Investment plan

Support of 22 million euros to a Polish company for new cancer treatments

The European Investment Bank (EIB) supports a Polish company, Discovering Ryvu Therapeutics for the research and development of new cancer treatments

European Commission Press release Brussels, 17 August 2022

The European Investment Bank (EIB) is providing €22 million (over 100 million Polish zlotys) in financing to Ryvu Therapeutics, a Polish clinical-stage drug discovery and development company focused on novel small molecule therapies that address unmet medical needs in oncology. The financing is provided under the EIB’s sub-prime debt instrument, which is tailored to the specific financing needs of high-growth innovative companies. The European Fund for Strategic Investments, which is part of the Investment Plan for Europe, accompanies this financing with a guarantee.

The EIB support will help Ryvu fund its development pipeline of new cancer treatments, from discovery to clinical trials. Ultimately, Ryvu aims to address the clinical limitations of current oncology treatments and provide patients with access to innovative therapies for hematologic and solid tumors.

Valdis DombrovskisExecutive Vice-President of the European Commission for an Economy that Works for People, said: I welcome this EIB investment, supported by the Investment Plan for Europe, in the Polish company Ryvu Therapeutics. This is great news for Europe’s competitiveness and its position as a research hub for life-changing innovations. The additional funding will go towards the discovery, research and development of innovative therapies to treat cancer patients. This investment will also support the regional economy and create highly skilled jobs along the way..”

EIB Vice-President Teresa Czerwińska said: “Financing research, development and innovation projects is one of the main priorities of the EIB and is particularly relevant today, when the world is suffering from the health crisis caused by the pandemic. The support of innovative companies like Ryvu specializing in advanced biotechnology research is clearly needed and we are delighted to support this ambitious company, which has an outstanding track record in drug discovery and development. EIB investment will strengthen Ryvu Therapeutics’ capacity and competitiveness in research, development and innovation, benefiting society at large.”

Innovation, research, the digital economy and the development of human capital are top priorities for the EIB Group. In 2021, overall EIB Group financing for innovation, digital transformation and human capital projects reached €20.7 billion worldwide, of which €1.5 billion went to Poland ( compared to 1.2 billion euros in 2020).

We are very pleased to receive funding from the European Investment Bank, which is so instrumental in providing financial support to innovation-driven companies like Ryvu seeking to develop new medicines that can save lives.said Pawel Przewiezlikowski, Managing Director of Ryvu Therapeutics. “We would like to thank the EIB for their collaboration, as this funding will help Ryvu continue to advance its clinical-stage oncology pipeline, including RVU120 in clinical development for the treatment of hematologic and solid tumors, as well as one-to-one projects. early stage..”

Ryvu Therapeutics is already one of the main employers of highly qualified researchers in the field of biotechnology in Poland. With research and development (R&D) activities based in Krakow, the additional investment in Ryvu will contribute to the creation of new highly skilled jobs and encourage economic growth in the region.

Background information

The European Investment Bank (EIB) is the European Union’s long-term lending institution owned by its Member States. It makes long-term finance available for sound investments to contribute to EU policy objectives. The bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). In 2021, the EIB Group financed projects worth 6.5 billion euros in Poland. Part of this funding – equivalent to 1.5 billion euros – went to projects directly related to innovation, research, digital transformation and the development of human capital.

The European Fund for Strategic Investments

The European Fund for Strategic Investments (EFSI) is the main pillar of the Investment Plan for Europe. It provides first loss guarantees so that the EIB Group can invest in projects with a higher level of risk. To date, projects and agreements approved for financing under the EFSI have attracted investments totaling €524.3 billion, benefiting over 1.4 million small and medium-sized enterprises companies. The Investment Plan for Europe has been replaced by the InvestEU programme, although some previously approved operations can still be signed.

Therapeutic Ryvu

Ryvu Therapeutics is a clinical-stage drug discovery and development company focused on novel small molecule therapies that target emerging targets in oncology. The internally discovered pipeline candidates utilize a variety of therapeutic mechanisms driven by emerging insights from cancer biology, including kinase-directed small molecules, synthetic lethality, and immuno-oncology targets.

Ryvu’s most advanced programs are RVU120 – a selective CDK8/CDK19 kinase inhibitor with potential for the treatment of hematological malignancies and solid tumors currently in Phase I clinical development for the treatment of acute myeloid leukemia and myelodysplastic, and in phase I/II for the treatment of metastatic or advanced r/r solid tumors — and SEL24 (MEN1703), a dual PIM/FLT3 kinase inhibitor licensed to the Menarini Group, currently in phase II clinical studies in the acute myeloid leukemia. Ryvu Therapeutics has signed ten partnership and license agreements with global companies, including Merck, Menarini Group, Galapagos and Exelixis.

The company was founded in 2007 and is headquartered in Krakow, Poland. Ryvu is listed on the Warsaw Stock Exchange and is part of the sWIG80 index. For more information, please visit www.ryvu.com.