Investment Plan for Europe: EIB grants financing to pharmaceutical company AMW
- Release date: 21 December 2017
- Reference: 2017-399-EN
The European Investment Bank (EIB) will provide financing of EUR 25m to AMW GmbH (AMW), a German pharmaceutical company specialised in the development and manufacturing of innovative drug delivery systems. The financing will support AMW in Warngau, Bavaria, and its subsidiary Endomedica in Halle, Saxony-Anhalt, enabling them to increase R&D activities, conduct clinical trials and expand production capacity. This will be achieved with a new building located at the head office in Warngau to house research, development and production facilities complimented by purpose-built manufacturing technology and state-of-the-art laboratory equipment.
The transaction with AMW was made possible by the support of the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, under which the EIB Group and the European Commission aim to act as strategic partners to boost the competitiveness of the European economy.
Ambroise Fayolle, Vice-President of the EIB responsible for Innovation, EFSI and Germany, commented: “Supporting research, development and innovation with an important health impact is a key priority for the European Investment Bank. Our transaction with AMW, supported by EFSI, is a perfect demonstration of the real, tangible benefits that Europe is providing in supporting young innovative pharma companies and promoting sustainable growth and jobs.” He added: “This is our first transaction with AMW. I am delighted that we can, in particular through our long tenor, support an innovative company active in an area that makes a real difference in people’s daily lives.”
Dr Wilfried Fischer, Founder and Managing Director of AMW, commented: “AMW has an increasing pipeline of advanced-stage R&D projects close to market entry generating additional financing needs. We have been looking for an R&D-focused type of financing for quite some time, and believe that this dedicated programme is a perfect match for sustaining our growth rate by addressing the unmet needs of patients with severe diseases. With the acceleration of the R&D projects, we are confident of our ability to act as a major player in new drug delivery systems in multi-billion euro target markets like diabetes or breast cancer – based and growing in the European Union. Speed is key for pharmaceutical markets and together with the EIB we are able to enter the next stage of our company’s growth.”
European Commissioner Vytenis Andriukaitis, responsible for Health and Food Safety, said: “This is a concrete example of what the European Union can do for its citizens. Supporting R&D and clinical research contributes significantly to developing and producing new and innovative medicines for patients.”