European public-private partnership in pharma launches $4.48 billion second phase

The European Federation of Pharmaceutical Industries and Associations (EFPIA) has announced the launch of IMI2, a continuation of the partnership between industry and public bodies to target some of the world’s greatest health needs.

IMI, a public-private partnership between the European Commission and EFPIA, had its first phase between 2008 and 2013 with a budget of 2 billion euros ($2.72 billion), but its second phase, IMI2, has an increased budget of 3.3 billion euros ($4.48 billion). The enterprise is the largest health care public-private partnership in Europe, and operates under the EU framework program Horizon 2020.

Roch Doliveux, chairman of the IMI board, said: “IMI is a smart investment. Not only does IMI support a thriving life sciences sector – a key driver of future prosperity for the EU – it also gives us the collaborative platform we need to harness the potential power of new science in medicines research. By bringing together industry and academia, IMI can help us tackle existing healthcare challenges and improve lives for the patients that we are all striving to help.”