The Global Health Innovative Technology (GHIT) Fund on Monday announced that global charitable foundation Wellcome has granted it $20 million for its third five-year plan, GHIT 3.0, over the next five years.
Since its inception in 2013, GHIT Fund has been investing in new drug development and portfolio management to contribute to global health, supporting Japanese technology and innovation to combat infectious diseases such as malaria, tuberculosis, and neglected tropical diseases that affect the world's vulnerable and underserved populations.
GHIT said that in 2023, the tenth anniversary of its founding, it will aim to streamline and accelerate research and development for malaria, tuberculosis, neglected tropical diseases, and other infectious diseases.
The organization added that the GHIT fund has 61 ongoing projects, including 28 discovery projects, 20 preclinical projects, and 13 clinical trials; it has invested 28.4 billion yen (approximately $204 million) since its inception.
GHIT Fund is a Japan-based international public-private partnership fund formed by the government of Japan, pharmaceutical companies, the Bill & Melinda Gates Foundation, Wellcome, and the United Nations Development Programme.