Seoul, Republic of Korea, June 3rd, 2020 – The RIGHT Fund (Younbeen Kim, CEO) announces a new RFP for a mid-to-large project award (Product Development Award) to seek R&D projects for vaccines, therapeutics, diagnostics, and digital health technology tackling endemic and emerging infectious diseases in developing countries including the COVID-19. The RFP is ongoing on the RIGHT Fund website from June 3rd to July 6th, 2020.
Founded in July 2018, the RIGHT Fund is a global research funding agency established through a public-private partnership between the Ministry of Health and Welfare of South Korea, 5 Korean life science companies (SK Bioscience, LG Chem, GC Pharma, Chong Kun Dang Pharm, Genexine) and the Bill and Melinda Gates Foundation, with the mission of promoting global health. The RIGHT Fund selects and financially supports R&D projects that leverage Korean innovation and technologies for the development of solutions addressing public health concerns and needs in developing countriesin regard of responding to infectious diseases, and plans to invest KRW 50 billion for this purpose until 2022.
The RIGHT Fund is already funding five R&D projects, selected as first mid-to-large projects in 2019, with a total of KRW 10 billion. And it will soon announce its funding decisions on additional projects of which the combined funding commitment will be around KRW 18 billion this year. The RIGHT Fund is planning a total of three requests for proposals this year by adding its one more RFP for the small project award in November.
The ongoing request for proposals is currently open, and proposals can be submitted to the RIGHT Fund website (https://rightfund.org). Regarding this request, the RIGHT Fund will host a web-seminar on its website, June 12th.
Younbeen Kim, CEO of the RIGHT Fund, stated, “It’s critical to increase the capacity of success and sustainability for the R&D projects by making full use of each organization’s strength through public-private partnerships to fight against infectious diseases including the COVID-19” Kim added, “The RIGHT Fund, as the global research funding platform leveraging a well-known strength of Korea, will further contribute to solving the health inequality in developing countries and improving public health globally, by expanding its support for research this year.”