Joint against malaria: European Investment Bank, European Commission and Investitionsbank Berlin inaugurate €70 million fund
Berlin, Luxembourg - 3 June APA OTS - Today, the European Investment Bank (EIB), the European Commission and Investitionsbank Berlin (IBB) announced the first closing of their EU Malaria Fund. The European Commission and the European Investment Bank are investing an initial EUR 64 million into the fund, which aims to bridge the gap between molecule and market for feasible and affordable innovative solutions to prevent and treat malaria. It is complemented by investment from IBB, the Bill & Melinda Gates Foundation, Fondazione Monte Dei Paschi Di Siena, Jacques und Gloria Gossweiler Stiftung, Invethos AG, FINDdx, and Novartis AG.
“If we are lucky, our fund can be a life-saver for hundreds and thousands of people every year.” said Ambroise Fayolle, EIB Vice President in charge of health.
Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth, said: “We are joining forces with other investors to protect health and save lives. The new EU Malaria Fund is working with a total EU contribution of more than €110 million to boost research efforts and speed up market solutions against this preventable and deadly disease. This is an example of how key global players can come together to fight infectious diseases such as malaria and bring health technologies to those who need them most.”
“We’re looking forward to working closely with our partners to find innovative solutions to prevent and treat malaria in the future,” said Dr. Jürgen Allerkamp, Chairman of the Board, Investitionsbank Berlin.
“This is a decisive instrument that could potentially be leveraged in other disease areas with similar underlying market failure,” adds Holm Keller, Chairman of kENUP Foundation and Managing Director of the EU Malaria Fund.
The instrument will finance companies through venture debt. The first two investments earmarked by the fund are expected to go to Italian AchilleS Vaccines and to Austrian Themis Bioscience GmbH.
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