Lee's Pharmaceutical (00950) has announced it will receive financial support from the Gates Foundation for its synthetic surfactant project.

The short-term objective of the funded initiative is to successfully complete the research and development of the active pharmaceutical ingredient (API), the formulation, and the manufacturing process for the drug.

The ultimate goal is to introduce this life-saving medication at an affordable price to low- and middle-income countries, specifically to aid premature infants suffering from respiratory distress syndrome.

The board of directors believes the financial backing from the Gates Foundation aligns well with the company's strategic focus in pediatrics and rare diseases.

This support underscores the group's ongoing commitment to improving global access to healthcare and utilizing its innovative drug delivery platform to address critical unmet medical needs.