"With 250 million people infected worldwide and more than 1 million deaths each year, malaria is one of the most pressing global health issues," Chief Executive Daniel Vasella said. "This funding will allow us to utilize these capabilities in the fight against malaria."
The public-private partnership -- which includes British charity The Wellcome Trust, the Singapore Economic Development Board and nonprofit organization Medicines for Malaria Venture -- will "investigate the potential for development of existing compounds that have already shown antimalarial activity, and explore novel compounds," Novartis said.
According to the World Health Organization, malaria which is spread by mosquitoes which later cause wracking pain, fever and even possibly death, is the leading cause of death of children under 5 in sub-Saharan Africa.
Malaria however can be prevented and treated. While this disease has been eradicated in wealthy nations, 40% of the world’s population is still at risk, mostly in the poorest countries. Poverty, high cost of drugs and even resistance to malaria are some of the hurdles in its treatment.
Read the full report at Boston Business.
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