EU
#JunckerPlan supports Bavarian Nordic's vaccine production with €30 million #EIB loan
The European Union is supporting biotech company Bavarian Nordic with a €30 million loan from the European Investment Bank (EIB) which is guaranteed under the Juncker Plan's European Fund for Strategic Investments (EFSI). Bavarian Nordic will use the funding to build and furnish a production facility on its existing site in Kvistgård, Denmark, where it uses advanced biotechnological manufacturing processes and technologies for the production of vaccines. Bavarian Nordic has played a pivotal role in the fight against communicable diseases - notably Ebola – and by developing defence mechanisms against potential bioterrorism threats, such as smallpox, the biotech firm is a key contributor to the European Security Initiative.
Health and Food Safety Commissioner Vytenis Andriukaitis said: "Global health security is a matter of universal concern and key priority for the European Commission. The Ebola crisis showed that very clearly and gave us an important lesson on the necessity to work together to prevent new types of threats. The EIB loan allocated today under the Juncker Plan shows once again a joint commitment to support the EU's capacity to deal with health threats by encouraging the research and development of innovative therapies against infectious diseases, cancer and other threats."
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