Spanish pharmaceutical company gets EIB boost for cancer research
The European Investment Bank (EIB) and Spain's Institute of Official Credit (ICO) are together providing the Zeltia Group with €50 million for biopharmaceutical research and development (R&D) activities. The R&D is aimed at strengthening the priorities, primarily oncology, of Zeltia subsidiary company PharmaMar. Life sciences offer significant growth potential, and are a key part of the EU's Seventh Framework Programme (FP7) for research. PharmaMar is Spain's leading biotech company, and focuses on developing innovative anti-cancer treatments from marine origins. The company was created in 1986, and currently has five compounds in clinical development and a large preclinical pipeline. It also has a library of more than 42,000 micro and macro marine organisms.
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