GATES FOUNDATION AWARDS $5.4 MILLION FOR GLOBAL HEALTH

The Bill & Melinda Gates Foundation awarded a $5.4 million grant to BIO Ventures for Global Health, a nonprofit organization that plans to use the funds to work with biotechnology companies to improve global health. "The biotechnology industry has tremendous potential for developing new therapeutics, vaccines and diagnostics against diseases of the developing world," said Dr. Richard Klausner, executive director of the Gates Foundation's Global Health program. "For too long, funding, market, and information barriers have prevented biotech companies from realizing this potential."

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