Date: 2014-06-16
Type of information: Collaboration agreement
Compound: selected UCB compounds
Company: EIB - European Investment Bank (EU) - UCB (Belgium)
Therapeutic area: Neurological diseases - Immunological diseases
Type agreement: collaboration
Action mechanism:
Disease:
Details: * On June 16, 2014, the European Investment Bank (EIB), the financing institution of the European Union, has signed an agreement with the Belgian company UCB to provide “at-risk co-development funding” of up to €75 million for the development of selected UCB compounds. The EIB will receive milestone payments if and when predefined milestone events are successfully achieved. This partnership is a first-of-its-kind transaction. It is intended to truly share risks and returns among the partners and therefore to give incentives to UCB to invest ambitiously in its promising development programmes. The programmes have been selected from UCB’s portfolio of potential breakthrough medicines and include medicines at different stages of development. UCB and the EIB will, as partners, periodically review the stages of development and the milestones of the programmes being accelerated by the co-development funding and by the EIB actively participating in the development of the programmes. The partnership agreement between the EIB and UCB is also the first “risk sharing” transaction signed under the new InnovFin “EU finance for Innovators” programme set up jointly by the European Commission and the EIB Group. “InnovFin Large Projects” is specifically dedicated to improving access to risk finance for research and innovation projects in the European Union.
Financial terms:
Latest news:
