Category: Investments & Funding

A boost for the NHS as the UK government announces a US$50.3m investment on AI research

Frank

UK – The UK government has announced a hefty £36bn funding boost for artificial intelligence (AI) research technologies in a bid to help the National Health System (NHS) transform the quality of healthcare. Funding will go toward the winners of the second wave of the NHS AI Lab’s AI in Health and Care Award. The AI award package also includes funding to support the research, development and testing of early phase, of promising ideas which could be used by the NHS in the future. Since the first round of the…

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1MG now valued at US$450m after Tata group buys 51% of its stake

Frank

INDIA – IMG, an e-pharmacy retailer incorporated in 2015 that also offers teleconsultation services and operates three diagnostics labs is now worth US$450million after Tata group buys 51% of its stake to become a majority shareholder. Tata group, is an Indian public multinational conglomerate manufacturer of automobiles, airplanes and with previous affiliation to the pharma industry bought stakes worth US$230million. The e-pharmacy venture, 1MG was valued at US$242 million and had already raised US$156 million worth of capital prior to Tata group’s mega investment with a recorded a loss of…

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WHO donates provisions in pledge to support epidemiologic preparedness in Liberia

Frank

LIBERIA – The World Health Organization (WHO) has delivered a huge consignment of Infection Prevention Control (IPC) supplies and laboratory diagnostic kits to Liberia to strengthen the response to COVID-19 and improve preparedness to EVD. The supplies donated included diagnostic kits for COVID-19 and supplies for IPC in health facilities. This is a subsequent donation following lifesaving medicines and laboratory supplies for testing COVID-19 and Ebola Virus Disease (EVD) donated to the government of Liberia by the WHO in March this year. The supplies included Praziquantel tablets to treat nearly…

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Islamic Development Bank fruitfully cements alliance to fight avoidable blindness in Djibouti

Frank

DJIBOUTI – The Islamic Development Bank (IsDB), the Alliance to Fight Avoidable Blindness (AFAB), and the Islamic Solidarity Fund for Development (ISFD) have successfully executed cataract surgery campaigns in the city of Djibouti and its surrounding rural localities. This has been accomplished in their second phase of efforts to fight avoidable blindness which has seen 11,709 patients receive vision screening with 1,032 cataract treatment surgeries conducted, in addition to providing post-surgical monitoring and visits to patients in Djibouti. “My sincere thanks to the Islamic Development Bank and the Azerbaijan International…

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Canada announces US$8m support for hospitals in Ghana’s Ashanti region

Frank

GHANA – The Canadian government in partnership with UNICEF has offered US$ 8 million to improve quality health, nutrition, sanitation, and hygiene services in four selected hospitals in the Ashanti Region, with a focus on gender equality. This partnership aims to strengthen the region’s capacity to diagnose and treat COVID-19 patients through the provision of training and supplies, including digital tablets, protective gears for frontline health workers, oxygen therapy equipment, laboratory equipment for regional laboratories and clinics. H.E. Kati Csaba, Canadian High Commissioner to Ghana who announced the package, said…

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African countries win the race against time with testing laboratories thanks to the African Development Bank

Frank

IVORY COAST – Daily testing capacity of African countries has risen from 13,200 at the beginning of the epidemic to 105,000 tests at the moment. At the beginning of the pandemic, Africa had its back to the wall, helpless in the face of the magnitude of a virus that appeared in Asia and quickly spread to the entire planet. Only two African countries were able to test for the novel coronavirus at the time, Senegal, with its Pasteur Institute, and South Africa, the most industrialized country on the continent. However,…

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Andaman7 and Afrisda sign partnership agreement to support digital health implementation in Africa

Frank

AFRICA – With Africa emerging as the new breeding ground for innovative digital health solutions, Belgian American e-health company Andaman7 and African Sustainable Development Advisors (Afrisda, Inc.), have signed a partnership agreement to support digital health implementation in Africa. The COVID-19 pandemic has highlighted the need for global health solutions to benefit all nations. Africa’s vast population which bears the world’s greatest disease incidence and significant healthcare shortages, makes digital health a key area of focus. Furthermore, the challenge and opportunity to increase the use of digital health solutions to…

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GAVI receives US $28.9 million from KFW Development Bank to boost routine vaccinations for children in EAC

Frank

EAST AFRICA – KfW has given US $28.9 million on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) to support GAVI, the Vaccine Alliance, in effectively protecting children in the East African Community (EAC) against infectious diseases. The funds will be used to facilitate the procurement of vaccines, consumables, transport and insurance on a pro rata basis. This funding comes as a follow up to the US $346.1 million kfW has issued to fund immunization programs in East Africa since 2013. The funds have made possible…

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PharmEasy achieves US$1.8B valuation after B Capital’s investment

Frank

INDIA- PharmEasy, an e-commerce drug supply store is now valued at US$ 1.8B after B capital bought stakes worth US$ 20M of the company. Prior to the investment, Pharmeasy was valued at US$ 1.5billion and is among the few Indian startups that have been able to achieve a unicorn status. B capital, a multi-stage global venture capital firm, bought the stakes from Everstone Capital an Indian based investment company that decided to sell part of the PharmEasy stakes. Earlier this year, PharmEasy closed the acquisition of smaller rival Medlife and…

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Brains Bioceutical secures US$ 31.9m from DSM venturing

Frank

CANADA – Royal DSM venturing a Dutch multinational corporation active in the fields of health, nutrition and materials has pumped US$ 31.9m worth of investment into Brains Bioceutical corporation during an investment round and capital raise. This major investment was made possible by Del Morgan & Co., an affiliate financial agent of Brains Bioceutical corporation. Brains is among the leading identifiable companies that heavily ventures into cannabinoid (CBD) as an Active Pharmaceutical Ingredient (API) through research, development, production and clinical trials. CBD, an active ingredient in cannabis is derived from…

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