The rise of drug-resistant infections and superbugs, which could kill 10 million people a year by 2050 (more than cancer kills today), is becoming a major threat. Antimicrobial drugs are becoming less effective and the world is not developing enough new solutions to keep up. If we don’t take action now, the global costs of facing this challenge in later stages could amount to around USD 100 trillion.
The European Commission, the European Investment Bank and the European Federation of Pharmaceutical Industries and Associations are responding to the challenge. In a letter to the world-renowned medical journal The Lancet, they point out that through investments in innovation, the EU has enabled pharmaceutical companies to carry on their research in antimicrobials. These efforts are now resulting in new therapeutics and diagnostics. A positive momentum that now needs to be sustained.
The European Investment Bank, in cooperation with the European Commission, is committed to keeping up the momentum through initiatives such as the InnovFin Infectious Diseases Finance Facility (IDFF), a financing instrument expected to bring new and innovative players to antimicrobial resistance research.
Furthermore, InnovFin Advisory opens the EU Bank's advisory expertise to actors in the innovation ecosystem and seeks to remove bottlenecks in access to finance faced by many research and development driven companies.
Read the letter sent to The Lancet here
The InnovFin Infectious Diseases Information Flysheet is available here
Visit the InnovFin Advisory page here