BIO Ventures for Global Health (BGVH) in Washington, D.C., has received a four-year, $5.4 million grant from the Bill & Melinda Gates Foundation to encourage biotechnology companies to develop drugs for diseases largely neglected because of disinterest and uncertainty about doing business in the Third World.

To that end, BVGH will launch a series of business case studies to assess and build market opportunities for neglected diseases. The first of those studies will evaluate the market opportunity for tuberculosis vaccines.

"The biotech industry has tremendous potential for developing new therapeutics, vaccines, and diagnostics against diseases of the developing world," said Richard Klausner, executive director of the Gates Foundation's global health program. "For too long, funding, market, and information barriers have prevented biotech companies from realizing this potential. We believe that BIO Ventures for Global Health will provide the means to help industry overcome some of these barriers. We congratulate BVGH in taking leadership in helping to bring the potential of biotechnology to improving health equity in our world."