PolandPoland

Funding for Polish Biotechs Following Lockheed's F-16 Scoop

17.06.2003

Lodz - Polish government officials announced earlier this year that a significant portion of the offset investment package to be raised by the US company Lockheed Martin - as part of a closed defence deal between the Polish government and the company - will be directed to boost modern industries, namely biotechnology and related sectors. Lodz, the second largest city in Poland, has been chosen as a first target for Lockheed's investment. The company offered the University of Lodz a scheme of allocating a $250 million grant and to launch a co-operation with the University of Texas. The Universtiy of Lodz will use the funds in co-management with the Medical University, the Technical University and the Polish Academy of Science.
Two Polish companies BioInfo Bank and BioTech Consulting have introduced a new joint initiative aiming at the creation of a special fund for financing biotechnology projects and promising start up companies. The draft named “BioInfo Fund & Transfer” was submitted to the Polish governmental authorities, represented by the State Offset Committee and the State Commitee for Scientific Research.
Central concepts of the draft are the transfer of modern technologies from the US to Polish pharmaceutical companies and the setup of a biotech incubator at Lodz, based on the existing infrastructure as well as on joint-ventures between Polish and American companies.
In late December Poland named Lockheed as the winner of a three-way tender to suply 48 combat jets in a $3.5 billion deal. Under Polish law reciprocal investments, or “offset” investment, has to be raised by the US company. The offset package is to meet at least 100% of the awarded order. Lockheed proposed more than 100 projects totalling some $9.8 billion thereby out-scoring French Dassault Aviation and the British-Swedish consortium BAE Systems/Saab.

PolandPoland

09.05.2011

Krakow –Polish drug discovery company Selvita has entered into definitive agreements with investors in Poland to sell, in a private placement, 2.7 million shares of its stock at a price of PLN 5.5 per share, resulting in gross...

PolandPoland

06.04.2011

Krakow – Polish drug discovery specialist Selvita S.A. is to carry out virtual compound screening for a protein target provided by the Branford-based Institutes for Pharmaceutical Discovery (IPD) in the US. Selvita said the...

PolandPoland

04.04.2011

Warsaw – Poland’s policy concerning genetically modified organisms (GMOs) has been challenged by the European Commission. In mid-March, the Commission sued Poland at the European Court of Justice (ECJ) for establishing a ban on...

PolandPoland

25.02.2011

Szczecin/Greifswald – In Greifswald, the consensus in mid-March at the “Life Science for Health Economy – Chances and Challenges in Polish-German Cooperation” meeting was that the life sciences would benefit remarkably from...

PolandPoland

06.02.2011

Warsaw – Polish drugmaker Bioton S.A. and Iceland-based generics firm Actavis Group ptc announced in January that they are entering into a marketing and distribution collaboration agreement for Bioton’s insulins and insulin...

PolandPoland

04.11.2010

Warsaw – Merck, Sharp & Dome Polska is to expand its clinical research in the country. The company announced it is investing about US$ 50m in the creation of a data management centre where data from clinical trials conducted in...

PolandPoland

19.09.2010

Warsaw – Polish Agriculture Minister Marek Sawicki has sharply criticised the European Commission’s proposal to let EU member states decide on their own whether or not to plant genetically mod­i­fied crops. “This proposal is not...

PolandPoland

18.09.2010

Krakow – Polish drug developer Selvita sp. z o.o. and Finnish drug and diagnostic firm Orion Corporation (Espoo) have entered into a global collaboration to jointly develop and commercialise Selvita’s oral compound SEL103 as a...

PolandPoland

10.07.2010

Warsaw – While industrial biotechnology companies such as Royal DSM or Novozymes have welcomed new EU climate goals, believing they will provide a kickstart for a bio-based economy, eastern European countries like Bulgaria, the...

PolandPoland

09.07.2010

Kraków/ Espoo – Finland’s Orion Corp and Polish drugmaker Selvita have agreed to collaborate on research and development of Selvita’s oral Alzheimer compound SEL103 program in multiple cognitive disorder indications. According to...

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