The Gates Foundation rolls outs details of its new biotech, one without a profit motive
The Bill and Melinda Gates Foundation is building a biotech nonprofit, focusing on diseases that disproportionately affect the poor.
There’s a new biotech in town. And it doesn’t care about making money.
The Bill and Melinda Gates Foundation has spun out a nonprofit biotech offspring, the Bill and Melinda Gates Medical Research Institute. With funding of $273 million for its first four years, the organization is in an enviable position.
“We don’t have to worry about revenue, return on investment. Our bottom line is lives saved. So it’s a pretty exciting place to be,” Dr. Penny
