Supporting biopharmaceutical Research and Development for Europe

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The European Commission, through its Health Emergency Preparedness and Response Authority (HERA) and in cooperation with the European Investment Bank (EIB), has signed a first investment agreement under the HERA Invest initiative to support biopharmaceutical research and development in Europe. Under this agreement, the French biopharmaceutical company Fabentech will receive €20 million in financing. The funds will be used to develop and produce therapeutic antibodies against biological health threats such as pandemics, antimicrobial resistance and other threats.

The investment is part of the HERA-Invest initiative, which specifically targets small and medium-sized enterprises (SMEs). The aim of this initiative is to strengthen Europe's strategic independence in drug development and to boost research and development of new medical countermeasures against various health threats. These risks include pandemics as well as chemical, biological and nuclear threats.

Supported by funding from the InvestEU and EU4Health programmes, HERA Invest relies on public-private partnerships to address innovation gaps in health research. As part of the initiative, the European Investment Bank provides 'venture loans', which can cover up to 50% of total project costs. The aim of this funding is not only to support research projects, but also to address market failures and leverage private investment in healthcare research. Companies can apply for funding on an ongoing basis.

HERA was launched in 2022 to better prepare the European Union for future health crises. In addition to funding, HERA also plays an important role in the production, procurement and possible stockpiling of medicines and medical devices to be able to respond quickly in crisis situations. The current investment in Fabentech is a step towards strengthening Europe's resilience to biological threats and contributes to the long-term improvement of the health infrastructure.

You can read the full text in the official press release.