The Rockefeller Foundation announced a new $30 million Advance Market Commitment (AMC) to scale up pandemic testing needs and safely reopen schools, communities, and the economy. The investment serves as a financial guarantee that enables Thermo Fisher Scientific to procure and strategically stock up to $30 million in Covid-19 tests at a time.
The first AMC order of 300,000 COVID-19 tests, costing $9 million, has already been purchased and sold to states through the facility.
"Just like we need breakthroughs in the lab, we need breakthroughs in the marketplace to get tests to the frontlines quicker, cheaper, and more efficiently than ever before," said Dr. Rajiv J. Shah, President of The Rockefeller Foundation, in a press release issued on January 14, 2021. "This innovative collaboration will change business as usual, avoid detrimental competition between states, and help us deploy rapid tests straight to schools, nursing homes, and workplaces to stop outbreaks before they spread."