2024-11-12T13:32:22-06:00 2023-12-31 871353108 EISNER ADVISORY GROUP LLC 733 THIRD AVENUE NEW YORK NY 100172703 990 2023-01-01 981051444 GLOBAL HEALTH INVESTMENT CORPORATION GLOB 6467551981 500 FIFTH AVENUE 40TH FLOOR NEW YORK NY 10110 EVELYN YANATOS TREASURER AND SECRETARY 6467751981 2024-11-12 1 0 WILLIAM EPSTEIN P01307171 2129498700 2023 2024-10-15 13:58:12Z X LABEEB ABBOUD 500 FIFTH AVENUE SUITE 5120 NY NY 10010 204094277 0 X WWW.GHICFUNDS.ORG X 2012 DE THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR SOCIAL (CONTINUED SCHEDULE O) (CONTINUED FROM FORM 990, PAGE 1 PART I) WELFARE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE OF 1986, AS IT BE AMENDED, INCLUDING THE RELIEF OF THE POOR AND DISTRESSED OR OF THE UNDERPRIVILEGED; THE PROMOTION OF SOCIAL WELFARE AND THE LESSENING OF THE BURDENS OF GOVERNMENT. IN FURTHERANCE OF THESE PURPOSES, THE CORPORATION MAY SEEK WAYS TO PROVIDE AFFORDABLE FINANCING TO SUPPORT THE DEVELOPMENT OF THERAPEUTIC DRUGS & TREATMENTS, VACCINES, PREVENTATIVES, DIAGNOSTICS, AND OTHER TECHNOLOGIES, PRODUCTS OR SERVICES TO ADDRESS GLOBAL HEALTH CHALLENGES, INCLUDING WITHOUT LIMITATION, SUPPORTING THE DEVELOPMENT OF MEDICAL COUNTERMEASURES AND TECHNOLOGIES THAT CAN HELP ADDRESS THREATS TO GLOBAL HEALTH SECURITY, ALL TO PROMOTE THE SOCIAL WELFARE OF ALL POPULATIONS. 4 3 15 0 0 0 68766234 198507541 70556 50000 762001 5362261 0 174475 69598791 204094277 0 0 0 0 2512026 2828711 0 0 0 1575474 1524092 4087500 4352803 65511291 199741474 172792060 365650768 7506598 7244654 165285462 358406114 X THE MISSION OF THE GLOBAL HEALTH INVESTMENT CORPORATION IS TO CATALYZE THE DEVELOPMENT OF TECHNOLOGIES TO IMPROVE GLOBAL HEALTH AND HEALTH EQUITY, AND STRENGTHEN GLOBAL HEALTH SECURITY. THE ORGANIZATION SEEKS TO ADVANCE ITS MISSION BY (CONTINUED SCHEDULE O) 0 0 3482242 50000 THE CORPORATION ACHIEVED FINAL CLOSE OF THE GLOBAL HEALTH INVESTMENT FUND (GHIF) ON 19 DECEMBER 2013, WITH CAPITAL COMMITMENTS OF $108,365,000. THE CORPORATION SERVES AS GENERAL PARTNER/MANAGING MEMBER OF GHIF, AND THE CORPORATION ALSO PROVIDED A CAPITAL COMMITMENT TO GHIF ALONGSIDE THE OTHER LIMITED PARTNERS. GHIF'S CAPITAL WAS INVESTED INTO TWELVE PORTFOLIO INVESTMENTS DURING YEARS 2012-2018. THE CORPORATION MANAGED GHIF'S PORTFOLIO COMPANY INVESTMENTS, BOTH AS GENERAL PARTNER/MANAGING MEMBER AND SINCE DECEMBER 2023 THROUGH ITS AFFILIATE GHIC ADVISORS, LLC, WHICH PROVIDES INVESTMENT ADVISORY SERVICES TO GHIF, RESULTING IN REVENUE TO THE FUND AND DISTRIBUTIONS TO THE ORGANIZATION AND THE OTHER LIMITED PARTNERS OF THE FUND. (CONTINUED