The European Investment Bank (EIB) is providing a EUR 60 million loan to Bial, the largest pharmaceutical company in Portugal, for the financing of its research and development activities.
The EIB long-term financing will be dedicated to support the promoter’s research and development activities with a focus on pre-clinical and clinical development of novel compounds for indications in epilepsy, cardiovascular disorders and Parkinson’s disease. The activities under the R&D programme will run until 2017 and be carried out at the company’s main R&D facilities in Oporto. In addition, later stages of product development will be done in collaboration with specialised clinical research organisations.
The Bank’s support will allow Bial to diversify and develop its R&D products and will reinforce the competitiveness and international expansion of the company. In addition, the research activities target areas of significant unmet medical need and will help improve patients’ quality of life.
As an innovative company, the promoter plays an important regional economic role through knowledge generation, contribution to sustainable growth and the creation of skilled employment in a European region with below EU-average R&D expenditure.
The loan reflects the EIB’s commitment to supporting RDI and is in line with the EU’s priority objectives under the Horizon 2020 programme to improve innovation and research, boost competitiveness and foster job creation.