The SAFE-T project is funded by the Innovative Medicines Initiative (IMI), a large-scale public-private partnership between the European Union and the pharmaceutical industry association EFPIA.

IMI aims to boost biopharmaceutical innovation in Europe and to speed up the development of better and safer medicines for patients. Through its unique and innovative funding scheme, IMI supports research projects in the areas of safety and efficacy, knowledge management and education and training.

In addition to the large biopharmaceutical companies, the participating research consortia include small- and medium-sized enterprises, patient organisations, academia and other research organisations, hospitals and public authorities.

The European Commission's Seventh Framework Programme will contrpx;ibute €1 billion to the IMI budget. That amount will be matched by in kind contributions worth at least another €1 billion euro from the pharmaceutical companies that are member of EFPIA, the European Federation of Pharmaceutical Industries and Associations.