The European Investment Bank (EIB) will provide financing of EUR 25 million to the Austrian biotech company Apeiron Biologics AG (Apeiron). The financing will support the development of new pharmaceutical products to treat cancer, particularly a rare type affecting children.
The transaction with Apeiron was made possible by the support of the “European Fund for Strategic Investments” (EFSI). EFSI is the central pillar of the “Investment Plan for Europe”, with which the EIB Group and the European Commission as strategic partners aim to boost the competitiveness of the European economy.
Andrew McDowell, Vice-President of the EIB and responsible for Austria, commented: “The EU bank’s investments, especially in SMEs at the cutting edge of R&D, are key to helping strengthen Europe’s competitiveness and fostering sustainable growth. Our transaction with Apeiron demonstrates such support. Apeiron is an innovative biotech company targeting areas of significant unmet medical need. Our loan, in particular through its long tenor and its favorable financing conditions, is a high added-value transaction, as it will enable Apeiron to significantly increase its R&D activities. This will create 5-10 highly qualified jobs and will increase Apeiron’s workforce by up to 25 percent.”
Hans Loibner, Chief Executive Officer of Apeiron, commented: “We are very pleased about the fact that the EIB has recognised Apeiron’s potential for further groundbreaking R&D. Our recent achievement of obtaining the EU marketing authorisation for our most advanced project in combination with access to additional funding through the EIB forms a very promising basis for our company’s future.”
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “I am delighted that the Investment Plan is contributing to groundbreaking research and development projects undertaken by Apeiron to develop new drug treatments. Today’s agreement is a perfect demonstration of the real, tangible benefits that the Commission’s commitment to promoting investment, research and innovation are producing.”