HHS wants investors to help prevent next pandemic

U.S. Department of Health and Human Services (HHS)

The U.S. Department of Health and Human Services (HHS) is turning to venture capital to speed the development of medical devices to stave off or fight public health emergencies.

HHS’s Biomedical Advanced Research and Development Authority (BARDA) plans to provide the nonprofit Global Health Investment Corporation (GHIC) with a minimum of $50 million over five years, with potential for up to $500 million over 10 years. GHIC will start a global health security fund with matching capital from other investors to identify, nurture and commercialize breakthrough technologies to aid the U.S. in responding effectively to future health security threats, according to HHS.

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