Global Health Investment Fund Portfolio Addressing COVID-19 Pandemic

The rapid spread of COVID-19 across the globe has underscored the need for an equally rapid response, and above all else, sustainable and effective measures of detection, treatment, and prevention. Four GHIF portfolio companies–Atomo Diagnostics, AccessBio, GeneDrive and Univercells—have actively worked to address the COVID-19 pandemic through efficient diagnostics that help identify and track cases and the application of innovative technologies for vaccine development and manufacturing.

With GHIF’s support, Atomo Diagnostics has developed rapid home and point-of-care testing for a number of infectious diseases, including HIV and malaria. The Australian company’s AtomoRapidTM diagnostic test platforms incorporate a lancet, blood collection tube, blood transfer mechanism, and reading of the result into a single palm-sized device. By increasing self-testing capabilities and overall accuracy, GHIF’s investment in Atomo has saved and improved the lives of people across several developing countries–a trend that is expected to continue annually. Atomo has also taken a leadership position in addressing COVID-19. In April 2020, Atomo announced a partnership with French diagnostics company, NG Biotech, SAS, focused on supplying Atomo’s integrated blood test devices to NG Biotech to use for its CE Marked blood- based antibody rapid COVID-19 test. The easy-to-use COVID-19 self-test produces results in fifteen minutes, leading to better personal and community decision-making and greater peace of mind.

AccessBio, another GHIF portfolio company, joined the fight as well. One of the world’s largest producers of malaria test strips, the company received FDA emergency use approval for its antigen test strip for COVID-19–one that could possibly be integrated with other platforms. AccessBio has distributed tens of millions of tests to increase global availability and accessibility in hopes of increasing testing rates globally.

GeneDrive, a UK-based company, has developed and received CE Mark for its rapid PCR
test. GeneDrive has also partnered with Beckman Coulter, a multi-national diagnostic company, for distribution. The GeneDrive COV19-ID Kit detects the presence of COVID-19 via a nasal swab. It is designed to be easy to use, producing results in ten minutes. It is inclusive of all current variants of concern, including the Delta variant.

Univercells, which is based in Belgium, has manufacturing partnerships for two vaccines for the virus, with the goal of making at least 200 million doses per year. Univercells’ unique capabilities

are aimed at rapid facility construction and scalable manufacturing, enabling the delivery of large volumes of vaccines at sustainable and affordable prices.

Our mission is to continue to support our portfolio companies as they invest in and help develop and introduce essential global health products and innovations, which is exemplified by the recent efforts to address the pandemic. As others, we are concerned about the health and financial consequences of COVID-19, but we are proud to have supported companies that are on the front lines in developing diagnostics and vaccines to help prevent and treat it going forward.

Curt LaBelle, MD Managing Partner