Supporting Industrial R&D
Milan - A research grant of Euro7.3 million from the Italian Research Ministry (Minis-tero dell'Istruzione dell'Universita e della Ricerca - MIUR) was awarded to the Milan-based private biopharmaceutical company BioXell S.p.A.
The funding will support new research into treatments against inflammatory diseases, and further strengthen BioXell's ongoing activity in this field.
MIUR grants are intended to accelerate the development of innovative technologies and products for start-ups or newly established R&D companies. Funds are awarded on the basis of the scientific, technical and economic merit of each proposal. BioXell had applied for funding in order to finance an internal research programme aimed at identifying new therapeutic agents for the treatment of inflammatory diseases.
The research grant awarded to BioXell will be given over a three year period with 33 percent being non-repayable and 66 percent repayable at a 0.5 percent interest rate within ten years time.