BRIEF—EIB Investment Plan supports cancer treatment R&D

The European Investment Bank (EIB) has signed two financing deals under the Investment Plan with companies developing treatments for cancer. The first is 15 million ($16.7 million) for Italian biotech company MolMed, which will use the financing for research and clinical trials for gene and cell therapies as treatments for cancer and rare diseases.

The second is  €50 million for the German BioNTech to manufacture and take to market its most advanced treatments under development.

European Commissioner for the Economy, Paolo Gentiloni, said: “Providing financing for research, development and clinical trials is critical for biotech companies such as MolMed and BioNTech. The Investment Plan for Europe has a strong track record in supporting cancer research but this is one of the first projects in Italy. The Commission will continue to support ground-breaking medical research that could prove vital to so many Europeans.”

As of November 2019, the Investment Plan had mobilised 450.6 billion euros of investment across the European Union, and supported more than one million start-ups and small and medium businesses.

More information is available on the  website.