Business Wire

New AMR Action Fund steps in to save collapsing antibiotic pipeline with pharmaceutical industry investment of US$1 billion

Share

Today, more than 20 leading biopharmaceutical companies announced the launch of the AMR Action Fund [www.AMRactionfund.com], a ground-breaking partnership that aims to bring 2-4 new antibiotics to patients by 2030. These treatments are urgently needed to address the rapid rise of antibiotic-resistant infections – also called antimicrobial resistance, or AMR. The companies have raised so far nearly US$1 billion new funding to support clinical research of innovative new antibiotics that are addressing the most resistant bacteria and life-threatening infections. 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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005154/en/

The AMR Action Fund, an initiative of the international body representing the R&D pharmaceutical industry (International Federation of Pharmaceutical Manufacturers & Associations, IFPMA), was announced at simultaneous virtual launch events in Berlin, Germany, and Washington, D.C., USA, with a third event in Tokyo, Japan taking place on July 10.

AMR is a looming global crisis that has the potential to dwarf COVID-19 in terms of deaths and economic costs. While tragically the death toll of COVID-19 continues to rise, each year 700,000 people are dying from AMR. In some of the most alarming scenarios, it is estimated that by 2050 AMR could claim as many as 10 million lives per year.

“Unlike COVID-19, AMR is a predictable and preventable crisis. We must act together to rebuild the pipeline and ensure that the most promising and innovative antibiotics make it from the lab to patients,” said Thomas Cueni, Director General of the IFPMA, one of the organizers of the new fund. He adds: “The AMR Action Fund is one of the largest and most ambitious collaborative initiatives ever undertaken by the pharmaceutical industry to respond to a global public health threat”.

The world urgently needs new antibiotics, but there are few in the pipeline because of a paradox: despite the huge societal costs of AMR, there is currently no viable market for new antibiotics. New antibiotics are used sparingly to preserve effectiveness, so in recent years, a number of antibiotic-focused biotechs have declared bankruptcy or exited this space due to the lack of commercial sustainability, resulting in the loss of valuable expertise and resources. The consequence is a huge public health need for new antibiotics, but a lack of funding available for antibiotic R&D, particularly the later stages of clinical research. This creates a “valley of death” between discovery and patient access.

“With the AMR Action Fund, the pharmaceutical industry is investing nearly US$1 billion to sustain an antibiotic pipeline that is on the verge of collapse, a potentially devastating situation that could affect millions of people around the world,” said David Ricks, Chairman and CEO of Eli Lilly and Company and President of IFPMA. “The AMR Action Fund will support innovative antibiotic candidates through the most challenging later stages of drug development, ultimately providing governments time to make the necessary policy reforms to enable a sustainable antibiotic pipeline.”

While the AMR Action Fund is an important step in addressing the challenge of AMR, policymakers across the globe must enact market-based reforms, including reimbursement reform and new pull incentives, to revitalize the antibiotics market and drive sustainable investments in antibiotic R&D. Until then, the biopharmaceutical industry is taking action now to support the current pipeline of antibiotics.

With this investment from leading biopharmaceutical companies, the AMR Action Fund will be the largest collective venture ever created to address AMR. The AMR Action Fund will:

  • Invest in smaller biotech companies focused on developing innovative antibacterial treatments that address the highest priority public health needs, make a significant difference in clinical practice, and save lives.
  • Provide technical support to portfolio companies, giving them access to the deep expertise and resources of large biopharmaceutical companies, to strengthen antibiotic development, and support access and appropriate use of antibiotics.
  • Bring together a broad alliance of industry and non-industry stakeholders, including philanthropies, development banks, and multilateral organizations, and help encourage governments to create market conditions that enable sustainable investment in the antibiotic pipeline.

The AMR Action Fund expects to invest more than US$1 billion with the support of future partners into a portfolio of companies to address the funding gap for the financing of antibiotic development. The Fund is expected to be operational during the fourth quarter of 2020.

For more details on the AMR Action fund, visit www.AMRactionfund.com.

