Investment in microbicide R&D totaled US$140 million in 2018, a 12 percent (US$19 million) decrease from 2017 funding levels. This is the sixth consecutive year of declining microbicide funding and the lowest investment levels recorded since 2003. The majority of funding originated from the public sector (98 percent), while philanthropic and commercial funding trailed at 1.3 percent and 0.6 percent, respectively. Public and philanthropic sector funding decreased by 11 and 57.8 percent, with a US$0.6 million increase in private funding.
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