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3/10, 6:33 AM (Source: TeleTrader)
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Gates Foundation pledges $50M to COVID-19 drugs

The Bill & Melinda Gates Foundation pledged $50 million to support the development of drugs for the COVID-19 on Tuesday, as a part of its $100 million commitment to the coronavirus response which was previously announced.

The foundation joined efforts with Wellcome Trust medical charity and Mastercard Impact Fund to create COVID-19 Therapeutics Accelerator, which will focus on developing medicine that will be used to treat patients infected with the virus.

"If we want to make the world safe from outbreaks like COVID-19, particularly for those most vulnerable, then we need to find a way to make research and development move faster. That requires governments, private enterprises, and philanthropic organizations to act quickly to fund research and development," stated the foundation's CEO Mark Suzman.

Breaking the News / ND