Juncker Plan supports €30 million investment in biomedical research fund

The European Investment Fund (EIF) is providing €30 million to the KHAN Technology Transfer Fund I, a drug discovery fund based in Dortmund, Germany. The European Investment Fund financing is via the InnovFin programme and it is backed by the Juncker Plan’s European Fund for Strategic Investments. KHAN-I will invest in innovative drug discovery projects and spin-off companies at various stages of clinical development. Commissioner Carlos Moedas, responsible for Research, Science and Innovation, said: “Today’s agreement adds to the Juncker Plan’s strong track record in supporting biomedical research and drug discovery projects. This kind of support for researchers and scientists to bring their ideas and innovations to market will help keep Europe at the forefront of innovation.” A press release is available here. As of July 2019, the Juncker Plan has mobilised €424 billion of additional investment, including €32.6 billion in Germany. The Plan is currently supporting 967,000 small and medium businesses across Europe.