New Gates fund seeks better cures for world's ills
Reuters | at | by Mike
Saying that medical science has solved the "easy" problems of the rich world, Microsoft founder Bill Gates on Sunday announced a $200 million fund aimed at luring researchers into finding original cures for the poor world's ailments. The $200 million grant from the Bill & Melinda Gates Foundation will be used to set up the "Grand Challenges in Global Health initiative" which will dole out money in grants of up to $20 million each to scientists around the world. "By accelerating research to overcome scientific obstacles in AIDS, malaria, and other diseases, millions of lives could be saved," Gates told reporters in a telephone interview.