To ensure shorter response time to epidemics such as Ebola, a coalition for fostering innovations in this regard has been launched at the WEF annual meet here.
The Coalition for Epidemic Preparedness Innovations (CEPI) would look to create vaccines that could be released quickly once an outbreak occurs.
By financing and doing the research before a crisis erupts, CEPI would help speed up the ability to counter the spread of an infectious disease such as Ebola, a release said today.
With USD 460 million in initial funding from the Bill & Melinda Gates Foundation, the Wellcome Trust and the governments of Germany, Japan and Norway, and promises for a total of USD 700 million, the programme involves the global vaccine manufacturers, the release said.
Bill & Melinda Gates Foundation Co-Chair Bill Gates said even though there is substantial risk for epidemics, there is not a natural market for vaccines.
"You have to get governments to create the right incentive structure. If you can predict what the pathogens are going to be and can get vaccines stockpiled, then that would be a very good response," he said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
