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Luxembourg : EIB provides funding of EUR 50 million to BioNTech as part of the Investment Plan for Europe
Publish Date : 19-Dec-2019
The European Investment Bank (EIB) and BioNTech SE (BioNTech or the Company) announced today the signing of a contract which provides financing of EUR 50 million to BioNTech SE, an international clinical-stage biotechnology company focused on patient-specific immunotherapies for the treatment of cancer and other serious diseases. BioNTech will use the funds for the research and development, market access and manufacturing development for its most advanced treatments under development.
The EU banks loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe the Juncker Plan under which the EIB and the European Commission are working together as strategic partners and the EIBs financing operations are boosting the competitiveness of the European economy.
EIB Vice-President, Ambroise Fayolle, who is responsible for EFSI and operations in Germany, said: BioNTech focuses on patient-specific immunotherapies for the treatment of cancer and beyond. This approach is highly innovative as it combines ground-breaking research with cutting-edge technologies. For the EIB, in particular with the support of the Juncker-plan, it is a top priority to support investment that is geared towards innovation and greater competitiveness. I therefore very much welcome our cooperation with BioNTech, as the company is driven to become the leading global biotechnology company for individualized cancer medicine, with the headquarters based in the heart of Europe.
European Commissioner for the Economy, Paolo Gentiloni, said: The Investment Plan for Europe has a strong track record in supporting innovative biotech companies researching new therapies for serious diseases. The EIBs 50 million in financing will allow BioNTech to take on more highly-specialized staff and push forward the research and development of treatments that could prove to be life-saving.
BioNTechs CFO, Dr. Sierk Poetting said: We see the funding of the European Investment Bank as a token of trust in BioNTech as a innovative, and fast growing company. We aim to build a global biotechnology leader. Our focus is to develop and commercialize the next generation of immunotherapies, as we aspire to individualize cancer medicine. We have always placed a significant emphasis on a fully integrated business model including our own manufacturing and production as we want to ensure a high-quality and fast treatment production. The EIBs funding will increase the production capacities for our mRNA-based product candidates and also create new jobs.
