A new $500 million fund, known as Intercept, has been launched with the ambitious goal of eliminating the common cold and other respiratory infections. The initiative will focus on developing new treatments and advancing technologies designed to purify air.
The project aims to financially support the creation of medical interventions that protect against a range of respiratory illnesses. Additionally, Intercept plans to invest in technologies that can clean the air in shared spaces.
Developing new drugs is a costly endeavor. According to Samuel Scarpino, director of AI + life sciences at Northeastern University, early-stage clinical trials (Phase I and II) for a single drug can cost between $20 million and $30 million. Conducting Phase III trials, a later stage of development, incurs even higher expenses. The Intercept fund seeks to "de-risk" this process by providing the necessary capital.
Intercept is also exploring the deployment of existing technologies, such as air filtration and UV light disinfection systems. While the effectiveness of these methods in reducing airborne infections is well-documented, implementing them in public spaces like schools and buses presents logistical and financial challenges. To address this, Intercept is engaging corporate partners, including Warby Parker, Mastercard, and JP Morgan, who have expressed interest in piloting and providing feedback on these air purification systems in their workplaces. These companies are part of a "network of future buyers" for such technologies.