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Sylentis, a PharmaMar Group (MSE:PHM) company, announces that the European Commission has today made public the Decision C(2024) 3629 final of May 28th 2024, by which the Company has been selected to receive a €21.1 million grant under the IPCEI (Important Projects of Common European Interest) ‘Med4Cure’ program. This will come from Spain’s allocation of the NextGenerationEU fund from the Ministry of Science, Innovation and Universities through the CDTI (Centre for Technological Development and Innovation).
The entire aid will be allocated to the SYOLIGO project, which represents the first industrial deployment in Spain for the production of RNA-based drugs, as well as the development of treatments for rare diseases.
The new pharmaceutical plant located in the Madrid town of Getafe has a surface area of 6,000 m2, built under the criteria of sustainability and digitalization for maximum efficiency. The factory will have a dual purpose: to provide manufacturing services for Sylentis’ needs in its research projects for rare diseases and to enter into the manufacturing of RNA-based drugs for application in various pathologies for third parties. In addition, the project will generate a positive impact on the country, as it will boost employment with the direct hiring of 86 new highly skilled positions and 350 indirect ones by 2030.
Sylentis has been the only Spanish company selected as a direct participant in the IPCEI Med4Cure program. In addition, within the SYOLIGO project, collaboration with different European partners from the pharmaceutical sector is foreseen.
“SYOLIGO aims to establish the technological base necessary for the advancement of innovative therapies, in addition to enabling key facilities in Spain that will allow for sustainable growth and productivity. This project represents a fundamental strategic step in strengthening the European pharmaceutical industry. Sylentis and the PharmaMar Group are committed to cutting-edge research and innovation in the treatment of rare diseases,” commented Andreas Segerros, CEO of Sylentis.
RNA-based drugs are innovative, high-precision molecules that are increasingly gaining approval from health authorities worldwide. By the end of 2024, more than twenty RNA-based drugs had been approved and hundreds of therapies were in various stages of clinical development.
Med4Cure is the first IPCEI in the healthcare field and involves 14 research and development projects from 13 European companies, covering all key stages of the pharmaceutical value chain. The aim is to accelerate medical progress and foster the resilience of the EU healthcare industry by improving drug discovery, especially for unmet medical needs such as rare diseases, and developing innovative and more sustainable pharmaceutical production processes.
