The Pandemic and Bio defence Fund of Kleiner Perkins Caufield & Byers (KPCB) has so far received about 400 plans and proposals. The $200m Fund was formally created during February 2006.
The Fund is being put into use for purposes such as surveillance, diagnostics, vaccinesm therapeutics, enabling technologies. The Fund aims at providing global access to commercialising innovations in developed countries and low cost access in developing countries.
Dr Thomas Monath, partner, Pandemic and Biodefense Fund, KPCB, said, the focus of the Fund will remain on unmet medical needs, innovation, novelty, sustainable platforms, intellectual property, market size, competitive advantage and internal rate of return on investment.
The criteria for selecting a funding proposal will be primarily associated with the internal expertise of the seeking company, scientific data available, regulatory risks involved in developing the vaccines or therapeutics. The company will invest in companies developing fundamentally new platforms for detection, prevention and treatment of global, pathogenic infectious diseases.
More than 15 million people worldwide die each year from infectious diseases. Over one third of the world's population lacks access to essential drugs. This new fund addresses the immediate requirement for the science, pharmaceutical, and government sectors to close significant gaps in global public health preparedness.
KPCB will work with biotech companies, universities, pharmaceutical companies, government agencies worldwide, and other venture firms to back and encourage innovations in pandemic preparedness. The fund's first investment is in BioCryst Pharmaceuticals, Inc. an Alabama company with a portfolio of products in development including Peramivir, an influenza antiviral drug candidate.
KPCB began investing in and helping to build life sciences companies in 1977 when it was the founding investor in Genentech. Since then, the firm and its Partners have backed entrepreneurs in 100 life science companies working in every area of medicine, including cardiology, cancer, neurology, immune system diseases, ophthalmology, and molecular diagnostics. Since its founding in 1972, KPCB has backed entrepreneurs in over 475 ventures, including Genentech, Genomic Health, IDEC Pharmaceuticals besides several others.
More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions.
Once a company has been chosen, the KPCB will take the Board seat, provides active assistance and ongoing support from its existing network, Dr Thomas Monath, added. KPCB has signed several agreements with leading Universities globally, including the Hong Kong University and several Chinese Universities to aid in advancements in vaccines and therapeutics research.