A new partnership between the U.S. and UK has launched, with the University of Oxford and Harrington Discovery Institute at University Hospitals in Cleveland, Ohio announcing a joint initiative to identify, fund and develop innovative rare disease treatments.

The international effort, named the Oxford-Harrington Rare Disease Centre Therapeutics Accelerator, has set a goal of bringing 40 new rare disease therapies into clinical trials over the next decade and will seek approvals from regulators including the FDA, the European Commission and the UK’s MHRA.

Through a dual non-profit/for-profit model, the initiative will aim to invest up to approximately $243.2 million (£200 million) in new projects, with funding going toward research, drug development, commercial strategy and business development.

The Accelerator will be led by former UK prime minister David Cameron, who serves as chair of the Centre’s advisory board.

Learn more here.