Qiu Yong, president of Tsinghua University (left), and Bill Gates, Co-chair of the Bill &Melinda Gates Foundation, witnessed the signing of the memorandum of understanding. [Photo provided to chinadaily.com.cn]

Tsinghua University and Bill & Melinda Gates Foundation (BMGF) signed a memorandum of understanding to co-establish the Global Health Drug Discovery Institute (GHDDI) in Beijing, at a meeting in Davos, Switzerland, on January 22.

The institute will be the first research and development center of its kind in China.

GHDDI in Beijing aims to create a transformative drug discovery and translational medicine institute for global health with advanced biomedical research and development capabilities.

The institute will tackle major diseases faced by many developing countries, including China. It will leverage China's significant talents and R&D capacities, promote international collaborations, and enhance early drug development by bridging global drug discovery innovations with translational developments.

Bill Gates, co-chair of the foundation, and Qiu Yong, president of Tsinghua, witnessed the signing of the MoU.