Oryzon and Reig Jofre Both Selected to Participate in the Med4Cure Project

Oryzon Genomics shares rose almost 3% on the stock market after informing the National Securities Market Commission (CNMV) that it is one of the companies selected to participate as an associate member in the European Med4Cure project. Specifically, the biopharmaceutical shares rose by almost 2.9% around nine in the morning , trading at 1.92 euros per share.

Med4Cure is the first Major Project of Common European Interest (Piice) in the health sector. This is a macro-project that includes fourteen scientific projects to be developed by thirteen companies as direct partners and eleven as associate members. Piice will have the participation of Spain, Belgium, France, Hungary, Italy and Slovakia and will have one billion euros of public financing, with the aim of attracting private investment of up to 5.9 billion euros.

The project that Oryzon will develop is called Vandam and its objective is to validate experimental epigenetic drugs by applying a personalized medicine approach for rare and orphan diseases.

Oryzon Genomics may partially benefit from the Recovery and Resilience Mechanism in the Med4Cure Project

Spain has included its participation in the Piice Med4Cure in its Recovery Plan and, therefore, can partially finance its projects from the Recovery and Resilience Mechanism.

Information on the amount of aid received by each of the participants will appear in the public version of the Commission’s decision, once Brussels has agreed with the Member States and third parties on confidentiality issues.

“This multinational European Union (EU) project will play a fundamental role in guaranteeing European citizens and future global generations access to the best innovative medicines in precision medicine for rare diseases,” highlighted the CEO of Oryzon, Carlos Buesa.

Reig Jofre will participate as an associate member in the European macro-project Med4Cure

Reig Jofre supports European health development. The pharmaceutical company will participate as an associate member in Med4Cure , the first European macro-project that pursues the industrialization of new therapies in Europe. The European Commission has given the green light for the first Important Project of Common European Interest (Piice). Med4Cure is a macro-initiative that includes fourteen scientific projects to be developed by thirteen companies as direct partners and eleven as associate members.

This project is designed to support research, innovation and initial deployment in the healthcare products sector and innovative pharmaceutical production processes. The European Commission approves up to one billion euros in state aid from six member states : Belgium, Slovakia, Spain, France, Hungary and Italy, with the expectation of unlocking an additional €5.9 billion in private investments.

The project in which the pharmaceutical company will participate is called Emintech and its objective is to develop new technological strategies to combat unresolved infections , focusing on the areas of: advanced therapies (cell therapy), new treatments based on immunotherapies, bacteriophages and therapeutic vaccines for patients with resistance to antibiotics.

Reig Jofre has closed the first quarter of 2024 with a profit of 3.3 million euros, 15% less than in 2023

Reig Jofre plans to contribute his extensive experience in pharmaceutical development and technologies for new therapies, facilitating their evolution from research to clinical testing. Spain has included his participation in the Piice Med4Cure in its Recovery and Resilience Plan and, therefore, can partially finance its projects from the Recovery and Resilience Mechanism.

The director of innovation and sustainability at Reig Jofre, Isabel Amat, highlighted that “the approval of Med4Cure is relevant to accelerate new solutions to unmet medical needs and promote progress in the pharmaceutical value chain from research to the industrialization of technologies. advanced and complex. “Our knowledge and experience in pharmaceutical and technological development are essential to create the production processes necessary for these new therapies to reach patients,” she added.

Reig Jofre, a Spanish pharmaceutical laboratory founded in 1929, closed the first quarter of the year with a profit of 3.3 million euros, 15% less than in the same period of the previous year. It has also exceeded 86 million euros in sales, 10% above the first quarter of 2023.

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