to portfolio companies, giving them access to the deep expertise and resources of large biopharmaceutical companies, to strengthen antibiotic development, and support access and appropriate use of antibiotics.
- Bring together a broad alliance of industry and non-industry stakeholders, including philanthropies, development banks, and multilateral organizations, and help encourage governments to create market conditions that enable sustainable investment in the antibiotic pipeline.
The Fund is expected to be operational during the fourth quarter of 2020.