The European Commission has approved, under EU State aid rules, the first Important Project of Common European Interest (‘IPCEI’) to support research, innovation and the first industrial deployment of healthcare products, as well as innovative production processes of pharmaceuticals. This IPCEI will notably contribute to the European Health Union‘s objectives by delivering innovations addressing diseases for which there are no satisfactory means of prevention or treatment and by increasing the EU’s preparedness for emerging health threats.
The project, called ‘IPCEI Med4Cure’, was jointly notified by six Member States: Belgium, France, Hungary, Italy, Slovakia and Spain.
The Member States will provide up to €1 billion in public funding, which is expected to unlock additional €5.9 billion in private investments. As part of this IPCEI, 13 companies with activities in one or more Member States, including nine small and medium-sized enterprises (‘SMEs’), will undertake 14 highly innovative projects…
