Dr. Henry Skinner, CEO of the AMR Action Fund, explains the true picture of the threat of AMR and how funds work to change the way society values antibiotics.
Antibiotic resistance (AMR) is evolving rapidly, and not only increases the global health threat, it can also be a major financial burden. This shows that it is more important than ever for organizations, governments and innovators around the world, and they are focusing their efforts and working together to eradicate threats.
Headquartered in the US, AMR Action Fund is the world’s largest venture capital fund dedicated to investing in antibiotic therapies. The fund is designed to support companies developing potentially life-saving antibiotics therapeutics, and was launched following conversations with International Drug Manufacturers and Associations, the World Health Organization, the European Investment Bank and the Welcome Trust.
The Innovation Platform spoke with Dr. Henry Skinner, CEO of AMR Action Fund, to learn more about the fund, companies, and the research it supports, and the current state of AMR around the world.
Could you please explain in detail what AMR Action Funds are and why such funds are so important?
AMR Action Fund is a mission-driven investment fund that focuses on companies developing urgently needed antibiotics. Over the past decades, antibiotic resistance has emerged as one of the biggest health challenges facing the world. AMR refers to the time when bacteria and other microorganisms evolve to become resistant to drugs, or antibiotics, that are dependent on the treatment of infectious diseases. Recent studies show that AMR currently contributes to 4.5 million deaths per year.
It is also surprising that due to the market challenges associated with antibiotics, there are very few new antibiotics under development, and few people are investing in this sector. The antibiotic market is so dysfunctional that in recent years, companies have been able to adopt antibiotics through clinical development and gain regulatory approval. The AMR Action Fund was established to invest in companies developing treatments for high-priority pathogens and to encourage policy changes to regain private investment in this field of life-saving medicine.
What is the main mission of Action Funds?
Our goal is to help enable the launch of two to four new antibiotics by 2030, and to broadly change how society cherishes antibiotics.
Antibiotics are not a big maker of money. In the current system, the value of a drug is determined by the amount sold. The model works well in other therapeutic areas, but is not antibiotics. Antibiotics bring in incredible value to society. It cures infections and allows for a wide range of modern medical procedures, including surgery, chemotherapy, and organ transplants, but patients usually only take it for a few days. While that’s good for public health, it limits the commercial potential of antibiotics and allows investors to flee to more economically rewarding areas. Policymakers are needed to act on this, encourage investors and pursue market-based solutions that reward successful development of innovative antibiotics.
Can you share some of the important achievements/breakthroughs that the fund has made?
We have invested in 10 companies so far, and have continued to grow our portfolio. The companies we invested in target many of the World Health Organization’s most prioritized bacteria, and one of our portfolio companies has antibiotics approved by the Food and Drug Administration to treat the urinary tract infections that millions of women suffer each year in the United States.
In addition to investments, we supported important research that helped us better understand the threat of AMR, including helping to set up cancer and the AMR consortium. The consortium has published two important studies in recent months, indicating that both inpatient and outpatient cancer patients are at a higher risk of developing antibiotic-resistant infections compared to patients who do not have cancer. It is very important that clinicians, patients, policy makers, and the public understand that AMR is rapidly eroding the foundations of modern medicine.
Most of us take antibiotics for granted. We often use them on a daily basis to heal the ears of young children and clear cases of throat throat, and often overlook the fact that antibiotics allow for a vast range of life-saving and life-improving procedures. Without effective antibiotics, surgery is less safe, chemotherapy is less safe, organ transplants and joint replacements are not feasible, and even common dental procedures are at increased risk.
Why is innovation so important to tackle the threat of AMR and, in general, infection control?
The bacteria are incredible. They have evolved for billions of years, and they continue to evolve no matter what we throw at them. In fact, when Alexander Fleming won the Nobel Prize for his discovery of penicillin, he warned that bacteria would evolve and would soon be able to resist it.
Unfortunately, the drugs we use today have not evolved much since Fleming’s time. The 50s, 60s, and 70s saw a surge in proper discoveries, followed by antibiotics R&D falling off the cliff. The emergence of resistant infections in recent decades has forced doctors to reach them in time and rely on very old antibiotics that can have troublesome side effects. Patients are worth better.
However, to promote innovation, we need to support and invest in scientists who have new mechanisms of action to kill bacteria and are developing antibiotics that target worse bacteria more accurately. It also requires better, faster, and more accurate diagnosis so that clinicians can take the appropriate medication for all patients.
What are the key factors needed to drive change and reduce threats when it comes to AMR? How can governments and regulators support this mission?
Policymakers around the world, particularly those in the G7 countries, have been talking about the issue of AMR for years, acknowledging the need for policies that encourage investment and reward innovation. Now is the time for them to take action and implement such policies.
In the UK, in particular, there have been some advances in this aspect, launching a new subscription model that pays for new antibiotics. That’s great and the UK deserves a lot of trust in its leadership in this field. The EU has also made progress by enacting incentives, and Italy is moving in the right direction. However, AMR is a global issue and other high-income countries, particularly the United States, need to enact policies that attract private investment and allow scientists to carry out the innovative research and development that the world needs.
reference
Antibacterial resistant collaborator. (2022). Global burden of bacterial antibacterial resistance in 2019: a systematic analysis. Lancet; 399 (10325): P629-655. doi: https://doi.org/10.1016/S0140-6736(21)02724-0
This article will also be featured in the 23rd edition of Quarterly Publication.
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