More than 20 biopharmaceutical companies around the world have pledged more than $1 billion toward the Antimicrobial Resistance (AMR) Action Fund that launched today.
Pledges include $100 million from Pfizer and $50 million from Boehringer Ingelheim.
An initiative of the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the fund’s goal is to bring two to four new antibiotics to market by 2030. The collaboration between pharmaceutical companies, philanthropies, development banks, and multilateral organizations is meant to re-invigorate antibiotic development — which has been lagging amid a rapid rise in antibiotic-resistant infections.
“Unlike COVID-19, [antimicrobial resistance] is a predictable and preventable crisis. We must act together to rebuild the pipeline and ensure that the most promising and innovative antibiotics make it from the lab to patients,” said Thomas Cueni, director general of the IFPMA.
“The AMR Action Fund is one of the largest and most ambitious collaborative initiatives ever undertaken by the pharmaceutical industry to respond to a global public health threat,” Cueni said in a news release.
New York–based Pfizer noted that it is one of the few large research-based pharmaceutical companies still active in the anti-infectives space.
“As the COVID-19 pandemic has shown, we must invest in the development of medicines now so that we are prepared to help prevent the next public health crisis,” said Pfizer CEO Albert Bourla.
“We strongly believe the world cannot tackle the growing threat of AMR without collaboration – and that it will take a combination of prevention measures, responsible stewardship and innovative thinking to overcome existing obstacles. The new AMR Action Fund gives us the vehicle to do that by investing in and stimulating a potentially stronger pipeline for antimicrobial medicines.”
Boehringer Ingelheim said the fund’s investor companies are located worldside, including those with and without antibiotic portfolios. The AMR Action Fund will cover all phases of clinical development — with a focus on early stages.
“Since partnering and investments in early-stage assets have long been part of our expertise, we look forward to contributing our competence to ensure a sustainable pipeline of new antibiotics to effectively fight superbugs and safeguard our future from the global threat of AMR”, said Hubertus von Baumbach, chair of the manging directors board at Boehringer Ingelheim.