January 27, 2001
DAVOS, Switzerland, and SANTA CLARA, California, 27 January 2001—Yahoo! Inc. (Nasdaq:YHOO), a global Internet commerce, communications and media company, today pledged US$ 5 million to support the International AIDS Vaccine Initiative's (IAVI) effort to mobilize global support for the organization and accelerate the development and delivery of a preventive AIDS vaccine for the world. Yahoo! is the first major corporate sponsor to back IAVI.
Yahoo!'s three-year commitment to IAVI will be used to develop an integrated campaign to raise awareness and funds across the Yahoo! global network. It is the largest single grant Yahoo! has made to date to an individual organization.
"We are thrilled to have Yahoo! join IAVI as our first major corporate sponsor," said Seth Berkley, M.D., president and chief executive officer of IAVI, at the World Economic Forum in Davos. "While a vaccine is the best hope of ending this pandemic, it is clear that no single organization can achieve this goal alone. Yahoo!'s generous support will help us to create the broad-based global movement that is necessary to help overcome the scientific, political and economic challenges that lie ahead."
"Yahoo! is pleased to help the International AIDS Vaccine Initiative mobilize worldwide support for the development of an AIDS vaccine," said David Filo, co-founder of Yahoo!. He added "AIDS is a devastating global problem and we look forward to lending the power of our global network to help find a solution."
Dr. Berkley added, "We hope that other corporations will follow Yahoo's example and make a commitment to accelerate the development of an AIDS vaccine for the world."
AIDS, the world's number one cause of death among infectious diseases, killed 500,000 children and 2.5 million adults last year, according to the World Health Organization and UNAIDS. Despite existing prevention efforts, last year 600,000 children and 4.6 million adults became infected with HIV, the virus that causes AIDS. The pandemic is a global health catastrophe, and has reversed decades of social and economic progress in sub-Saharan Africa and is spreading rapidly in India, China and the former Soviet Union.
Recent scientific advances make it increasingly likely that a vaccine of at least limited efficacy will be ready within a decade. IAVI has one vaccine candidate already in human trials and is supporting three more vaccines that are heading toward human trials. The organization has also committed to sponsoring eight to 12 new vaccine candidates over the next five to seven years.
Yahoo! is a global Internet communications, commerce and media company that offers a comprehensive, branded network of services to more than 180 million individuals worldwide each month. As the first online navigational tool for the Web, www.yahoo.com is the leading guide in terms of traffic, advertising and household and business-user reach. Yahoo is the most recognized and valuable Internet brand globally. The company also provides online business services designed to enhance the Web presence of Yahoo!'s clients, including audio and video streaming, store hosting and management and Web site tools and services. The company's global Web network includes 24 world properties. Yahoo!, headquartered in Santa Clara, California, has offices in Europe, Latin America, Canada, The Asia Pacific region and the United States.
The International AIDS Vaccine Initiative is an international non-profit scientific organization founded in 1996 whose mission is to ensure the development of safe, effective, accessible, preventive HIV vaccines for use throughout the world. IAVI's work focuses on four areas: creating global demand for AIDS vaccines through advocacy and education, accelerating scientific progress, encouraging industrial involvement in AIDS vaccine development, and assuring global access to a vaccine once it is developed. IAVI is a collaborating center of UNAIDS. IAVI's major supporters include the Bill and Melinda Gates, Rockefeller, Sloan and Starr Foundations, the World Bank, and governments of the United Kingdom, the Netherlands, Canada, Ireland and the United States.
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