Messages of support for the AMR Action Fund

“AMR is a slow tsunami that threatens to undo a century of medical progress. I very much welcome this new engagement of the private sector in the development of urgently-needed antibacterial treatments. WHO looks forward to working with the AMR Action Fund to accelerate research to address this public health crisis.”Dr Tedros Adhanom Ghebreyesus, Director General World Health Organization

“EIB is actively supporting identified market failures with innovative financial instruments, antimicrobial resistance is clearly one. We welcome the opportunity to join forces with public and private actors, such as the pharmaceutical industry, philanthropic funders, multilateral development banks, and the World Health Organization to tackle this threat. The initiative is aligned with the EIB’s core objectives in health and we are proud to be part of the origination group of the new AMR Action Fund.”Werner Hoyer, President, EIB (European Investment Bank)

Biopharmaceutical companies and foundations supporting the AMR Action Fund

Almirall, Amgen, Bayer, Boehringer Ingelheim, Chugai, Daiichi Sankyo, Eisai, Eli Lilly and Company, GlaxoSmithKline, Johnson & Johnson, LEO Pharma, Lundbeck, Menarini, Merck, MSD, Novartis, Novo Nordisk, Novo Nordisk Foundation, Pfizer, Roche, Shionogi, Takeda, Teva, UCB

About AMR Action Fund

The AMR Action Fund is an initiative from over 20 leading biopharmaceutical companies that have pledged to invest nearly US$1 billion, with the aim to bring 2-4 new antibiotics to market by 2030. The AMR Action Fund will invest in small companies developing innovative antibacterial treatments. It will forge partnerships with institutions and philanthropic organizations, development banks, and multilateral organizations to strengthen and accelerate antibiotic development. It will also work with governments to ensure there is a sustainable pipeline of new antibiotics to fight superbugs.

The concept of the AMR Action Fund was developed by the IFPMA and the Biopharmaceutical CEOs Roundtable (BCR), and biopharmaceutical companies and foundation, in collaboration with the World Health Organization (WHO), The European Investment Bank (EIB), and the Wellcome Trust.

Contact information

Abigail Jones, Communications Director, IFPMA
a.jones@ifpma.org
+32 475 41 09 76

Silas Holland, Interim Director of External Affairs, AMR Action Fund
silas.holland@amractionfund.com
+1 202 329 0936

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Pacific Drilling Commences Voluntary Chapter 11 Proceedings; Restructuring Support Agreement to Eliminate All $1.1 Billion of Bond Debt; World-wide Operations Expected to Continue as Usual31.10.2020 00:52:00 CETPress release

Pacific Drilling S.A. (NYSE: PACD) announced today that it and certain of its domestic and international subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas and have entered into a restructuring support agreement with an ad hoc group of the largest holders of its outstanding bond debt. This consensual financial restructuring transaction will eliminate the Company’s approximately $1.1 billion in principal amount of outstanding bond debt through the cancellation and exchange of debt for new equity in the reorganized Company. The Company also announced today that it has repaid its $50 million first lien superpriority revolving credit agreement with Angelo, Gordon Energy Servicer, LLC, as administrative agent and the lenders party thereto. With approximately $120 million of cash and cash equivalents as of October 30, 2020, and seven of the most advanced high-spe

Homestead Capital Closes Fund III at Target, Surpasses $1 Billion in Cumulative AUM31.10.2020 00:07:00 CETPress release

Homestead Capital USA LLC (“Homestead”), a private equity firm investing in farmland in the United States, has held a final close of its third fund, Homestead Capital USA Farmland Fund III, L.P. (“Fund III”), with $596 million in capital commitments. With these additional commitments, the firm has surpassed $1 Billion in AUM across its three funds. “We are grateful for the support and opportunity to invest on behalf of our broad range of returning and new investors,” said Dan Little, Co-Founder and Co-CEO of Homestead. “We are humbled by our limited partners’ confidence in us as investors. Fund III represents an endorsement of our ability to drive positive investment outcomes and act as long-term stewards of our limited partners’ capital.” “The United States farmland market continues to undergo a transition that presents many attractive investment opportunities,” said Gabe Santos, also a Co-Founder and Co-CEO of Homestead. “Our strategy is uniquely suited to create value by utilizing o

