Adjuvant Capital announced an oversubscribed $300 million fund focused on accelerating the development of medical innovations for historically overlooked public health challenges. Launched in 2019, Adjuvant’s debut fund will support promising new technologies for indications that the venture capital industry has largely ignored.
To finance these ambitious goals, Adjuvant has assembled a unique coalition of conventional and catalytic investors, many of whom are also contributing scientific advice and emerging markets expertise. These investors—which include traditional asset managers, multinational biopharmaceutical companies, development finance institutions, and some of the world’s largest foundations—all hope their balance sheets can increasingly support the march toward a safer, healthier, more equitable global community.
“A wide array of private, public and philanthropic partners have come together to help ensure the most promising health technologies and services are available to people most in need,” said Mark Suzman, CEO of the Bill & Melinda Gates Foundation.
Lutz Hegemann, Group Head for Corporate Affairs & Global Health at Novartis, noted that: “As a company focused on science-based innovation to address some of society’s most challenging healthcare issues, we are pleased to invest in Adjuvant Capital as part of our holistic global health strategy.”
“We are pleased to join the team at Adjuvant and the other partners and investors who share a common goal to advance promising scientific platforms to improve global health,” said Julie Louise Gerberding, MD, MPH, Executive Vice President and Chief Patient Officer, Strategic Communications, Global Public Policy and Population Health at Merck.
Source: www.prnewswire.com