Eleven Therapeutics, an Israeli biotechnology company, has announced a $9 million investment from the Bill & Melinda Gates Foundation.

The commitment includes $5 million toward future equity investment in support of developing a first-of-its-kind platform for the design of small interfering RNAs (siRNAs) with ultra-long durability by utilizing combinatorial chemistry and artificial intelligence. The other $4 million will be used to advance Eleven’s development of prophylactics against endemic and pandemic-poised respiratory viruses. The foundation’s funding will help support the wide accessibility of Eleven’s treatments to people in need in developing countries. 

“I had a wonderful conversation with Bill Gates before receiving the investment and the grant. He is amazingly energetic,” Eleven co-founder and CEO Yaniv Erlich, told Calcalist. “I presented him with what we wanted to do. He asked questions. He showed interest in the system. Not every investment comes directly to him, so for us it was very exciting.”

(Photo credit: Getty Images/Gorodenkoff)