SCHEDULE O) (CONTINUED FROM PART III, 4A) IN 2019, THE CORPORATION MADE AN INVESTMENT AS LIMITED PARTNER IN THE ADJUVANT CAPITAL GLOBAL HEALTH INVESTMENT FUND DE, IN THE AMOUNT OF $22 MILLION.IN 2021, THE CORPORATION MADE AN INVESTMENT AS LIMITED PARTNER IN THE WOMEN'S AND CHILDREN'S HEALTH TECHNOLOGY FUND, IN THE AMOUNT OF $10 MILLION. THE CORPORATION ENTERED INTO A TEN-YEAR AGREEMENT WITH U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES OFFICE OF THE ASSISTANT SECRETARY FOR PREPAREDNESS AND RESPONSE'S BIOMEDICAL ADVANCED RESEARCH AND DEVELOPMENT AUTHORITY ("BARDA") TO CARRY OUT ACTIVITIES THAT FOSTER AND ACCELERATE THE DEVELOPMENT AND INNOVATION OF MEDICAL COUNTERMEASURES. THE AGREEMENT, UNLIKE TYPICAL FEE FOR SERVICE OR COST REIMBURSEMENT PROCUREMENT GRANTS, WAS STRUCTURED AS AN OTHER TRANSACTION AGREEMENT ("OTA") UNDER WHICH BARDA MAY ENTER INTO TRANSACTIONS THAT ARE NOT SUBJECT TO FEDERAL ACQUISITION REGULATION. DURING 2021, THE CORPORATION RECEIVED $16.6 MILLION IN FUNDING FROM BARDA UNDER THE OTA, FOR ACTIVITIES TO BE CONDUCTED BY THE ORGANIZATION PURSUANT TO THE OTA. THE CORPORATION ESTABLISHED A WHOLLY OWNED DELAWARE LIMITED LIABILITY COMPANY, THE GHIC GLOBAL HEALTH SECURITY PORTFOLIO, LLC (THE "GHS PORTFOLIO LLC"), TO MAKE VENTURE INVESTMENTS IN BIOTECHNOLOGY COMPANIES AND OTHER ORGANIZATIONS DEVELOPING TECHNOLOGIES THAT FALL WITHIN THE MISSION SCOPE OF THE OTA ACTIVITIES. IN 2021, THE CORPORATION MADE ITS INITIAL INVESTMENT WITH BARDA FUNDING, THROUGH THE GHS PORTFOLIO LLC, IN THE PRIVATE EQUITY SECURITIES OF BIOLINQ. THE INTENT UNDER THE OTA WAS THAT THE INVESTMENTS MADE BY AND WAREHOUSED IN THE GHS PORTFOLIO LLC WOULD EVENTUALLY BE CONTRIBUTED, ALONG WITH ADDITIONAL MONEYS FROM BARDA, TO AN INVESTMENT FUND SPONSORED BY THE CORPORATION.IN 2022, THE CORPORATION RECEIVED AN ADDITIONAL $68.8 MILLION IN FUNDING FROM BARDA PURSUANT TO THE OTA. THE CORPORATION ALSO ENTERED INTO A STRATEGIC COLLABORATION ARRANGEMENT WITH THE MITRE CORPORATION, PURSUANT TO WHICH MITRE AGREED TO PROVIDE THE CORPORATION WITH UP TO $10 MILLION TO BE CO-INVESTED BY THE CORPORATION, ALONGSIDE BARDA-PROVIDED FUNDING, IN VENTURE INVESTMENTS MADE BY THE CORPORATION PURSUANT TO THE OTA. DURING THE COURSE OF 2022, THE CORPORATION (THROUGH THE GHS PORTFOLIO LLC) MADE INVESTMENTS IN TEN ADDITIONAL BIOTECHNOLOGY COMPANIES WITH BARDA- AND MITRE-PROVIDED CAPITAL. AS OF DECEMBER 31, 2022, THE TOTAL AMOUNT INVESTED BY THE GHS PORTFOLIO LLC IN THE ELEVEN PORTFOLIO COMPANIES WAS $39 MILLION.IN 2023, THE CORPORATION RECEIVED AN ADDITIONAL $164.6 MILLION IN FUNDING FROM BARDA PURSUANT TO THE OTA FOR VENTURE INVESTMENT ACTIVITIES, BRING ITS TOTAL BARDA FUNDING FOR SUCH ACTIVITIES TO $250 MILLION. THE CORPORATION ALSO ENTERED INTO A MEMORANDUM OF UNDERSTANDING WITH THE COALITION OF EPIDEMIC PREPAREDNESS INNOVATIONS (CEPI), UNDER WHICH THE CORPORATION AND CEPI EXPLORED POTENTIAL AREAS OF COLLABORATION, INCLUDING WITH RESPECT TO INVESTMENTS IN PRIVATE COMPANIES THAT ADVANCE VACCINE AND MEDICAL COUNTERMEASURE TECHNOLOGIES FOR THE BENEFIT OF GLOBAL HEALTH AND CEPI'S POTENTIAL PARTICIPATION IN AN INVESTMENT FUND SPONSORED BY THE CORPORATION. DURING 2023, THE CORPORATION (THROUGH THE GHS PORTFOLIO LLC) MADE INVESTMENTS IN ADDITIONAL BIOTECHNOLOGY COMPANIES, AS WELL AS FOLLOW-ON INVESTMENTS IN EXISTING PORTFOLIO COMPANIES, WITH BARDA- AND MITRE-PROVIDED CAPITAL. AS OF DECEMBER 31, 2023, THE TOTAL AMOUNT INVESTED BY THE GHS PORTFOLIO LLC IN THIRTEEN PORTFOLIO COMPANIES WAS $51 MILLION.IN 2023, THE CORPORATION AND BARDA ALSO AGREED TO MODIFY THE OTA TO INCLUDE, IN ADDITION TO ONGOING VENTURE INVESTMENT ACTIVITIES, THE ESTABLISHMENT AND OPERATION BY THE CORPORATION OF A "HEALTH SECURITY INNOVATION ALLIANCE" TO IDENTIFY, FUND, AND ACCELERATE HIGH-POTENTIAL TRANSLATIONAL RESEARCH THROUGH NON-DILUTIVE FUNDING AND ACADEMIC COLLABORATIONS. BARDA PROVIDED $20 MILLION TO THE CORPORATION UNDER THE OTA TO SUPPORT THESE NEW ACTIVITIES.IN DECEMBER 2023, THE CORPORATION ALSO ENTERED A GRANT AGREEMENT WITH KFW, THE GERMAN GOVERNMENT-AFFILIATED DEVELOPMENT BANK, UNDER WHICH KFW PROVIDED 30.5 MILLION TO FUND, AND THE CORPORATION AGREED TO STRUCTURE, HOST, AND IMPLEMENT, A NEW CATALYTIC HEALTH INVESTMENT PLATFORM (CHIP). THE CORPORATION AND KFW INTENDED CHIP TO HELP CLOSE THE FUNDING GAP REGARDING THE DEVELOPMENT OF AND ACCESSIBILITY TO INNOVATIVE HEALTHCARE AND LIFE SCIENCE PRODUCTS AND TECHNOLOGIES FOR POPULATIONS IN LOW- AND MIDDLE-INCOME COUNTRIES BY MAKING (I) INVESTMENTS IN ELIGIBLE INVESTMENT FUNDS, (II) DIRECT INVESTMENTS IN ELIGIBLE COMPANIES, AND (III) GRANTS TO ELIGIBLE INSTITUTIONS IN THE GLOBAL HEALTH ECOSYSTEM. 3482242 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 X 17 0 15 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X EVELYN YANATOS 5164486106 500 FIFTH AVENUE 40TH FLOOR NEW YORK NY 10110 LABEEB M ABBOUD CHAIRMAN AND CEO 40.00 0.00 X X 793636 0 106972 ARLINA ELMIGER DIRECTOR 1.00 0.00 X 0 0 0 PAUL KLINGENSTEIN DIRECTOR 1.00 0.00 X 28000 0 0 GEORGE W WELLDE JR DIRECTOR 1.00 0.00 X 40000 0 0 EVELYN YANATOS TREASURER AND SECRETARY 10.00 0.00 X 0 0 