BILL GATES has given researchers in the region almost £7.4m to help develop better and cheaper treatments for malaria.

Scientists at the University Of York will use the money to develop new varieties of the plant sweet Annie, which produces the anti-malarial drug artemisinin.

Artemisinin, when used with other drugs, is the most effective treatment that exists for malaria, according to the World Health Organisation.

But yields of the drug are low and demand is growing.

The researchers hope to produce varieties of sweet Annie that produce five or ten times as much of the drug.

Project director Professor Dianna Bowles said: "This work could lead directly to making an effective cure for malaria cheaper and more accessible for people who need it most."

Project deputy director Prof Ian Graham said: "It is fantastic news. The potential is there to save millions of lives. It is a very sobering thought. We feel a huge responsibility in taking on this project."

The Gates Foundation award is one of the first major grants to be announced since the Microsoft boss revealed last week he was stepping down from the company to concentrate on charitable work. The project will use the Gates Foundation money to recruit up to 30 researchers and technicians.

Dr Regina Rabinovich, the Gates Foundation's director of infectious diseases, said: "This promising research complements other important initiatives working to meet the urgent need for inexpensive, effective malaria treatments. These treatments could help save millions of lives in Africa."