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June 08, 2021 | Tom Ballard

HHS, non-profit announce investment fund to spearhead commercialization efforts

The U.S. Department of Health and Human Services (HHS) has announced a public-private partnership with non-profit organization Global Health Investment Corporation to develop and commercialize technologies and medical products that aid the U.S. in responding effectively to future health security threats.

BARDA Ventures, the venture arm of HHS’ Biomedical Advanced Research and Development Authority (BARDA), is spearheading the initiative and plans to provide GHIC with a minimum of $50 million over five years with potential for up to $500 million over 10 years.

With BARDA Ventures funding, GHIC plans to collaborate with companies from around the world to source promising products with the potential to strengthen health security and generate financial returns, the organizations said.

Read more about the new initiative here.

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