GHIC Receives Initial Funding from BARDA
September 24, 2021
GHIC received its first installment of BARDA funding
under the GHIC-BARDA partnership agreement in the amount of $10 million. The funds are to be invested by GHIC in companies that develop and commercialize technologies and medical products to strengthen global health security and pandemic preparedness as well as generate a financial return.
The initial tranche follows the completion by the Global Health Investment Corporation (GHIC) of its preliminary partnership milestones. Under the terms of the agreement, BARDA plans to provide GHIC with a minimum of $50 million over five years with the potential for up to $500 million over 10 years, subject to availability of funding.
GHIC will commence investment activities through direct investments in eligible companies, and subsequently, through a global health security investment fund with matching capital from the public, philanthropic, and private sectors. As the investments generate returns, proceeds from BARDA Ventures funding will be reinvested by GHIC to generate additional health security impact.