BioCentury
ARTICLE | Finance

Gates adds bandwidth

Gates Foundation to expand biotech investing from $1B initiative

July 16, 2012 7:00 AM UTC

The Bill & Melinda Gates Foundation is planning to expand its funding of biotech companies through its $1 billion investment arm, the Program-Related Investments (PRI) initiative.

PRI is focused on technologies to lower the cost and improve the quality of global healthcare. Companies receiving PRI funding typically agree to make a low-cost product that addresses the needs of poor people in developing countries...