GHIT FUND HISTORYWhere We Began
- Chart drawn on a paper napkin
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The idea for GHIT was conceived at a Japanese soba restaurant in Tokyo in the Fall of 2011.
The problem on the table was: How do we leverage Japan’s untapped technology, innovation, and insights to address infectious diseases affecting millions of people in the developing world?
A match funding model was the critical component of realizing the idea for GHIT.
The Government of Japan, the country's leading pharmaceutical companies, and international foundations established GHIT: an R&D fund to invest in Japanese innovation for global health product development.
The original idea was for a relatively small fund (several million USD) that would invest only in preclinical development of therapeutics.
However, the idea evolved based on key input from public and private stakeholders.
GHIT launched with USD 100 million for its first 5 years of operation to invest in product development from discovery through to licensure.
The concept driving the chart drawn on the paper napkin in a soba restaurant was officially realized when the GHIT Fund formally established in April 2013.