The Biomedical Advanced Research and Development Authority (BARDA) is innovating in terms of how it will invest in projects, creating a new public-private partnership known as BARDA Ventures, based on the 21st Century Cures Act and venture capital methods.
As a result, BARDA seeks proposals from existing nonprofit partners to manage a long term health security fund no later than Dec. 8, 2020. That fund will be used to guarantee support for breakthrough technologies and new means of preparedness and response to health security threats. This, the organization hopes, will help its ability to stimulate innovation and promote disruptive technologies to close gaps in pandemic response and other healthcare preparedness.
This is predicated on the idea that the investment community will be able to quickly identify potential technologies and bring them to market. The new effort will not replace existing investment efforts through things like the broad agency announcement or EZ-BAA but rather seek to address gaps in existing response efforts.
In extending its public-private partnerships to include the private investment industry, BARDA will be backed by the U.S. International Development Finance Corporation (DFC). DFC will provide subject matter expertise and advice for BARDA Ventures and possibly offer extra financing options to backed companies.