Gates Foundation invests $140 million in HIV, AIDS preventative treatment
To help create a device that will prevent people from contracting HIV and AIDS, billionaire Bill Gates has invested $140 million in Intarcia Therapeutics, a pharmaceutical company based in Boston, according to an International Business Times story.
Intarcia developed a drug pump originally designed to deliver medicine to patients with type-two diabetes that can be implanted underneath the skin. But now the company plans to use the same technology to help patients from getting HIV and AIDS. The device would not cure those who already have the disease, just help prevent it from spreading.
The funds will be invested through the Bill and Melinda Gates Foundation, which gave $50 million in equity stakes to the company and provided $90 million in grants toward developing the device.
To read more about the investment and Intarcia’s device, follow the link below.
Senior Writer
As a Senior Writer for TriMed Media Group, Katherine primarily focuses on producing news stories, Q&As and features for Cardiovascular Business. She reports on several facets of the cardiology industry, including emerging technology, new clinical trials and findings, and quality initiatives among providers. She is based out of TriMed's Chicago office and holds a bachelor's degree in journalism from Columbia College Chicago. Her work has appeared in Modern Healthcare, Crain's Chicago Business and The Detroit News. She joined TriMed in 2016.