Bill Gates Donates $50 Million To Speed Up Development Of Coronavirus Treatment

There are initial signs that the coronavirus sweeping the globe––officially known as COVID-19––is slowing its rampage in China, its origin point, but things in the U.S. seem to just be getting started as WHO proclaims the outbreak a pandemic.

Microsoft founder and billionaire philanthropist Bill Gates has made a substantial pledge to help researchers develop a treatment.

Funded through the Bill & Melinda Gates Foundation, the donation program––dubbed the COVID-19 Therapeutics Accelerator––is a whopping $50 million to be dispersed to 12 pharmaceutical companies and biotech firms which are actively looking to find an effective vaccine against the coronavirus.

But that donation comes with a crucial caveat: the successful company or companies must make the vaccine affordable and accessible to even the world’s poorest regions.

“Viruses like COVID-19 spread rapidly, but the development of vaccines and treatments to stop them moves slowly,” Mark Suzman, chief executive officer of the Bill & Melinda Gates Foundation, said in a statement.

“If we want to make the world safe from outbreaks like COVID-19, particularly for those most vulnerable, then we need to find a way to make research and development move faster. That requires governments, private enterprise, and philanthropic organizations to act quickly to fund R&D.”

As impressive as the $50 million donation is, it’s merely a portion of a larger fund spearheaded by the Gates Foundation. It has partnered with Wellcome, also contributing $50 million, and Mastercard Impact Fund, which has committed $25 million, bringing the grand total to $125 million.

(H/T RobbReport)


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