Poland's Ryvu gets EIB support for its cancer treatment program
The European Investment Bank (EIB) is providing 22 million euros ($22.4 million; above 100 million polish zlotys) in financing to Ryvu Therapeutics (WSE: RVU), Poland’s largest biotech firm that is focusing on novel small molecule therapies that address unmet medical needs in oncology.
Ryvu’s shares were up almost 10% at 43.40 zlotys by midday following the announcement today.
The funding is being provided under the EIB's venture debt instrument, which is tailored to the specific financing needs of high-growth innovative companies. The European Fund for Strategic Investments, part of the Investment Plan for Europe, is backing this funding with a guarantee.
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