EIB grants €45 mln loan to Polpharma

The European Investment Bank (EIB) is lending €45 million to the largest Polish manufacturer of pharmaceuticals, Polpharma, for its research into and development of biosimilar drugs – more affordable alternatives to current treatments. This is the first EIB operation in Poland supported by the new generation of financial instruments for innovative and growth companies, “InnovFin – EU Finance for Innovators”, with the financial backing of the European Union under Horizon 2020. The aim of the project of Polpharma is to provide patients with wider access to modern biological drugs and also to address unmet medical needs in the area of severe and life-threatening diseases such as cancer, Crohn’s disease, multiple sclerosis and rheumatoid arthritis. “We are pleased to be partnering with Polpharma in this breakthrough operation as it will enable the EIB, the bank of the European Union, to support innovative research and development of more affordable healthcare treatments in Poland. Polpharma is a role model for our support for fast growing, innovative and expanding companies in Poland. Projects such as this strengthen the competitiveness and boost the innovative capacity of European health-related industries and businesses,"said László Baranyay, EIB Vice-President responsible for lending in Poland.