The European Investment Bank (EIB) is providing a €45 million loan to part-finance HIPRA's investments, working capital requirements and research, development and innovation activities for developing a new COVID-19 vaccine.
HIPRA is a pharmaceutical company focusing on the development, manufacture and sale of vaccines and other immunological solutions for both animals and humans. The COVID-19 pandemic has accelerated the company’s entry into the human health sector thanks to its extensive knowledge and skills in working on the development of a COVID-19 vaccine.
The EIB-financed project will strengthen HIPRA's knowledge and production capacity for coping with current and future pandemics. It will also help to secure a European supply chain for the commercial manufacture of a vaccine based on innovative recombinant protein technology.
By supporting this project, the EIB will help to build scientific knowledge at a European level, while also safeguarding and promoting highly skilled job opportunities. This is the EIB's second loan to HIPRA, after an initial €35 million financing operation signed in two tranches in 2019 and 2021.
EIB Vice-President Ricardo Mourinho Félix said: “We are very proud to be working with HIPRA once again, this time for something of such paramount importance as a COVID-19 vaccine. The operation demonstrates the EIB's firm commitment to incentivising innovative skills in health sector companies and to improving people's quality of life.”
HIPRA commented: “The entire HIPRA team is committed to developing the new COVID-19 vaccine. We believe that this project will also help to strengthen a strategic capacity for Europe, enabling it to face new challenges in the future. The EIB is supporting this vision.”
The European Investment Bank (ElB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy objectives.
Supporting small and medium-sized enterprises (SMEs) and driving innovation are among the EIB Group’s key priorities in Spain, and the Bank allocated over €4.195 billion and €878 million, respectively, to these goals in 2020.
HIPRA is a pharmaceutical company focused on prevention and diagnosis for animal and human health, with a wide range of highly innovative vaccines and advanced diagnostic services. It is dedicated to offering solutions that improve global health. HIPRA has a strong international presence in more than 39 countries with its own subsidiaries, 11 diagnostic centres and two production plants. Research and development form the core of its knowledge — it allocates 10% of its annual turnover to R&D.