governance

fund management principles

During its investment period, the Fund has provided venture loans bearing interest to leading corporations active in the field - which was reflecting the high risk of the underlying portfolio. 

To mediate the investment risk, a layered fund structure had been conceived. It was composed by a public benefit investment ("First Loss Piece"), furthered by an identical amount from investors and by a donation tier ("Certain Loss Piece"). 

The fund is managed by the Investitionsbank Berlin (IBB Group), with the European Investment Bank (EIB) participating as one of the public benefit investors. The EU Malaria Fund has been initiated by kENUP Foundation. 

For all parties involved, the Malaria fund also served as a proof-of-concept for this novel private public partnership on innovation funding in domains with substantive market failures. Since the fund has appeared to be effective and efficient, similar financing facilities may be considered, for example on antibiotics and antivirals. 

With the announcement dated July 26, 2021, the EU Malaria Fund has successfully accomplished its mission earlier than expected. Therefore, on June 30, 2021, its investment period has ended. The Fund looks back at successfully initiating more than two dozen novel scientific approaches to the fight against malaria, and on financing numerous innovative companies. 

The EU Malaria Fund aims to conclude all investments already in concrete negotiations, following positive decision by all its Committees, and disburse those to the companies in case the respective financing contracts will be signed timely, and provided that the preconditions for disbursements are fulfilled prior to September 30, 2021. Thereafter, it will service the investment portfolio until the end of the post-investment phase period. No additional funding and investments will be made by the Fund, and it will thus not call upon further disbursements from its investors. 

our structure

The EU Malaria Fund is a public-private partnership between the European Union, International Organizations, corporations, and organized civic society, providing a novel funding instrument to address market failures in infectious diseases with significant relevance to public health globally. It has been initiated by kENUP Foundation, the Fund's supreme organ is the Scientific Advisory Council. The Fund was inaugurated during a public ceremony held online on June 3, 2020. 

With the enormous scientific advancements during the COVID-19 pandemic, the opportunity to develop large-scale projects has come up. Those aim at the eradication of the disease on technology platforms now proven through the development of COVID-19 vaccines. Thus, the EU Malaria Fund has successfully accomplished its mission earlier than expected. Therefore, on June 30, 2021, its investment period has ended. The Fund looks back at successfully initiating more than two dozen of novel scientific approaches to the fight of Malaria, and  on financing numerous innovative companies. 

Currently, the Fund concludes those additional investments that had received full Committee approval by June 30, 2021, and will disburse such financing to the respective companies prior to September 30, 2021. Thereafter, it will service the investment portfolio until the end of the post-investment phase period. No additional funding and investments will be made by the Fund, and it will thus not call upon further disbursements from its investors. 

During its investment period, The EU Malaria Fund has aimed to
  • Support the control, and potentially eradication, of malaria;
  • Provide venture loans at preferential terms to incorporated, scientifically promising projects not yet pursued by the pharmaceutical industry, thus helping to extend the deal-flow in the domain of tropical diseases;
  • Fund platform projects allowing for secondary exploitations of their anti-malaria assets, for example into COVID-19; 
  • Work with a thoroughly considered portfolio of pre-selected  companies, thus ensuring its ability to fund  Malaria R&D right away; 
  • Serve as a “case-in-point” for the set up of similar funding instruments to address other pressing medical needs with underlying market failures comparable to those in malaria (for example: NDDs, AMR).

the Scientific Advisory Council

The EU Malaria Fund supreme organ is the Scientific Advisory Council. It is composed of the following members: 

  • Dr. Pedro Alonso, Director of the WHO Global Malaria Programme, World Health Organization.  non-voting member
  • Prof. Dr. Ruth Arnon, The Paul Ehrlich Professor of Immunology, Weizmann Institute of Science. Former President of the Israel Academy of Sciences and Humanities. Council Co-Chair
  • Prof. Dr. Stefan H. E. Kaufmann, Founding Director of the Max Planck Institute for Infection Biology Berlin. Council Co-Chair
  • Prof. Dr. Myron Max Levine, Grollman Distinguished Professor and Associate Dean for Global Health, Vaccinology and Infectious Diseases, University of Maryland. 
  • Dr. Michael Makanga, Executive Director of the European & Developing Countries Clinical Trials Partnership (EDCTP). 
  • Dr. N. Regina Rabinovich, ExxonMobil Malaria Scholar in Residence, Harvard T.H. Chan School of Public Health, Harvard University. 
  • Stefania Salmaso, Former Director of the National Centre of Epidemiology, Surveillance and Health Promotion. Istituto Superiore di Sanità, Roma.
  • Prof. Dr. Marcel Tanner, President of the Swiss Academy of Sciences.
  • Prof. Dr. Halidou Tinto, Member of the Scientific Advisory Committee of EDCTP, Head of Clinical Research Unit of Nanoro (CRUN), Burkina Faso.  

governance

The EU Malaria Fund is managed by Investitionsbank Berlin (IBB Group), the public promotional bank of the State of Berlin, a  State in the Federal Republic of Germany. The fund is domiciled in Germany. 

During the Fund's investment period, investment decisions have been made by an independent  Investment Decision Committee composed of investment professionals not related to the domain. This Fund is monitored by Investitionsbank Berlin and supervised by a Supervisory Board.  Public and private investors co-ordinate their contributions through an Investors Advisory Council. 

The Investment Committee received non-binding guidance from the technical and operational teams of the European Investment Bank (EIB), as well as from an expert team at the National Academy of Medicine, Washington DC - the former"IOM" - as well as from the fund's own Scientific Advisory Council. 

The EU Malaria Fund has been initiated by kENUP Foundation. 

donors

Donors and impact investors to the fund provided policy guidance to the Scientific Advisory Council through a dedicated Investor's Advisory Council. 

the management company

The EU Malaria Fund is managed by IBB Group, the public promotional bank of the Federal State of Berlin. General Partner of the EU Malaria is EMM EU Malaria Fund Berlin Managementgesellschaft mbH. The company's offices are located on the premises of Investitionsbank Berlin at Bundesallee 210, D-10719 Berlin, Germany. The EU Malaria Fund is managed by  Mr. Torsten Harr and Mr. Stefan Sonnenberg,  both Managing Directors of the EU Malaria Fund. Also depicted here is Mr. Holm Keller, Executive Chairman of kENUP Foundation and initiator of the EU Malaria Fund. You can reach the team at team@controlMalaria.eu.  

the team

During its investment period, in addition to a staff of twelve at the Fund's management company, colleagues from kENUP Foundation, the European Union. the European Investment Bank, the State of Berlin, Investitionsbank  Berlin as well as from the other investors and donors are contributing to the proceedings of the EU Malaria Fund. 
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