GHIF announces sale of MDGH's Priority Review Voucher (PRV).
M2 EQUITYBITES-May 8, 2019-GHIF announces sale of MDGH's Priority Review Voucher (PRV)
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The Global Health Investment Fund (GHIF) reported on Tuesday the sale of Medicines Development for Global Health's (MDGH) Priority Review Voucher (PRV) following the US Food & Drug Administration (FDA) approval of moxidectin for river blindness (onchocerciasis), a debilitating disease in low-income countries.
Headquartered in Melbourne, Australia, MDGH's moxidectin, an oral treatment, is the first new US FDA-approved treatment for river blindness in the last 20 years.
Since 2015, GHIF has provided USD13m to support MDGH's efforts to complete clinical studies, manufacture moxidectin as well as conduct the US FDA's registration process. Under a Global Access Agreement, significant proceeds will go towards additional research on moxidectin as well as its deployment in key underserved markets at risk for river blindness.
The FDA's neglected tropical disease PRV program is designed to encourage the development of drugs and treatments for rare and neglected diseases. Upon approval of a new treatment for a listed neglected disease, the developer receives a voucher to receive a priority review for another product from the FDA. This priority review shortens the review of a new drug application to six months rather from ten or more. The voucher can be sold, without restrictions, to third parties.
GHIF, a social impact investment fund structured by JPMorgan Chase & Co and the Bill & Melinda Gates Foundation, finances the development of drugs, vaccines, devices and diagnostics for diseases that disproportionately burden low-income populations.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 8, 2019|
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