EIB finances Minoryx's orphan genetic diseases research
The European Investment Bank has approved €25 million financing for Spain's Minoryx Therapeutics, a Phase 3 clinical stage biotech company focused on the development of differentiating treatment options for orphan central nervous system disorders.
The bank will grant long-term financing to Minoryx to drive the company’s research activities in orphan genetic diseases for which there are currently no approved drugs available. The EIB investments will specifically support the development of Minoryx’s leriglitazone, a disease-modifying treatment (PPAR-γ agonist) currently being evaluated in three late-stage clinical trials.
The EIB will provide funds for this RDI project by way of a venture debt operation under the European Fund for Strategic Investments, a financing instrument used by the EU bank to assist leading companies in innovative research sectors.
