The Research Investment for Global Health Technology (RIGHT) Fund said it would expand its support for research and development (R&D) projects to prevent and treat endemic and emerging infectious diseases, including COVID-19.
Established in July 2018, the fund is nonprofit foundation supporting global health R& through the public-private partnership between the Korean government, local life science companies, and the Bill and Melinda Gates Foundation. Among the Korean corporate participants are SK Bioscience, LG Chem, GC Pharma, Chong Kun Dang Pharmaceutical, and Genexine.
|The RIGHT Funds has announced its Request of Proposal for Technical Accelerator Award to promote healthcare development in developing countries.|
In addition to its existing Product Development Award (PDA), the fund recently launched Technical Accelerator Award (TAA) to promote proof of concept (POC)-based innovative ideas. The request for proposal is on its website until 10 a.m., KST, on April 2.
The fund plans to invest 50 billion won ($41.5 million) until 2022 in supporting R&D projects that make most of Korea’s pioneering ideas and technologies to develop vaccines, therapies, and diagnostics for public health in developing countries. In the first stage, the fund will invest 10 billion won into five research projects.
The fund primarily focuses on late-stage projects for the development of new formulation and manufacturing technologies. Korea has an advantage in the field to present the outcomes to people in the targeted countries.
The recently launched TAA aims to enable quick initiation of proof-of-concept research that targets infectious diseases without therapeutics, vaccines or diagnostics. It also promotes quality projects for the fund’s mid- to large-sized award platform.
The fund plans to make three calls for proposals this year -- two for TAA and one for PDA in June. The entire investment through grant awards will exceed 10 billion won.
“We need an innovative medical technology to prevent and fight against infectious diseases,” RIGHT Fund’s Executive Director Kim Youn-been said. “We will increase the fund to support studies with high demand and contribute to enhancing Korea’s technology used for global healthcare.”
The first call for proposals has been made with the details available at the fund’s website (http://www.rightfund.org).
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