EU money for Polish biosimilar research
Polish drug maker Polpharma has received a €45m loan from the European Investment Bank to further its biosimilar research. The operation is part of InnovFin, a new programme set up to support innovative research.
The largest manufacturer of medicines in Poland is the first Polish benefactor of the EU programme InnovFin. The programme “InnovFin – EU Finance for Innovators”, newly launched by the European Commission and European Investment Bank Group (EIB and EIF) and backed by Horizon 2020, offers “a new generation of financial instruments and advisory services to help innovative firms access finance more easily.” In total, more than €24bn of financial support will be made available over the next seven years.
Polpharma is set to receive a €45m loan to increase access to modern biological drugs and also to address unmet medical needs in the area of severe and life-threatening diseases such as cancer, Crohn’s disease, multiple sclerosis and rheumatoid arthritis. With its Gdansk Science and Technology Park – reportedly the most modern laboratory in Poland to develop biological drugs – Polpharm was a perfect match for the EIB. László Baranyay, EIB Vice-President responsible for lending in Poland, was full of praise for its loanee: “Polpharma is a role model for our support for fast growing, innovative and expanding companies in Poland. Projects such as this strengthen the competitiveness and boost the innovative capacity of European health-related industries and businesses.”
Jan Faryaszewski, Vice-President of Polpharma Pharmaceutical Works, added: “Development in biotechnology requires huge investment and the building of long-term partnerships. Polpharma’s business goals are in line with the EIB’s strategy of supporting innovative projects over the long term. As a Polish innovation leader, we are happy to collaborate with such an important and solid partner. We believe that our partnership will contribute to faster development of biological drugs that are important for patients.”