BRIEF—Juncker Plan supports 30 million-euro investment in biomedical research fund

The European Investment Fund (EIF) is providing 30 million euros ($33 million) to the KHAN Technology Transfer Fund I, a drug discovery fund based in Dortmund, Germany.

The European Investment Fund financing is via the InnovFin program and it is backed by the Juncker Plan's European Fund for Strategic Investments.

KHAN-I will invest in innovative drug discovery projects and spin-off companies at various stages of clinical development.

Commissioner Carlos Moedas, responsible for Research, Science and Innovation, said: “Today's agreement adds to the Juncker Plan's strong track record in supporting biomedical research and drug discovery projects. This kind of support for researchers and scientists to bring their ideas and innovations to market will help keep Europe at the forefront of innovation.”

A press release is available here.

As of July 2019, the Juncker Plan has mobilized 424 billion euros of additional investment, including 32.6 billion euros in Germany.

The Plan is currently supporting 967,000 small and medium businesses across Europe.