The European Investment Bank (EIB) has granted a €120 multimillion loan to Spanish pharmaceutical company Almirall under the investment plan for Europe.
In a statement released by Almirall, it is confirmed that with EIB’s support, Almirall will be able to execute its research, development and innovation focused on developing therapies to improve the quality of life for patients with inflammatory dermatological diseases, selected cutaneous cancers and rare congenital disorders.
The research will focus specifically on atopic dermatitis, psoriasis, actinic keratosis and effective treatment for a congenital disease such as epidermolysis bullosa, according to the company.
EIB vice president Emma Navarro said, “We are delighted to sign an agreement demonstrating the EIB’s firm commitment to fostering innovation and supporting the development of new medication that will improve people’s quality of life. At the same time, the EIB is helping a Spanish leading company in the sector to maintain access to cutting-edge research technologies, thereby securing the future of the highly competitive pharmaceutical industry in Europe.”
Peter Guenter, CEO of Almirall added, “Our commitment to improving patients’ quality of life undoubtedly means forging ahead with our research and development, the mark of Almirall’s identity, developing new effective and efficient medicines. The funding provided by the EIB will make a significant contribution to the realisation of our ambitious research and development plans.”