UCB agrees new funding deal with European Investment Bank

UCB has announced that the European Investment Bank (EIB) has agreed to help directly fund a number of its research and development projects.

As part of its new "at-risk co-development funding" approach, the EIB will provide up to 75 million euros (59.85 million pounds) for the development of selected UCB compounds. In return, it will receive payments if and when predefined milestone events are successfully achieved.

The agreement will allow risks and returns to be shared, giving UCB more of an incentive to invest in promising programmes that can potentially help millions of patients worldwide.

Its commitment to creating new therapies for severe diseases in neurology and immunology and its best-in-class expertise were among the factors that led the EIB to choose to partner with UCB.

Roch Doliveux, chief executive officer of UCB, said: "We're happy that our cutting-edge research and innovation is yet again recognised by the EIB, and that they have chosen UCB as a first partner for their new 'at risk co-development' approach."

The pharmaceutical company has been pursuing partnerships with a number of organisations in recent months, signing a strategic research alliance with Weill Cornell Medical College in April 2014.