Brussels, 18/03/2014 (Agence Europe) - On Tuesday 18 March, the MEPs of the industry committee of the EP adopted, by a large majority, the report by Teresa Riera Madurell (S&D, Spain) on the second innovative medicines initiative (IMI2). The aim of this text is to improve the process of developing medicines and new treatments by supporting cooperation in research and development. With a budget of €3 billion, the second initiative, which will cover the period 2014-2024, will focus in particular on speeding up the development of treatments which will make a contribution to the health and welfare of all throughout all stages of life, against the backdrop of an ageing population and with increasing incidences of chronic and degenerative diseases. IMI2 is also designed to help fight the emergence and potential resurgence of infectious diseases (including the increase in resistance to antibiotics). The first IMI initiative from 2007-2013, which had a budget of €2 billion, half of which came from the European Commission and the other half from the pharmaceutical industry, funded 40 projects and helped to develop new treatments for patients whilst creating nearly 1500 jobs. The plenary vote will take place in April. (IL)