Investment Plan for Europe supports Galenicum
The European Investment Bank (EIB) will provide 20 million euros ($24.3 million) to finance the research, development and innovation program of Galenicum, a pharmaceutical company founded in Barcelona, Spain.
The project is backed by a guarantee provided by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. This financing will support the company's development of medicines in various treatment areas such as diabetes, oncology and the central nervous system.
Furthermore, the financing will contribute to efforts to mitigate the effects of COVID-19 since Galenicum manufactures medicines widely used to treat the virus like paracetamol (first line of treatment of symptoms) and metformin (essential treatment for diabetic patients, who are vulnerable to COVID-19).
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