Bill Gates announced Friday that he will donate $12 million to fund research for a universal flu vaccine.

Axar.az informs, the Hill reports.

Gates announced the creation of a research fund while speaking at the Massachusetts Medical Society's annual meeting.

“Today we are launching a $12 million Grand Challenge in partnership with the Page family to accelerate the development of a universal flu vaccine,” he said in his remarks. “The goal is to encourage bold thinking by the world’s best scientists across disciplines, including those new to the field.”

He warned in his speech of an impending pandemic, saying that the world has not made much progress in preparation, particularly in impoverished countries.