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Bio-Hub Portugal Invests EUR 19.2 million

Bio-Hub Portugal Invests EUR 19.2 million -
Bio-Hub Portugal Invests EUR 19.2 million - Portugal Business News

Bio-Hub Portugal, the national platform for development research on innovative biopharmaceuticals, is investing EUR 19.2 million for a programme that is funded by the Recovery and Resilience Plan (RRP).

Bio-Hub, that deals with the development and marketing of biological medicinal products, has already received a down-payment of EUR 2 501 289, that is 13% of the total amount. The programme, that is starting on January 1st 2023, is developed in order to create an international hub in the field of Health Sciences. The hub will support the production of innovative biological medicines, that are medicines whose active substance is made by a living organism. This will increase the supply of innovative biological products and support exports, as the initiative will add value to exports from the biopharmaceutical sector.

This new programme, that is under the Recovery and Resilience Plan (RRP), will provide synergies between academia and the business sector. The Bio-Hub consortium is comprised of 4 promoters and involves the creation of a production unit that will provide support for the development of biopharmaceuticals as well as product marketing. Investments in the sector will reach EUR 46 467 798 as the consortium intends to position Portugal to spearhead the development of new biological therapies for various pathologies.

The programme’s first beneficiaries include the Faculty of Pharmacy of the University of Lisbon, that received EUR 1 million and the Agency for Competitiveness and Innovation IAPMEI, that received a total funding of EUR 19.2 million.

The RRP provides investments to be implemented by 2026 for a sustainable and inclusive recovery. It comprises of 6 pillars for the 2030 EU strategy, that are the transition to a Green economy, digital transformation, smart growth that includes SMEs, social and territorial cohesion, health and economic resilience as well as well as policies for future generations.

There is an ongoing Call for Proposals for the selection of projects and beneficiaries of the RRP fund that will support the development of a Portugal Biopharmaceutical Hub.

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