Paris – June 6, 2024 – EUROAPI has received official notification from the European Commission that the Company has been selected as one of the 13 companies eligible to share up to EUR 1 billion in total public funding under the Important Project of Common European Interest (IPCEI) dedicated to the pharmaceutical sector, “IPCEI Med4Cure”.
This IPCEI had been jointly notified by six Member States of the European Union, i.e. France, Belgium, Hungary, Italy, Slovakia and Spain as a means to strengthen the European health market and to ensure, in particular, sustainable, competitive and integrated production of active pharmaceutical ingredients that are essential for public health. Under this program, the six Member States are authorized by the Union to devote up to EUR 1 billion in public funds for all selected projects and associated partners. The French government and EUROAPI will now be able to begin discussions to prepare the contractual agreement for the granting of public aid within the framework of France 2030.
Med4Cure will notably enable to co-fund EUROAPI’s R&D activities up to industrial feasibility studies. EUROAPI will leverage this IPCEI opportunity to further develop three innovative programs and sustainable production processes in Europe and to help meet by 2030 the demand for critical medicines that are currently imported and offer new drug delivery solutions in the following sectors:
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For macrolide antibiotics used in the treatment of infectious diseases, EUROAPI’s project to reshore production at its Saint-Aubin-lès-Elbeuf site (Seine-Maritime) would enable the Company to expand its portfolio in this global market.
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For corticosteroids (including methylprednisolone), which are used for their anti-inflammatory and immunosuppressive effects, EUROAPI intends to develop state-of-the-art processes and technologies at its Vertolaye site (Puy-de-Dôme).
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For nanoparticles, also in Vertolaye, EUROAPI’s objective is to increase the bioavailability of molecules in the body and to find new therapeutic applications for active pharmaceutical ingredients that already marketed, or to support the development of new drugs thanks to additional formulations.
“We are proud to have been selected by the European Commission. It is a true recognition of our mission and excellence in R&D. It will help us carry out innovative projects that are key to long-term European sovereignty and which will contribute to the green transition of the pharmaceutical industry,” said Ludwig de Mot, Chief Executive Officer of EUROAPI. “Our projects are built on strong collaborations with many valuable partners from the academic and start-up environments, allowing this European ecosystem to benefit from a spillover effect that will contribute to Europe’s competitiveness.”
These three IPCEI programs are aligned with EUROAPI’s FOCUS-27 plan, which has been announced in February 2024, and will help the Company in building a more sustainable and profitable growth, in particular regarding corticosteroids.
For further information on this program, please refer to the European Commission press release.
About EUROAPI
EUROAPI is focused on reinventing active ingredient solutions to sustainably meet customers’ and patients’ needs around the world. We are a leading player in active pharmaceutical ingredients with approximately 200 products in our portfolio, offering a large span of technologies while developing innovative molecules through our Contract Development and Manufacturing Organization (CDMO) activities.
Taking action for health by enabling access to essential therapies inspires our 3,650 people every day. With strong research and development capabilities and six manufacturing sites, all located in Europe, EUROAPI ensures API manufacturing of the highest quality to supply customers in more than 80 countries. EUROAPI is listed on Euronext Paris; ISIN: FR0014008VX5; ticker: EAPI). Find out more at www.euroapi.com and follow us on LinkedIn.
Forward-Looking Statements
Certain information contained in this press release is forward looking and not historical data. These forward-looking statements are based on opinions, projections and current assumptions including, but not limited to, assumptions concerning the Group’s current and future strategy, financial and non-financial future results and the environment in which the Group operates, as well as events, operations, future services or product development and potential. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Forward looking statements and information do not constitute guarantees of future performances, and are subject to known or unknown risks, uncertainties and other factors, a large number of which are difficult to predict and generally outside the control of the Group, which could cause actual results, performances or achievements, or the results of the sector or other events, to differ materially from those described or suggested by these forward-looking statements. These risks and uncertainties include those that are indicated and detailed in Chapter 3 “Risk factors” of the Universal Registration Document filed with the French Financial Markets Authority (Autorité des marchés financiers, AMF) on April 5, 2024. These forward-looking statements are given only as of the date of this press release and the Group expressly declines any obligation or commitment to publish updates or corrections of the forward-looking statements included in this press release in order to reflect any change affecting the forecasts or events, conditions or circumstances on which these forward-looking statements are based.
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