Gates Foundation Awards $115 Million to Medicines for Malaria Venture

Gates Foundation Awards $115 Million to Medicines for Malaria Venture

The Geneva-based Medicines for Malaria Venture has announced a five-year, $115 million grant from the Bill & Melinda Gates Foundation to fund its research and development pipeline for anti-malarial drugs.

The grant — the fifth and largest awarded to MMV by the Gates Foundation — will support the organization's efforts to discover, develop, and deliver affordable, safe, effective, and innovative medicines for the treatment and prevention of malaria in disease-endemic countries. The organization currently manages a portfolio of more than fifty anti-malarial drug projects in collaboration with eighty partners in forty-four countries around the globe. With the grant, MMV has now raised a total of $470 million from fourteen public and private donors for its efforts.

"This substantial grant is a very welcome, indeed transformative, addition to those recently announced from other sources," said MMV president and CEO Chris Hentschel. "It will underpin financially what we are seeking to achieve in our new business plan and validate it as an excellent development investment. Despite these times of financial turbulence, we can enter our tenth year not just with a clear vision but with the means to implement it. We are extremely grateful and proud of our long and sustained association with the Bill & Melinda Gates Foundation. We appreciate the acknowledgement of our work in the field of research and development of effective anti-malarials."

"MMV Receives $115 Million From Gates Foundation." Medicines for Malaria Venture Press Release 10/19/2009.