IRBM to receive EIB funding to expand R&D into COVID-19
IRBM’s goal will be to help ensure a more resilient global response to future epidemics by producing second generation vaccines and treatments for SARS-CoV-2 and new coronaviruses.
The European Investment Bank (EIB) is to provide €15 million in funding to IRBM SpA to expand its research into coronavirus and other infectious diseases.
The EIB financing is supported by the Infectious Diseases Finance Facility window under the EU’s InnovFin – EU finance for innovators programme, backed by the European Union’s research and innovation programme Horizon 2020.
Italian company IRBM SpA specialises in research and development for new biomedical and pharmaceutical solutions to combat rare, infectious, oncologic and neurological diseases.
The project covers the expansion of the company’s research and development activities between 2022 and 2024, both to increase capacity to address the spread of coronavirus and to scale up research into other infectious diseases. The plans will focus on expanding vaccine production, including quality control and assurance with state-of-the-art equipment and technologies.
The expansion will also mobilise IRBM’s Italian research infrastructure to develop vaccines to alleviate the ongoing global vaccine shortage. IRBM’s goal will be to help ensure a more resilient global response to future epidemics by producing second generation vaccines and treatments for SARS-CoV-2 and new coronaviruses. The initiative is expected to have a positive impact on both specialised employment growth and sustainability via innovative biotechnology solutions.
The company’s enhanced involvement in the global scientific response will contribute to the development of know-how and production capacities for vaccines and new medicines in Europe, which are among the key priorities of the European Union and in line with the goals of the InnovFin Infectious Diseases Facility (IDFF) and the World Health Organization.
“This operation confirms the EIB’s support for medical research and development alongside innovative companies like IRBM involved in the development of new coronavirus vaccines and treatments,” commented Gelsomina Vigliotti, EIB Vice-President.
IRBM President and CEO Piero Di Lorenzo added: “We are proud that the EIB has decided to provide this financing to support IRBM Group’s ambitious development plans which will help the world fight against coronavirus and other infectious diseases. The company is currently enhancing its role in the life science sector via the expansion of highly innovative research and manufacturing capabilities, the hiring of key staff with international expertise and through strategic acquisitions.”