0 OLAYINKA FAGBAYI VICE PRESIDENT 40.00 0.00 X 353362 0 58238 JOSEPH LEE PRINCIPAL 40.00 0.00 X 231029 0 38671 CHARLES JEFFREY PETTY MANAGING DIRECTOR 40.00 0.00 X 487312 0 83618 DAMIEN ZADOUR SOGHOIAN VENTURE PARTNER 40.00 0.00 X 268765 0 33629 TRACY SAXTON VENTURE PARTNER 40.00 0.00 X 117562 0 7926 2319666 0 329054 6 0 1 0 FOLEY AND LARDNER LLP 555 SOUTH FLOWER STREET STE 3300 LOS ANGELES CA 90071 LEGAL 502356 EBY ENTERPRISES 315 EAST 70TH STREET 12M NEW YORK NY 10021 OUTSOURCE ACCOUNTING AND CONSULTING 116000 2 198507541 198507541 MANAGEMENT FEE 900099 50000 50000 50000 5362261 5362261 REIMBURSEMENT 900099 174475 174475 174475 204094277 50000 0 5536736 X 968608 774886 193722 1506926 1205542 301384 128967 103173 25794 115202 92162 23040 109008 87206 21802 115495 92396 23099 267118 213694 53424 646904 517524 129380 145074 116059 29015 71030 56824 14206 110821 88657 22164 115162 92129 23033 51141 40913 10228 UTILITIES 1347 1077 270 4352803 3482242 870561 0 93666966 280386887 75568 42922 77629758 84507975 1419768 712984 172792060 365650768 826997 565053 6679601 6679601 7506598 7244654 X 45671544 38268412 119613918 320137702 165285462 358406114 172792060 365650768 199741474 -6620822 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 GLOBAL HEALTH INVESTMENT FUND 18853186 F ADJUVANT GLOBAL HEALTH TECHNOLOGY 14440150 F BIOLINQ INCORPORATED 5783547 F MICRON BIOMEDICAL INC 7248892 F ENDPOINT HEALTH INC 2704922 F MONOD BIO INC 5385853 F UNIVERCELLS SA 6100804 F VACCINE COMPANY INC 5842724 F THE PUBLIC HEALTH COMPANY GROUP INC 1017542 F NATIONAL RESILIENCE INC 717949 F VAXESS TECHNOLOGIES INC 2289602 F CENTIVAX, INC 5517207 F BUGSEQ BIOINFORMATICS INC 512248 F WOMEN'S AND CHILDREN'S HEALTH TECHNOLOGY EU FUND SCSP 1417975 F CYTOVALE 5110814 F JUMPCODE GENOMICS 1564560 F 84507975 DUE TO INVESTOR 6679601 6679601 X 197473455 -6620822 -6620822 204094277 0 204094277 4352803 0 4352803 0 4352803 PART X, LINE 2: THE CORPORATION IS SUBJECT TO THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD'S (THE "FASB") ACCOUNTING STANDARD CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, AS IT RELATES TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME-TAX OBLIGATIONS. FOR THE CORPORATION, THESE PROVISIONS COULD BE APPLICABLE TO THE INCURRENCE OF UNRELATED BUSINESS INCOME. BECAUSE OF THE CORPORATION'S GENERAL TAX EXEMPT STATUS, MANAGEMENT BELIEVES ASC TOPIC 740 HAS NOT HAD, AND IS NOT ANTICIPATED TO HAVE, A MATERIAL IMPACT ON THE CORPORATION'S CONSOLIDATED FINANCIAL STATEMENTS. X X X X X 0 1 0 0 0 0 0 1 0 LABEEB M ABBOUD CHAIRMAN