The Initiative

Moxidectin is currently sold as a treatment for parasitic worm and mite infections in animals. The World Health Organization (WHO) co-sponsored the development of moxidectin for human use with Wyeth/Pfizer and they have completed clinical trials showing that moxidectin is an important new drug for treating river blindness. River blindness is a ‘neglected tropical disease’ (NTD) found principally in sub-Saharan Africa that causes severe skin reactions and can lead to blindness. Australian social enterprise Medicines Development for Global Health secured the rights for moxidectin from WHO. The United States Food and Drug Administration (FDA) has instituted a novel reward scheme for registration of new treatments for designated NTDs in the form of a ‘priority review voucher’ (PRV). The PRV entitles its holder to obtain a priority review for human drug applications submitted to the FDA, reducing the review time by approximately 4 months, and can be traded or sold. In May 2015, the most recently sold PRV was valued at US$245 million. Preparing the submission for registration of a new drug is a detailed and highly rigorous process. Medicines Development for Global Health commenced this process for moxidectin following an investment from the Global Health Investment Fund (GHIF).

The Investment

The GHIF is designed to provide financing to advance the development of drugs, vaccines, diagnostics and other interventions against diseases that disproportionally burden low-income countries. It is a social impact investment fund which includes an impressive roster of Sponsors, Investors and Philanthropic Funders, consisting of: Bill & Melinda Gates Foundation, Swedish International Development Corporation Agency, JP Morgan Chase & Co, Grand Challenges Canada, the German Ministry for Economic Cooperation and Development through KFW, AXA Investment Management, Storebrand, International Finance Corporation, GlaxoSmithKline, the Pfizer Foundation, Merck & Co., Children’s Investment Fund Foundation.

The Impact

GHIF’s investment in Medicines Development for Global Health makes possible the final step towards moxidectin’s registration as a treatment for river blindness in humans. If registered, the social impact of making moxidectin available to afflicted communities will be significant – 37 million people currently live with the disease with over 100 million currently at risk of infection. The disease is debilitating and has a devastating socio-economic impact on affected communities. It will also make possible further research and applications of moxidectin to four other neglected diseases (scabies, lymphatic filariasis, strongyloides and soil-transmitted helminths), affecting approximately 2 billion people globally. Download the full report here.