The RIGHT (Research Investment for Global Health Technology) Foundation, Korea's first funding agency dedicated to supporting global health R&D via the Korean government, is poised to usher in a fresh wave of transformative health solutions.

"Beginning Nov. 1, the foundation is inviting proposals for both the Product Development Award (PDA) and the Training Award (TA)," RIGHT Foundation Chief Strategy Officer (CSO) Lee Hoon-sang said during a press conference on Thursday.

According to Lee, the PDA is targeted at companies or research institutions developing vaccines, treatments, and diagnostic platforms for low- and medium-income countries (LMICs) to improve health equity.

"This award pledges its support to innovative research and development projects, focusing on the creation of vaccines, therapeutic agents, and diagnostic platforms," Lee said. "Through the PDA, RIGHT Foundation aims to bridge the gap in unmet medical needs of these vulnerable regions."

Lee explained that while there have been several PDA proposal periods in the past, the PDA proposal this time around diversifies into two distinct categories -- general and targeted.

"The general category targets research and development in the realms of vaccines, therapeutics, and diagnostic platforms," Lee said. "With a rolling submission window, projects can be tabled throughout the year, and the award even extends support to technology transfers with Korean corporations or allied institutions."

This category casts its net wide, focusing on diseases that amplify health disparities in economically challenged regions, taking into account the looming shadows of potential pandemics and chronic diseases intertwined with infections, Lee added.

The CSO commented that the funding will provide support from pre-clinical trial stages, scaling up to product approval evaluations and even encompassing World Health Organization's (WHO) Prequalification (PQ) assessments.

"The targeted category, on the other hand, narrows its lens to specific research avenues, with an emphasis on bio-pharmaceuticals, especially monoclonal antibodies," Lee said. "This category aims to address certain diseases, such as respiratory syncytial virus (RSV), malaria, and other infections with high pandemic potential."

For both the general and targeted categories, Lee explained that applicants can look forward to a potential funding of 4 billion won ($2.9 million) per project, with a maximum project duration of 36 months.

"For-profit corporations that want to apply for the award must note that they must source 50 percent of the total research expenses as joint research funding," Lee said. "It's essential that all applicants propose a research budget reflecting the depth, scope, and timeframe of their study."

During the press conference, Lee also introduced the newly established Training Award (TA), which aims to foster talent by inviting 40 candidates from low-to-middle-income nations to learn Korea's robust vaccine and bio-manufacturing know-how.

"This award is part of the 'Global Bio Talent Hub (GTH-B)' initiative, established in collaboration with the Korean government and WHO, aiming to transfer Korea's advanced bio-manufacturing knowledge and techniques directly to these countries," Lee said. "Beneficiaries will be selected from those aspiring to attend vaccine process training, and the foundation will cover all associated costs."

The training comprises an eight-week program, including a theoretical and hands-on module. The initial three weeks will be conducted online in the candidates' home countries, followed by a five-week intensive training in Korea, Lee added.

Lee said that the comprehensive training will be held at the K-NIBRT (National Institute for Bioprocessing Research and Training) facility, located at Yonsei University's Incheon Songdo Campus.

"We will set up several online briefings this month for both domestic and foreign companies and personnel that want to submit a proposal," Lee said. "Those who want to make further inquiries about the two awards can do so by emailing us at RFP@rightfoundation.kr"