Novartis has announced the launch of a $20m response fund to support communities around the world which have been most impacted by the COVID-19 pandemic.
The Novartis COVID-19 response fund is set to provide $20m in grants to support public health initiatives to help communities manage the challenges posed by the pandemic.
As outbreaks across the world are unfolding at a rapid pace, Novartis has established a fast-track review process that will allow for quick approval and disbursement of grants worth up to $1m.
The Swiss pharma has outlined a rough guideline for potential initiatives that would qualify for a financial grant – although it is not limited to specific areas.
That includes initiatives focused on strengthening local and national healthcare infrastructure, establishing digital platforms for COVID-19 related data collection, remote delivery of healthcare and effective dissemination of crucial public health information.
It will also look to provide grants for initiatives focused on creating new or enhancing new community health programmes specific to the pandemic response.
In addition to the response fund, Novartis has also entered into collaborative research efforts including the COVID-19 therapeutics accelerator, which was recently launched by the Bill & Melinda Gates Foundation, Wellcome and Mastercard.
It has also collaborated on a partnership organised by the Innovative Medicines Initiative, which has a direct focus on COVID-19 therapeutics.
Novartis will also donate several compounds in its libraries that are considered suitable for in-vitro antiviral testing, and is evaluating its existing products to see if they could be effective against the novel coronavirus disease.
This response fund is just the latest in a string of efforts made by pharma companies to help mitigate a pandemic which has quickly swept across the globe.
Biogen has also committed $10m to support global response efforts to the COVID-19 outbreak, and a host of companies, including Gilead, Moderna, Pfizer and more are developing vaccines and therapeutics targeting the virus.