Bill Gates (Leon Neal/Pool via AP Images)

Bill and Melin­da Gates Foun­da­tion backs lit­tle-known biotech go­ing af­ter Pfiz­er, Mer­ck on pneu­mo­coc­cal vac­cine

The Bill and Gates Melin­da Foun­da­tion has raised big mon­ey over its life­time to sup­port med­i­cines for poor­er coun­tries, and it an­nounced its lat­est in­vest­ment on Wednes­day.

In­vent­prise, a biotech lo­cat­ed in the Seat­tle sub­urbs, has se­cured a promise of up to $90 mil­lion from the non­prof­it, aimed at boost­ing de­vel­op­ment of its pneu­mo­coc­cal con­ju­gate vac­cine can­di­date, the Gates Foun­da­tion said Wednes­day morn­ing. The foun­da­tion ex­pects the cash will cov­er Phase I and Phase II stud­ies for the vac­cine, dubbed IVT-25.

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