Investment Plan supports development of therapies for rare genetic diseases

The European Investment Bank (EIB), backed by the European Fund for Strategic Investments (EFSI), will provide €25 million of financing to Minoryx Therapeutics. Minoryx is a biotech company specialising in the advancement of treatments for rare central nervous system disorders. The newly available funding will thus benefit Minoryx’ research and development activities in orphan genetic diseases for which there are currently no approved drugs available. Commissioner for the Economy, Paolo Gentiloni, said: “This EU support will help Minoryx to develop breakthrough therapies for genetic diseases and treatments for diseases of the central nervous system. The coronavirus pandemic has shown how important it is to continue to push scientific boundaries and deliver medication for rare diseases. The European Commission will continue to support companies’ efforts in this sense at every opportunity.” The press release is available here. So far, the Investment Plan for Europe has mobilised €535 billion of investment across the EU, a quarter of which is supporting research, development and innovation projects.