EU Malaria Fund enters post-investment period
September 30, 2021 in Berlin
Today the EU Malaria Fund (EUMF) concluded its investment activities at a high-level online event by finalizing its investments into four innovative companies active in malaria R&D. The EUMF has successfully expanded the pipeline of malaria R&D by funding nine promising and innovative malaria projects, covering treatments, vaccines, and diagnostics.
The COVID-19 pandemic has changed the game and led to the deployment of four EMA-approved, safe, and effective vaccines within less than 12 months. With this novel need to develop a large project on a now proven technology platform, the EUMF has successfully accomplished its mission earlier than expected. The EUMF will now enter its post-investment period.
The EUMF is grateful to the European Commission and the European Investment Bank (EIB), the major contributors to the Fund through the InnovFin EU programme funded by EU Horizon 2020 and the European Fund of Strategic Investments.
Other investors and supporters include the Investitionsbank Berlin, the Bill & Melinda Gates Foundation, Fondazione Monte Dei Paschi Di Siena, Jacques und Gloria Gossweiler Stiftung, Invethos AG, FINDdx, and Novartis AG. The fund was initiated by kENUP Foundation in cooperation with EIB and is managed by IBB Group Berlin.
The investments would not have been possible without the excellent work of the Funds Scientific Advisory Council and the Investment Decision Committee.
On July 26,2021 BioNTech SE announced the start of its Malaria project which aims at the development of a safe and highly effective malaria vaccine and the implementation of sustainable vaccine supply solutions on the African continent. The program was initiated by kENUP Foundation. Additional such programmes are currently being conceived and could cover other infectious diseases, such as tuberculosis and HIV.
Pedro Alonso, Director of the World Health Organization’s Global Malaria Programme, states: “The EU Malaria Fund is a great example how innovative new instruments can ultimately lead to impact. Malaria is the biggest killer of mankind. It affects the poorest and contributes to keeping them in poverty. I would like to thank everyone involved in the EU Malaria Fund project for their contribution to fighting malaria.”
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth: “Malaria is one of the most challenging diseases to beat and all efforts to find new vaccines or preventive means are important. For decades the European Union’s research and innovation programmes provided support to contribute to the global research agenda for malaria and we are committed to continue these efforts.“
Werner Hoyer, President of the European Investment Bank: “Malaria kills more than 1000 people each day – most of them children. Every step in the fight against the disease is welcome and much needed. Thanks to the successful work of the EU Malaria Fund, which financed nine promising projects, we significantly increased our chances to find new medications, diagnostics and vaccines. I am proud that the EIB is part of this effort.”
Angeliki Krisilion, Member of the Management Board of Investitionsbank Berlin and Chair of the Supervisory Board of EMM EU Malaria Fund Berlin Managementgesellschaft mbH: “Berlin is an important hub for medical science in Europe. IBB Group has done groundbreaking work in the fight against malaria with the EU Malaria Fund by providing financial support to companies developing products to fight malaria. We are grateful to the team of the EU Malaria Fund for adding concrete and impactful measures empowering the fight against malaria.”
Torsten Harr, Co-Managing Director of EMM and Head of IBB Corporate Investments of IBB on behalf of IBB Group: “As IBB Group, we are proud to be asked by the stakeholders of the EU Malaria Fund to support them in establishing the Fund and providing the relevant financial services. Together with our partner European Investment Bank (EIB) and with the support of our lawyers from Dentons Europe LLP we were able to build up a unique legal framework to ensure the professional administration of this venture loan business in favour of the companies. I am absolutely convinced that the EUMF was a further step forward to strengthen Berlin as a relevant hub for global life science business.”
Stefan Sonnenberg, Co-Managing Director of EMM: “I’m grateful to have the chance to lead the EUMF Team as Managing Director. We really can be proud about the fact that we found individual financing solutions for portfolio companies with an overall volume of about €44 million. This is a relevant contribution in the fight against malaria and other diseases and therefore an excellent example for real Social Impact Investment. I wish all our EUMF portfolio companies the greatest possible success! I’m sure, mankind will be able to win all fights against diseases based on the technological progress like mRNA technology. There is a lot of room for improvement, but fortunately some really great examples are on the horizon like the new initiative eradicateMalaria.”
Holm Keller, Executive Chairman of kENUP Foundation and Initiator of the EU Malaria Fund: “It is encouraging to see that the malaria research and development pipeline, contrary to the historical trend, is filling up. We are grateful to the EU Malaria Fund, the portfolio companies, investors, the Scientific Advisory Council, and the Investment Decision Committee for their contribution. With the momentum created by the EUMF, we now look forward to working on new initiatives such as the eradicateMalaria programme.”
A recording recording of the full event can be accessed
here.