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31 Aug 2017

EIB grants financing to Austrian Biotech company

The European Investment Bank (EIB) will provide financing of EUR 25 million to the Austrian biotech company Apeiron Biologics AG (Apeiron). The financing will support the development of new pharmaceutical products to treat cancer, particularly a rare type affecting children. The transaction
with Apeiron was supported by the “European Fund for Strategic Investments” (EFSI). According to Andrew McDowell, Vice President of the EIB and responsible for Austria, the financing will enable Apeiron to significantly increase its R&D activities. This will create 5-10 highly qualified jobs and will increase Apeiron’s workforce by up to 25 percent.

Hans Loibner, Chief Executive Officer of Apeiron, commented: “We are very pleased about the fact that the EIB has recognised Apeiron’s potential for further groundbreaking R&D. 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 company’s future.”

Apeiron is a private biotech company based in Vienna, Austria, engaged in innovative projects in immuno-oncology. Recently the most advanced project (immunotherapy of neuroblastoma) was granted marketing approval in the EU. The company is developing additional cancer immunotherapy projects based either on targeted, tumor-specific approaches or on the stimulation of the immune system via novel and proprietary modes of action (unique checkpoint blockade mechanisms) to fight cancer by engaging the human body’s natural defense mechanisms.

Source: EIB

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