Drug-delivery tech developer AMW has landed $30 million from the European Union’s lending institution to help fund the company’s development activities and expand production capacity.
The German pharmaceutical company’s newly-acquired funds will specifically support a new R&D facility located in Bavaria.
The transaction was supported by the European Fund for Strategic Investments.
“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,” Ambriose Fayolle, VP of the EIB for innovation, EFSI and Germany, said in prepared remarks.
“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.”
“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,” AMW’s founder & managing director, Wilfried Fischer, added.
“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.”