AND CEO 541350 0 250000 0 2286 0 53874 0 53098 0 900608 0 0 0 CHARLES JEFFREY PETTY MANAGING DIRECTOR 387150 0 100000 0 162 0 38758 0 44860 0 570930 0 0 0 OLAYINKA FAGBAYI VICE PRESIDENT 293400 0 55000 0 4962 0 29383 0 28855 0 411600 0 0 0 DAMIEN ZADOUR SOGHOIAN VENTURE PARTNER 168697 0 100000 0 68 0 25722 0 7907 0 302394 0 0 0 JOSEPH LEE PRINCIPAL 215885 0 15000 0 144 0 21507 0 17164 0 269700 0 0 0 PART I, LINE 3 COMPENSATION FOR THE ORGANIZATION'S CEO HAS BEEN DETERMINED USING INDEPENDENT COMPENSATION CONSULTANTS, REVIEW OF FORMS 990 FROM COMPARABLE ORGANIZATIONS, VERIFIED AGAINST INDUSTRY COMPENSATION SURVEYS AND APPROVED BY THE BOARD THROUGH A WRITTEN EMPLOYMENT CONTRACT. THE PRECEDING MAY BE DONE FROM TIME TO TIME AS NEEDED. PART I, LINE 4B THERE IS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN FOR CERTAIN OFFICERS OF THE ORGANIZATION. PART I, LINE 7 LONG-TERM COMPENSATION PROGRAM: THE ORGANIZATION RECOGNIZES THE INVALUABLE CONTRIBUTION OF ITS CURRENT SENIOR MANAGEMENT TEAM TO ITS ACHIEVEMENTS THUS FAR. IN ORDER TO ENSURE THE RETENTION OF THIS TALENTED TEAM AND TO FOSTER THE ATTRACTION AND DEVELOPMENT OF FUTURE LEADERS, THE ORGANIZATION HAS IMPLEMENTED A COMPREHENSIVE COMPENSATION PROGRAM. THIS PROGRAM IS METICULOUSLY CRAFTED TO: (I) ALIGN REMUNERATION WITH PERFORMANCE METRICS TIED TO THE ORGANIZATION'S STRATEGIC PLAN AND OVERARCHING OBJECTIVES. (II) OFFER A COMPETITIVE COMPENSATION PACKAGE, COMPRISING BASE PAY, BONUSES, AND LONG-TERM INCENTIVES, COMMENSURATE WITH ORGANIZATIONS OF SIMILAR PROFILE. AS SUCH, THE ORGANIZATION'S COMPENSATION FRAMEWORK IS STRUCTURED TO (I) DRIVE AND INCENTIVIZE PRESENT HIGH-PERFORMANCE STANDARDS, (II) ACKNOWLEDGE AND REWARD THE EXPERTISE AND TENURE OF OUR TEAM MEMBERS, AND (III) PROVIDE LONG-TERM INCENTIVES AIMED AT RETAINING KEY MANAGEMENT PERSONNEL. FORM 990, PART I, LINE 5, & PART V, LINE 2A AND B THE ORGANIZATION USES A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR THE FILING OF FORM W-2. AS SUCH, THE ORGANIZATION ITSELF DOES NOT ISSUE ANY FORMS W-2 USING ITS EIN. THE ORGANIZATION DOES, HOWEVER, HAVE 8 EMPLOYEES WHO RECEIVE W-2'S THROUGH THE PEO PAYMASTER. THE ORGANIZATION ENSURES THAT THE PEO FILES ALL REQUIRED FEDERAL EMPLOYMENT TAX RETURNS. