Global Health Investment Fund Leads Investment into Low-Cost Oral Cholera Vaccine for the World’s Poor
Wednesday, August 27, 2014
The Global Health Investment Fund I, LLC (GHIF) today announced that it has committed 5 million USD to support the final stages of product development for a new oral cholera vaccine (“OCV”) manufactured by EuBiologics Co., Ltd. (“EuB”), a Korean biopharmaceutical company focused on delivering vaccine products and contract manufacturing services to improve global public health. EuB is pursuing endorsement from the World Health Organization (“WHO”) for its new vaccine, Euvichol. If successful, Euvichol is poised to become the second WHO prequalified OCV suitable for use in the low- and middle-income countries where cholera still imposes a severe burden on public health and economic productivity.
The GHIF is a private investment fund structured by JPMorgan Chase & Co. and the Bill & Melinda Gates Foundation, which received anchor investments from Grand Challenges Canada (funded by the Government of Canada), the German Ministry for Economic Cooperation and Development (acting through KfW) and the Children’s Investment Fund Foundation. The GHIF’s mission is to finance late-stage drugs, vaccines and diagnostics for diseases that disproportionately burden low-income populations.