The research, development, and innovation program of the Barcelona-based pharmaceutical company Galenicum has received support from the European Investment Bank (EIB), which will finance it with 20 million euros. For the EIB, this aid must serve to strengthen the company's position in the sector, in addition to favoring its growth.
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"This financing agreement will allow us to improve our products and processes to benefit not only patients but also the healthcare model in a broader way," explains one of Galenicum's co-founders, Alex Ollé. Specifically, it will allow them to develop medicines in various therapeutic areas, such as diabetes, oncology, and the central nervous system, and will contribute to reducing the impact of covid-19, considering that the pharmaceutical company manufactures medicines used to treat the virus, such as paracetamol and metformin. The European bank will also facilitate the purchase of equipment to expand the capacity and flexibility of Galenicum's plant in Madrid.
Likewise, the Commissioner for Economy, Paolo Gentiloni, has argued that this aid comes "at the right time, now that pioneering medical research is more important than ever." The EIB has signed this financing agreement with Galenicum thanks to the Investment Plan, which has currently mobilized up to 546,000 million euros of investments across Europe, of which 63,000 million have been allocated to Spain.