Global Good and AUCMA Partner to Commercialize Vaccine Storage Invention for Developing Countries Commercialization deal is the first for Intellectual Ventures' humanitarian effort with Bill Gates
BELLEVUE, Wash. and QINGDAO, China, July 9, 2013 /PRNewswire/ -- Global Good and leading refrigeration company AUCMA (600336.SH) announced today an agreement to commercialize Global Good's vaccine storage invention for use in developing countries. Under the agreement, AUCMA will manufacture and distribute the device to help strengthen the vaccine supply chain in underserved regions. The agreement marks the first commercialization deal for Global Good, which is a collaboration between Intellectual Ventures (IV) and Bill Gates to invent technology that improves life in developing countries.
The World Health Organization estimates that more than 1 million children die each year from vaccine-preventable diseases. This is due in part because many regions lack the electricity and infrastructure needed to store temperature-sensitive vaccines. Global Good's vaccine storage device overcomes this by using a combination of super-insulation techniques to hold vaccines at the appropriate temperature for more than a month with no external power. Originally unveiled by IV CEO Nathan Myhrvold at TED 2010, the device was developed at IV Lab and recently completed field trials in Senegal.
"Forward-looking commercial partners like AUCMA play a vital role in Global Good's mission to improve life in developing countries through the power of invention," said Maurizio Vecchione, vice president of Global Good at Intellectual Ventures. "AUCMA has the expertise and scalability needed to help this device extend the vaccine supply chain in even the remotest parts of the world, and do so at the lowest cost-per-fully-immunized-child possible. Thanks to them, Global Good's vaccine storage device will make a tangible impact on the lives of people in developing countries."
"Global Good is a natural partner for AUCMA. Their revolutionary vaccine storage device fits perfectly with our expertise in medical cold chain equipment and their emphasis on catalyzing markets for social good aligns with AUCMA's own belief in social responsibility," said Li Wei, AUCMA chairman. "We look forward to a long, productive relationship that sparks a new level of innovation for the vaccine supply chain in developing countries."
In addition to commercialization of the vaccine storage device, Global Good and AUCMA will explore new inventions to improve the vaccine supply chain. Global Good draws on the expertise of NGOs, governments and commercial partners like AUCMA throughout the invention and product development process. This ensures that Global Good invents technology that not only addresses unique challenges in developing countries, but also has the commercial viability needed to catalyze markets for sustainable impact.
The vaccine storage device will undergo additional field testing in Africa before broader manufacturing and distribution in 2014. With only a single batch of ice, it can store up to 300 doses of vaccines, enough to serve a community of 6,000 for more than a month. The device is also equipped with technology to monitor its location, internal temperature and the number of times vaccines have been retrieved from it. This information can be communicated via daily SMS transmissions and downloaded via a USB port to inform future vaccination campaign planning.
About Global Good
Global Good is a collaboration between Intellectual Ventures and Bill Gates to invent technology that improves life in developing countries. With support from a coalition of NGO, government and business partners, we conceive, develop and deploy inventions for the poorest parts of the world. Learn more at www.globalgood.com.
AUCMA Company Limited (600336:SH) is a leading manufacturer and supplier of refrigeration and cold chain equipment. Established in 1987, the company is based in Qingdao, China, and employs more than 7,000 people. Learn more at www. aucma.com.cn.
SOURCE Intellectual Ventures