Austrian biotech firm Apeiron Biologics develops pharmaceutical products to treat cancer, with a particular focus on rare forms that mainly affect children. An EU loan will help the company to expand its research and develop new ways of fighting the disease.
Apeiron's research and development (R&D) is focused on areas where a high medical need exists. A €25-million European Investment Bank (EIB) loan will enable it to expand its R&D, creating 10 highly skilled jobs and increasing its workforce by 25%.
The financing came from the European Fund for Strategic Investments (EFSI), a joint EIB and European Commission initiative aimed at boosting investment in Europe. The case of Apeiron shows how EFSI gets funding to where it is most needed.
In May 2017, Apeiron obtained EU marketing authorisation for Dinutuximab beta, an antibody that is effective against neuroblastoma – a common form of childhood cancer. The EFSI funding will allow work to continue on other projects to benefit cancer patients.
“Following the marketing authorisation for our active ingredient, and with funding from the EU, we can now intensify our R&D activities and provide many people with fresh hope”, says CEO Hans Loibner.
You are looking for financial support for research projects and scientists? Find out more about EU funding opportunities: