EIB grants financing for Apeiron

The European Investment Bank (EIB) will provide financing of 25 million Euros ($29.6 million) to the Austrian biotech company Apeiron Biologics.

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). The 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.”