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS THREE DIRECTOR MEMBERS WITH EQUAL VOTING RIGHTS. THEY HAVE THE POWER TO ELECT OR APPOINT OTHER DIRECTOR MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS THREE DIRECTOR MEMBERS WITH EQUAL VOTING RIGHTS. THEY HAVE THE POWER TO ELECT OR APPOINT OTHER DIRECTOR MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THIS FORM WAS REVIEWED AND APPROVED BY THE ORGANIZATION'S BOARD OF DIRECTOR'S AUDIT COMMITTEE, WHICH PERFORMS THIS FUNCTION ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THESE DETAILS ARE DISCUSSED AT PERIODIC BOARD AND OTHER MEETINGS THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE ORGANIZATION'S CEO HAS BEEN DETERMINED USING INDEPENDENT COMPENSATION CONSULTANTS, REVIEW OF FORMS 990 FROM COMPARABLE ORGANIZATIONS, VERIFIED AGAINST INDUSTRY COMPENSATION SURVEYS AND APPROVED BY THE INDEPENDENT COMPENSATION COMMITTEE OF THE BOARD THROUGH A WRITTEN EMPLOYMENT CONTRACT. THE PRECEDING MAY BE DONE FROM TIME TO TIME AS NEEDED. COMPENSATION FOR THE ORGANIZATION'S MANAGING DIRECTOR LEVELS AND INDEPENDENT BOARD MEMBERS HAS BEEN DETERMINED USING INDEPENDENT COMPENSATION CONSULTANTS, REVIEW OF FORMS 990 FROM COMPARABLE ORGANIZATIONS, VERIFIED AGAINST INDUSTRY COMPENSATION SURVEYS AND APPROVED BY THE INDEPENDENT COMPENSATION COMMITTEE OF THE BOARD. THE PRECEDING MAY BE DONE FROM TIME TO TIME AS NEEDED. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO OUR MEMBERS AND THE PUBLIC AT LARGE. FORM 990, PART IX, LINE 11G OTHER CONSULTING: PROGRAM SERVICE EXPENSES 517,524. MANAGEMENT AND GENERAL EXPENSES 129,380. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 646,904. GHIC GLOBAL HEALTH SECURITY PORTFOLIO LLC 500 FIFTH AVENUE 40TH FLOOR NY NY 10010 882361986 SEE SCHED R SUP INFO DE 0 49796664 GLOBAL HEALTH INVESTMENT CORPORATION GLOBAL HEALTH INVESTMENT FUND 500 FIFTH AVENUE 40TH FLOOR NY NY 10010 981051448 INVESTMENT FUND FOR GLOBAL HEALTH RESEARCH DE GLOBAL HEALTH INVESTMENT CORPORATION STATUTORILY EXEMPT 18853186 0 1 0.12240 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 GHIC GLOBAL HEALTH SECURITY PORTFOLIO LLC B 0 FV GLOBAL HEALTH INVESTMENT FUND C 0 FV ADJUVANT GLOBAL HEALTH TECHNOLOGY FUND DE LP 501 5TH AVE SUITE 1404 NY NY 10017 832182505 INVESTMENT FUND FOR GLOBAL HEALTH RESEARCH DE STATUTORILY EXEMPT 0 0 14440150 0 0 0.46220 WOMEN'S AND CHILDREN'S HEALTH TECHNOLOGY EU FUND SCSP 501 5TH AVE SUITE 1404 NY NY 10017 INVESTMENT FUND FOR GLOBAL HEALTH RESEARCH DE STATUTORILY EXEMPT 0 0 1417975 0 0 0.14850 SCHEDULE R, PART 1, COLUMN B - PRIMARY ACTIVITY A LIMITED LIABILITY CORPORATION ESTABLISHED AS THE VEHICLE THROUGH WHICH GHIC WOULD MAKE INVESTMENTS IN A PORTFOLIO OF BIOTECHNOLOGY COMPANIES TO SUPPORT GLOBAL HEALTH RESEARCH AND DEVELOPMENT, IN ADVANCE OF THE ESTABLISHMENT OF THE GLOBAL HEALTH SECURITY INVESTMENT FUND THAT WAS PLANNED TO BE LAUNCHED IN 2024.