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Biotech firm gets EIB backing

The European Investment Bank has given a €25-million loan to the Austrian biotech company Apeiron Biologics to develop a cancer drug for children.

The funding for drugs to treat cancer, given as part of the European Fund for Strategic Investments (Efsi), will be aimed particularly at  developing a drug that will treat a rare type of cancer that affects children, the EIB said in a statement on 28 August. 

Andrew McDowell, vice-president of the EIB said: “The EU bank’s investments, especially in small and medium-sized businesses at the cutting edge of R&D, are key to helping strengthen Europe’s competitiveness and fostering sustainable growth.”

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