(AOF) – Advicenne announces today the receipt of the second installment of the loan agreement with the European Investment Bank (EIB), amounting to 5 million euros. This pharmaceutical company specializing in the development of innovative treatments for people suffering from rare kidney diseases specifies that the agreement signed in July 2019 concerns a total amount of 20 million, and a first tranche of 7.5 million had been drawn in August. 2020. Thanks to this new non-dilutive contribution, Advicenne confirms its financial visibility until the fourth quarter of 2023.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.