BARDA seeks input on DRIVe Venture initiative
US agency BARDA is pushing forward its DRIVe Venture initiative. It now seeks feedback on this potential new novel public-private partnership that aims at leveraging VC experiences to build up a new investment fund. Infectious diseases will be among other relevant investment targets in the area of health security innovation.
DRIVe Ventures will work with corporate venture capital partners to invest in promising products, driving them to the marketplace to transform and enhance the US national health security.
With regard to this novel public-private partnership, BARDA now aims at identifying potential partners and capturing feedback. For this reason the DRIVe Ventures request for information (RFI) was released as a key component of BARDA’s Medical Countermeasure Innovation Partnership (MCIP) enabled in the 21st Century Cures Act.
DRIVe Ventures will be responsible for establishing and managing a venture capital fund dedicated to the development of a portfolio of innovative medical countermeasure products and technologies to address systemic healthcare challenges that impact the response to influenza, emerging infectious diseases, and chemical, biological, radiological and nuclear (CBRN) threats. DRIVe Ventures, through a third-party non-profit fund, will provide dilutive investment into promising health security products and technologies to enhance national health security preparedness and response.
DRIVe Ventures will have the ability to leverage “venture capital practices and methods,” similar to a corporate venture capital model. It will identify, invest-in, and promote the development of innovative medical countermeasures and address systemic challenges to ensure medical countermeasures are accessible when and where needed to enhance national health security. DRIVe Ventures seeks to link innovators and investors, leveraging partnerships and resources to address strategic needs of the federal government. By combining the forces of ASPR and BARDA with the ingenuity and experience of the venture capital community, DRIVe aims at accelerating the development of critical lifesaving medical countermeasures to increase the preparedness posture of the United States.
Now, BARDA DRIVe wants to hear from the venture capital community, including, but not limited to, venture capital firms, corporate venture capital, impact venture capital funds, and non-profit strategic investors with experience identifying promising innovative products and technologies. Feedback should be provided by March 4, 2019, 5:00pm ET.
More information: https://drive.hhs.gov/ventures.html