Bennett Goodman and Avi Kalichstein Launch Hunter Point Capital to Invest in Alternative Investment Managers30.10.2020 19:03:00 CETPress release

Bennett Goodman and Avi Kalichstein today announced the formation of Hunter Point Capital LP (“HPC”), an independent investment firm seeking minority stakes in middle-market alternative asset managers. As part of the launch, HPC has formed a strategic partnership with a group of leading global investment entities associated with Jacob Rothschild. "I am thrilled to initiate this next phase of my career with such an exceptional team. Our HPC partnership seeks to leverage our collective expertise as investors and business builders to cultivate the next generation of outstanding investment franchises,” said Goodman. “Our goal is to help general partners achieve their long-term business objectives faster and with more certainty.” “At our core, Hunter Point Capital is focused on investment excellence. We seek managers with proven track records, who will benefit from a strategic, impact-oriented partner,” said Kalichstein. “There is an expanding universe of high-performing investment manageme

Code:n@xt: PROCAD to Lift the Veil on a New PLM Generation30.10.2020 17:31:00 CETPress release

On November 11, 2020, PRO.FILE next, the next product generation by PROCAD will be officially launched. At 11:00 AM EST, 10:00 AM CET, the groundbreaking, cloud-enabled platform for the digital transformation of business processes will be presented to the public for the first time at Code:n@xt, a must-attend event for anyone interested in digital transformation, information and product lifecycle management. PROCAD's managing directors, strategists, business developers, and developers will come together for Code:n@xt to present PRO.FILE next – whose code will change the world of PLM software. The online event will feature breakout sessions and a live demo of the new system, take a look at today's market demands and digital transformation trends, and give attendees the opportunity to chat with the company's experts. Where does digital transformation start? Where does a PLM platform as a Product Data Backbone fit into it? How do you build an information twin as a digital replica of a piec

INX Applies for Listing on the Canadian Securities Exchange (CSE)30.10.2020 14:00:00 CETPress release

INX Limited (“INX”) today announced its application for listing of its digital security, the INX Token, on the Canadian Securities Exchange (“CSE”). The listing application is subject to the approval of the CSE. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201030005313/en/ Shy Datika, Co-Founder and President at INX (Photo: Business Wire) INX recently launched the first SEC-registered digital security IPO for both retail and institutional investors. INX intends to use the net proceeds from the IPO for a launch of a regulated trading platform for digital assets and provide novel trading and capital raising financial instruments to enterprises in collaboration with traditional exchanges worldwide. The CSE is a proponent of exchange-listed digital securities and continues to work towards additional services in connection with the post-trade processes for these securities. Richard Carleton, CEO of the CSE has stated that “The

Veracyte Announces New Data Published in Journal of Clinical Oncology Suggest the Prosigna Breast Cancer Test’s Genomic Underpinning Drives Prognostic Performance30.10.2020 13:15:00 CETPress release

Veracyte, Inc., (Nasdaq: VCYT) announced today that findings from the first study evaluating the molecular drivers underlying multiple prognostic genomic breast cancer tests were published in the Journal of Clinical Oncology (JCO). Results suggest that the genomic underpinnings of Veracyte’s Prosigna® Breast Cancer Gene Signature Assay, particularly the test’s relative weighting of genes predicting tumor proliferation, may explain the classifier’s previously demonstrated, higher likelihood of predicting long-term risk of recurrence among certain breast cancer patients, compared to other breast cancer tests. The study compared the commercial forms of four breast cancer recurrence-risk tests: the PAM50-based Prosigna Risk of Recurrence (ROR), the Oncotype DX Risk Score (RS), EndoPredict (EP) and Breast Cancer Index (BCI). It expands upon a previous evaluation of these same tests using an identical dataset, which compared their ability to accurately predict 10-year distant disease recurre

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom