AMR Action Fund Gets First CEO, Funding Boost

Date: February 23, 2021 | Country: UNITED STATES | Region: NORTH AMERICA | Type: Policy | Keywords: #amractionfund #antibiotics #antimicrobialresistance #boehringeringelheim 
#europeaninvestmentbank #funding #wellcometrust

PRICENTRIC BRIEF:

  • Microbiologist Henry Skinner, formerly of Novartis and Tekla Capital, has been announced as the first CEO of the AMR Action Fund
  • Through the joint efforts of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the European Investment Bank, and Wellcome Trust, the AMR Action Fund first launched in July 2020 with $1 billion in funding with the goal of bringing four new antibiotics to patients by 2030—at the moment, the Fund is poised to “take its first steps” in investing in biotech companies focused on developing new antibodies
  • At the same time as Skinner was confirmed as CEO, it was announced that the fund had received an additional $140 million in funding from Boehringer Ingelheim Foundation, the European Investment Bank, and Wellcome Trust

 

THE DETAILS

BOSTON, MA, United States – Microbiologist Henry Skinner, formerly of Novartis and Tekla Capital, has been announced as the first CEO of the AMR Action Fund, a joint venture aimed at strengthening and accelerating clinical research of new, innovative antibiotics to address the rising issue of antimicrobial resistance (AMR).

Through the joint efforts of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the European Investment Bank, and Wellcome Trust, the AMR Action Fund first launched in July 2020 with $1 billion in funding with the goal of bringing four new antibiotics to patients by 2030.

Skinner stated, “I am honored to join the AMR Action Fund and its incredibly important mission. Having worked on this issue from many angles throughout my career, I know how badly novel antibiotics are needed, and I also know how many obstacles currently prevent them from being developed and reaching patients. I am proud and excited to lead the AMR Action Fund in its efforts to tackle the global challenge of AMR. Thank you to everyone involved in developing this critical and groundbreaking initiative, and in particular to the interim CEO of the AMR Action Fund, Martin Bott, for getting us to this point.”

The Fund is poised to “take its first steps” in investing in biotech companies focused on developing new antibodies.

At the same time as Skinner was confirmed as CEO, it was announced that the fund had received an additional $140 million in funding from Boehringer Ingelheim Foundation, the European Investment Bank, and Wellcome Trust.

Christoph Boehringer, Chairman of the Boehringer Ingelheim Foundation, commented, “We need innovative solutions to avert the looming health crisis posed by AMR, which threatens to make even common medical procedures potentially deadly. The Boehringer Ingelheim Foundation is committed to fighting the greatest global health threats of our time and we are proud to join this broad alliance of charitable organizations, development banks, and biopharmaceutical companies. We are confident the AMR Action Fund will enable researchers and scientists to bring innovative antibiotics to patients suffering from severe bacterial infections.”

The Fund noted that, while additional funding serves as a short-term solution to AMR, longer term policies are necessary to boost the pipeline of new antibiotics.

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