Dive Brief:
Investors including Merck & Co., Novartis and the Bill and Melinda Gates Foundation have poured $300 million into a new fund launched by investment firm Adjuvant Capital to focus on public health challenges that are "historically overlooked."
In a statement, Adjuvant's managing partner, Glenn Rockman, highlighted diseases such as malaria and tuberculosis that can ravage poorer countries around the world, but get little attention from Wall Street. The fund will also be looking at viruses that pose threats to developing nations and wealthy countries alike, he said.
Any investment will require commitments that products will be broadly available to people in low- and middle-income countries, Adjuvant said.