On 30 April 2020 the European Investment Bank (EIB) and the Israel Innovation Authority (IIA) signed a cooperation agreement (MoU) to jointly pursue investment opportunities in the domain of bio-convergence in health. The agreement reinforces the European- Israeli cooperation in research and innovation at a critical time when the COVID19 pandemic affects all societies worldwide. The agreement, initiated by the kENUP Foundation, aims at deepening the links between Israel and the EU, fostering innovation in the region, closing investment gaps and jointly assuming global leadership in the area of bio-convergence
In the context of this MoU, the EIB granted European-Israeli company Pluristem a venture debt loan of €50 million to support its latest research efforts, in regenerative cell therapy platform. This funding will enable Pluristem to develop in the EU a treatment for the most vulnerable COVID19 patients. The company is an Israeli-European business benefiting from a guarantee from the European Fund for Strategic Investments, the financial centre-piece of the Investment Plan for Europe, in which the EIB and the European Commission are working together to mobilise investment in the EU.
Details
- Publication date
- 30 April 2020