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Publish Date : 31-Aug-2017

Backed by the European Fund for Strategic Investments (EFSI), the European Investment Bank (EIB) has offered a loan of EUR 25m loan to the Austrian pediatric cancer specialist Apeiron Biologics AG to enhance its pipeline of antibodies, fusion proteins and low molecular weight checkpoint inhibitors.

CEO of the 11-year-old Viennese biotech, Hans Loibner, said: "Our recent achievement of obtaining the EU marketing authorisation for our most advanced project in combination with access to additional funding through the EIB forms a very promising basis for our companys future."

The EIB investment will help develop the cancer pipeline of Apeiron Biologics, which already markets an antibody drug (dinutuximab beta, APN311) targeting the GD2 antigen highly expressed by the rare pediadric cancer neuroblastoma in Europe Most recently, the antibody has been licenced for FDA registration.

The bank's investment will go towards adding qualified staff for new projects to Apeirons 35 employees. Andrew McDowell, Vice President of the EIB and responsible for Austria, stated: "Our loan, in particular through its long tenor and its favorable financing conditions, will enable Apeiron to significantly increase its R&D activities. This will create 5-10 highly qualified jobs and will increase Apeirons workforce by up to 25%."

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, added: "I am delighted that the Investment Plan is contributing to ground-breaking research and development projects undertaken by Apeiron to develop new drug treatments."

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