Specialist fund administrator Vistra has entered into a partnership with biopharmaceutical initiative AMR Action Fund to develop new antibiotic treatments in a bid to stay ahead of antimicrobial resistance.
The ultimate goal of the partnership is to enable AMR Action Fund to bring two to four new antibiotics to market by the end of this decade. Vistra was chosen by AMR Action Fund to provide multi-country fund administration.
AMR Action Fund, a global venture capital fund, is an initiative of the International Federation of Pharmaceutical Manufacturers & Associations – the international body representing the research and development pharmaceutical industry – as well as the World Health Organization, the European Investment Bank, and charity foundation the Wellcome Trust.
Henry Skinner, CEO at AMR Action Fund, said “AMR [antimicrobial resistance] is a global issue that could have public health and economic consequences greater than Covid-19. We need to act swiftly and purposefully to address the threat and working with Vistra has enabled us to do that.”
Skinner added that Vistra has been instrumental in helping the antimicrobial resistance fund build momentum.
With its $370 billion (€315.1 billion) of assets under administration globally, Vistra will support the AMR Action Fund across their entire fund structure, enabling the AMR Action Fund to focus on sourcing investments across their US and Luxembourg Funds.
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