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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.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Frontier Nutrition Raises $6 million Series B Financing led by Adjuvant Capital to Expand Access to Fortified Snacks
February 3, 2021 GMT
DHAKA, Bangladesh, Feb. 3, 2021 /PRNewswire/ Frontier Nutrition, a company manufacturing and marketing affordable fortified snacks in Bangladesh, has announced a $6 million Series B financing led by Adjuvant Capital, a life sciences fund backed by the Bill & Melinda Gates Foundation, the International Finance Corporation, and other prominent global health investors with a mission to finance technologies and products addressing high-burden public health challenges. Proceeds from the financing will be used to bring manufacturing of several products in-house, launch a sales and marketing campaign to raise awareness of the consumer brand Hashi Khushi, and develop new products that can be used in research studies and international humanitarian efforts. Concu