To part-finance research into biotherapy projects
The European Investment Bank (EIB) is lending €100m to France’s Laboratoires Pierre Fabre to part-finance pharmaceutical research programmes, particularly for biotherapy.
The company aims to discover new natural, chemical and biological molecules to create treatments for oncology, neuropsychiatry and dermatology.
Projects covered by the EIB loan would include the discovery, preclinical development (such as pharmacokinetics, pharmacology and toxicology) and clinical fields (Phases I, II or III).
Pierre Fabre’s chief executive Jacques Fabre said the loan agreement was a ‘wonderful vote of confidence in our company’s innovative capabilities’.
The EIB’s current lending policy treats research and development loan applications as a priority and this particular financing is covered by the Risk Sharing Finance Facility (RSFF), established jointly in 2007 by the European Commission and the EIB to fuel investment in research, technological development, demonstration and innovation.
Projects financed by this loan will be managed at Pierre Fabre’s main research centres in Toulouse, Saint-Julien-en-Genevois (Haute-Savoie) and Castres (Tarn, southwest France).