AMR Action Fund has appointed business services provider Vistra to provide its fund administration services as part of a wider effort to accelerate the global development of new antibiotics.
The AMR Action Fund, a global venture capital fund, is an initiative of the International Federation of Pharmaceutical Manufacturers & Associations, in collaboration with the World Health Organization, the European Investment Bank, and the Wellcome Trust.
Vistra will support the AMR Action Fund across its entire fund structure, its special purpose vehicle and its portfolio investments.
The AMR Action Fund aims to accelerate the development of new antibiotics by investing more than $1 billion in smaller biotech companies and providing industry expertise to support the clinical development of antibiotics.
Utilisation of Vistra’s fund administration services will enable the AMR Action Fund to focus on sourcing the investments across its US and Luxembourg funds.
Commenting on the partnership, Henry Skinner, CEO at AMR Action Fund, says: “AMR’s solutions and services have been instrumental in helping us build momentum quickly. We value partnering with those who share in our vision and who help create market conditions that enable sustainable investment in the antibiotic pipeline.”
Onno Bouwmeister, global head of private equity and real estate at Vistra, comments: “Combining our global fund administration expertise with our corporate and advisory services into one tailored solution was key to helping the AMR Action Fund to build their operations quickly across the world.
He adds: “We’re delighted that Vistra has been able to provide these essential services so that the AMR Action Fund can focus their efforts on what they do best – making the right investments to address an important health issue.”
