Today marks an important milestone with the signing of the first HERA Invest agreement. In collaboration with the European Investment Bank (EIB), HERA has committed EUR 20 million to support the French biopharmaceutical company Fabentech in developing and deploying broad-spectrum therapeutics aimed at combating biological threats to public health.
HERA’s threat analysis has underscored the critical importance of Fabentech’s innovative technology platform, which produces broad-spectrum polyclonal antibody fragments that neutralise pathogens and toxins within the human body. With integrated research and development (R&D) capabilities, Fabentech is well-positioned to rapidly develop new immunotherapies. This advancement will play a crucial role in strengthening Europe's ability to respond swiftly to public health emergencies.
The agreement with Fabentech is the first of many expected investments under the HERA Invest initiative, which aims to drive innovation to tackle key health threats. These include pathogens with pandemic potential, chemical, biological, radiological, and nuclear (CBRN) threats, as well as the growing issue of antibiotic resistance. More investments with other European companies are anticipated, stimulating Europe’s preparedness and ability to manage future crises.
About HERA Invest
HERA Invest is a flagship initiative designed to enhance Europe's strategic autonomy in health emergency preparedness. Backed by EUR 100 million from the EU4Health programme as part of the InvestEU initiative, it targets small and mid-sized companies. HERA Invest aims to bridge the financial gap where private sector resources are insufficient, leveraging public funds to encourage private investment in the development of medical countermeasures.
The European Investment Bank, working alongside HERA, provides venture loans covering up to 50% of a project's costs. Projects are carefully assessed based on commercial and scientific viability, with applications accepted on a rolling basis. By supporting research and development in these areas, HERA Invest seeks to ensure that Europe remains prepared to face future health challenges.
Background
In 2022, HERA and Member States identified three high-impact health threats critical to Europe’s preparedness: pandemic pathogens, CBRN threats, and antimicrobial resistance. To meet these challenges, HERA is investing in the development and production of medical countermeasures, ensuring that Europe has the necessary infrastructure to respond effectively.
HERA Invest is a key part of this strategy, created in partnership with the European Investment Bank to support Europe’s health resilience. The EIB, a long-standing champion of growth and development in Europe, plays a crucial role in implementing InvestEU, which seeks to mobilise EUR 372 billion in additional investments across the EU.
This new initiative highlights the EU’s commitment to protecting its citizens from future health emergencies and ensuring the availability of critical medical solutions when they are most needed.
More information
Details
- Publication date
- 7 October 2024
- Author
- Health Emergency Preparedness and Response Authority