Merck & Co., Inc. and Novartis AG have joined with the Bill & Melinda Gates Foundation to back a $300m venture capital fund that will support start-ups that are tackling neglected diseases that disproportionately impact people in low and middle income countries.
The big pharma firms are investing in the oversubscribed debut offering of Adjuvant Capital, which launched the fund in 2019 and completed the fundraising in December but has only now disclosed its partners and plans