10 July 2020 – Pharma companies join forces to launch $1 billion fund to develop new antibiotics by 2030

Twenty-three leading biopharmaceutical companies have joined forces to invest $1 billion in a fund to develop new antibiotics, which are needed urgently to fight the worldwide rise in antimicrobial-resistant superbugs. The AMR Action Fund, aims to bring 2-4 new antibiotics to patients by 2030. Through the AMR Action Fund, pharmaceutical companies will join forces with philanthropies, development banks, and multilateral organizations to strengthen and accelerate antibiotic development. The Fund will focus on urgent public health needs. It will provide much needed financial resources, as well as important technical support to help biotech companies bring novel antibiotics to patients.

Destiny Pharma CEO Neil Clark said ”We welcome this significant new fund supporting novel drug development addressing AMR. The world needs new antinfective drugs and Destiny Pharma is one of the few biotech companies dedicated to this global clinical need. The new pharma backed fund is clear recognition of the clinical need and is the latest in a series of new initiatives from regulators, governments and healthcare investors to support innovation that addresses AMR”.