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Gates Foundation Invests Up to $140 Million in Intarcia for HIV

The Bill & Melinda Gates Foundation will invest as much as $140 million in closely held Intarcia Therapeutics Inc. to develop a device that could help prevent HIV infections.

The Gates Foundation will provide $50 million upfront for Intarcia to develop an anti-HIV therapy that uses its implanted device. The foundation may give up to $90 million more in grants depending on how the HIV program goes, the company said Thursday in a statement.