Belgium's UCB granted EIB financing for CNS R&D program

The European Investment Bank (EIB) will grant financing to UCB (Euronext Brussels: UCB), Belgium’s largest drugmaker, for its R&D program in the therapeutic fields of severe disorders of the central nervous system (CNS). A 150 million-euro ($194.8 million) contract was signed and the additional amount of 100 million euros will be available in 2013.

The major indications targeted by UCB with the financed program are epilepsy, Parkinson’s disease, multiple sclerosis, fibromyalgia, restless legs syndrome (RLS) and diabetic neuropathic pain (DNP). It is aiming at developing innovative new medicines that will help patients to lead normal everyday lives.

EIB’s long term loan to UCB will contribute to the diversification of the company’s lending portfolio at times when such sources are both necessary and scarce. It will help to further develop UCB’s diversified pipeline of new drugs with several products in late stages and to identify new candidate drugs for entering clinical trials; it will strengthen the company’s European RDI activities.