€117 million granted for treatments and diagnostics through the Innovative Medicines Initiative
On 12 May 2020, the Commission announced that 8 large-scale research projects, aimed at developing treatments and diagnostics for the coronavirus, were selected in a fast-track call for proposals, launched in March by the Innovative Medicines Initiative (IMI). In order to fund a larger number of high-quality proposals, the Commission increased its commitment from the originally planned €45 million to €72 million from Horizon 2020. €45 million will be provided by the pharmaceutical industry, IMI associated partners and other organisations involved with the projects, bringing the total investment to €117 million.
Out of the 8 projects funded under the IMI call, 5 are focusing on diagnostics and 3 on treatments. The ones that will be working on diagnostic tools intend to develop devices that can be used anywhere, such as in the doctor's surgery or in a patient's own home, and can deliver fast results in 14-40 minutes. The other projects, which will focus on the development of treatments, will primarily work on the current coronavirus outbreak, while they will make substantial efforts to prepare for future outbreaks.
In total, these projects comprise 94 organisations, such as universities, research organisations, companies, and public organisations. There is also strong involvement of small and medium-sized enterprises (SMEs), which make up over 20% of the participants and will receive 17% of the budget.
The projects selected are part of the common European response to the coronavirus outbreak that the Commission has been coordinating since the beginning of the crisis.TOP