The State with Invitalia focuses on the anti Covid vaccine from Reithera
Invitalia will enter the capital of Reithera to develop the anti Covid-19 vaccine of the Castel Romano company controlled by a Swiss company
The development of the Reithera vaccine can count on new funds. From Invitalia (100% Ministry of Economy), which will enter the capital of the company in Castel Romano, arrive 81 million euros.
A large part of the investment, € 69.3 million, will be allocated to Research & Development activities for the validation and production of the anti-covid vaccine which will begin phase two of the trials in February.
All the details.
THE INVITALIA INVESTMENT
Let's start with the latest news. Invitalia's board of directors approved the development contract presented by Reithera, a biotech company from Castel Romano, ensuring an industrial and research investment of 81 million euros. Invitalia will enter the capital of ReiThera with 30%.
"The concessions granted, in compliance with the rules on state aid, amount to approximately 49 million euros: 41.2 million in grants and 7.8 million in subsidized loans, explains a note from Invitalia, a state holding led by the administrator delegate Domenico Arcuri.
HOW THE FUNDING WILL BE USED
A good 69.3 million, or a large part of the investment, will be allocated to Research & Development activities for the validation and production of the anti-covid vaccine.
THE DEVELOPMENT OF THE VACCINE
The vaccine developed by the Castel Romano company in February will pass to the clinical trial phase of phase 2. Phase 1, also launched thanks to the collaboration with the Spallanzani Institute, testified to the safety and "immunogenicity" of the vaccine ( that would not need the recall).
If the procedures and safety and efficacy tests on the vaccine are successful, phase 2 and phase 3 are expected to conclude in June. Subsequently, the approval procedure by both European and Italian supervisory authorities is envisaged in order to administer the vaccine.
FINANCING
Another funding from the state made phase 1 possible. Reithera received 8 million euros : 5 million from the Lazio Region, transferred to Spallanzani, and 3 million from the Ministry of University and Scientific Research.
Unicredit has also bet on the anti-Covid vaccine of the Italian biotechnology company Reithera, with a loan of 5 million euros.
PRODUCTION
While waiting for new results, production is also being considered. 11.7 million of the Invitalia loan will be used to expand the Castel Romano di Reithera plant, where the antidote will be produced. The company estimates that it will produce 10 million doses per month and work is already underway to reach the goal.
THE WORDS OF ARCURI
The agreement between Invitalia and Reithera “is an important agreement to reduce our country's dependence in a very delicate sector for the protection of the health of our citizens. The Italian production of vaccines will be added to those carried out abroad, strengthening the national response capacity to the pandemic and thus accelerating the exit from the crisis ”, said Arcuri, extraordinary commissioner for the Covid emergency and CEO of Invitalia.
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This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/lo-stato-con-invitalia-punta-sul-vaccino-anti-covid-di-reithera/ on Tue, 26 Jan 2021 14:40:46 +0000.