Commissioner Geoghegan-Quinn said, "Our goal in this new partnership is to work together to develop at least one new and better health product per year. This will represent a big step forward for the millions who suffer from poverty-related diseases."
“With sufficient resources and political commitment, we can together improve the lives of millions before the end of this decade," said Mr. Gates. "The foundation is completely committed to supporting efforts to develop life-saving products to help solve some of the world’s toughest problems. Partnership with the Commission and other funders is critical to the success of our common mission."
The Commission and the foundation will jointly fund clinical development of new ways to treat and prevent HIV, tuberculosis, malaria, as well as neglected infectious diseases such as diarrhoeal diseases, Buruli ulcer, trachoma, lymphatic filariasis and sleeping sickness. Much of this work will be carried out through the European and Developing Countries Clinical Trials Partnership (EDCTP), a flagship initiative of the European Union, with currently 16 European and 30 sub-Saharan African partner countries involved.
Both parties are currently identifying investment opportunities in promising products and new scientific approaches. One key target area will be tuberculosis, where new drugs and vaccines and novel scientific approaches are needed to tackle the disease and counter the emergence of drug-resistant TB strains.
The foundation and the EC are planning to launch a joint innovation prize at the 2014 Innovation Convention.