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

12.05.2010

Warsaw – Polish biotech firm Bioton SA wants to expand its business to Asia. At the end of April, the producer of recombinant insulin announced that it plans to issue convertible bonds worth EUR26m to fund an expansion of its...

PolandPoland

08.03.2010

Warsaw – Polish tissue-engineering specialist Euroimplant S.A. has received permission to build a new research and production facility in Klaudyn near Warsaw. The company said it is currently in talks with several investors who...

PolandPoland

01.02.2010

Warsaw – Polish pharmaceutical firm Polpharma has sought approval for its acquisition of parts of Polish blue-chip Bioton S.A. Polpharma made the bid on the last day of 2009. The case is pending. In November 2009, Bioton signed a...

PolandPoland

01.02.2010

Warsaw – Researchers at the Polish Academy of Sciences have shed new light on how plants adapt their flowering to climate. According to the team under Szymon Swiezewsk (Nature 462, 799-802), the plants use a kind of cold sensor...

PolandPoland

09.11.2009

Warsaw – Janusz Guy, chief executive of Polish insulin manufacturer Bioton SA, has stepped down shortly before the firm is due to present its Q3 results. He will be replaced by Slawomir Ziegert, who joined Bioton from competitor...

PolandPoland

20.09.2009

Warsaw – Polish insulin, antibiotics, and biosimilar producer Bioton SA has doubled its second-quarter net loss to PLN39m (–EUR9.3m) because sales fell by 8% in the period from April to June. The company, which is restructuring...

PolandPoland

19.09.2009

Kraków – The Polish biotechnology market has been shrinking in the last two years, according to a report just released by the Kraków-based consultancy PMR. Polish biotech industry sales fell by 2% in 2008 to PLN607m (EUR173m)...

PolandPoland

21.07.2009

Warsaw - Poland has violated its obligation towards the EU in regard to GMOs, the European Court of Justice has declared in Luxembourg. Poland, which is fighting to become a GMO free country, had been in dispute with the European...

PolandPoland

11.07.2009

Warsaw – Polish insulin maker Bioton has bounced back. After incurring a $6m loss in the first quarter of this year, (see Eurobio­techNews 5-6/2009), the company announced at the beginning of July that it was issuing €11.5m in...

PolandPoland

10.07.2009

Warsaw – Polish insulin maker Bioton SA has bounced back. After incurring a $6m loss in the first quarter of this year the company announced yesterday that it has signed an exclusive supply and distribution agreement with German...

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