Juncker Plan: Investment Plan finances innovative medical research with a €75 million loan to Evotec
The Investment Plan for Europe continues to support innovative projects in the health sector. The European Investment Bank (EIB) is providing €75 million to Evotec to invest in research and development of treatments for serious illnesses. The loan is guaranteed by the European Fund for Strategic Investments (EFSI), the central element of the Investment Plan for Europe, the so-called Juncker Plan. Evotec will use this long-term financing boost to finance drug discovery and the development of new treatments for serious illnesses and diseases. The type of financing is also novel: it is the first large equity-type investment under EFSI in any industry anywhere in Europe. It also EFSI’s first contingent investment, meaning the bank shares the risk of Evotec’s research & development (R&D) success. Speaking at the signing event, Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “The development of innovative treatments is a process which requires sustained investment. This is where the Investment Plan can play a role. I am glad that, with today’s agreement, the Plan is supporting research which aims to tackle serious illnesses and diseases.” This agreement with Evotec comes days after agreements were finalised with MagForce to develop new treatments for brain cancer as well as Apeiron which also develops cancer treatment, particularly a rare type affecting children. Also today the European Investment Fund signed a deal with ACT Ventures to provide €20 million in financing to small tech businesses in Ireland. For the latest EFSI figures country-by-country, see here. A full press release on today’s agreement is available here.
Bringing back hope to patients on waiting lists all over Europe: Statement by Vytenis Andriukaitis on the occasion of European Day for Organ Donation and Transplantation
“On 9 September we celebrate the 18th European Day for Organ Donation and Transplantation. I am in Lithuania at an event marking the 30th anniversary of the first heart transplant in the country. It is an emotional moment for me because 30 years ago, as a young surgeon, I had the privilege to take part in that operation. Since then, the number of transplantations, of all types, has increased a lot in the EU and worldwide, only between 2010 and 2015 the increase was 14 per cent… A large part of this is thanks to higher donation rates. Therefore we should honour the contribution of the countless everyday heroes in the EU who have helped extend and save hundreds of thousands of lives. Improvements are also due to surgical advances, better coordination between clinical teams, improved transport and safety standards for organs, and an increase in the cross-border exchange of organs. […] In just two years, almost 90 transplants have taken place, mainly for children, which would not have been possible without this. We will soon publish a report that will clearly illustrate that pooling resources and knowledge across the EU can significantly improve clinical outcomes[…] Unfortunately, nevertheless 16 patients die every day waiting for an organ in the EU; thousands of patients remain on transplant waiting lists. As a doctor, I know exactly how far we have come, medically speaking. As a European Commissioner I know the fundamental importance of coordination at a European level when we’re talking about organ donation and transplantation. I believe that together with our Member States we can do more. Where there is a will there is a way.” The full statement in all linguistic versions is available online.
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DAILY NEWS 08- 09 -2017