Liquidia Technologies, a biotechnology firm that develops vaccines, recently, recently received a $10 million dollar investment from the Bill & Melinda Gates Foundation to aid in finding a cure for malaria.
Liquidia, based in Research Park, North Carolina, is currently developing a seasonal influenza vaccine and is partnered with the PATH Malaria Vaccine Initiative to help find a cure for malaria, according to Bloomberg.
The investment from the Gates Foundation is part of a $400 million initiative to fund activities to help poorer countries. It is part of an effort intended to provide low-interest loans, loan guarantees and equity investments to help finance organizations that meet the group’s focus.
The Gates Foundation has supplied $13.8 billion in global health funding since 1994, according to figures on its website. Malaria research has been a major area of focus for this funding.
“Funding innovation is a key to addressing the unmet health needs of the world’s poorest people,” Doug Holtzman, deputy director for the foundation’s infectious diseases team, said in a statement, according to Bloomberg. “This unique investment partnership will help us advance vaccine development as part of our commitment to help research, develop and deliver vaccines for the world’s poorest countries."
Liquidia’s investors also include Canaan Partners, New Enterprise Associates, PPD, Inc., Pappas Ventures, Firelake Capital, Morningside Venture Investments, Ltd.