The EIB has awarded Estonian CDMO Icosagen €18 million, supporting the financing of a 1,600 m2 production facility.

Dan Stanton, Managing editor

February 17, 2023

2 Min Read
Icosagen: EIB loan to support CDMO’s mammalian plant buildout
Image: DepositPhotos/ Furian

The European Investment Bank has awarded Estonian CDMO Icosagen €18 million ($19 million), supporting the financing of a 1,600 m2 production facility.

The €18 million will form part of a total of €40 million being invested into contract development and manufacturing organization (CDMO) Icosagen’s R&D capabilities and a clinical-scale good manufacturing practice (GMP) plant in Tartu, Estonia.

The 1,600 m2 facility is scheduled to be project-ready in Q1 2024 and will include a 400 m2 cleanroom equipped with single-use bioreactors up to 1,000 L in scale, supplied by MilliporeSigma. Downstream equipment – also part of MilliporeSigma’s Mobius range – will be capable of processing kg-amounts of product, suitable for Phase I and II clinical trials.

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Image: DepositPhotos/
Furian

““We have steadily been working towards this important milestone for a long time,” said Icosagen CEO Mart Ustav. “Developing novel technologies and workflows will help increase our competitiveness in providing contract research and development service to our clients in Europe and other regions of the world.

“The cGMP facility will provide further state-of-the-art training and employment opportunities for local and regional scientists and, at the same time, expand the capabilities and impact of the European biopharmaceutical drug production industry. We are very grateful to the EIB for their crucial support in this endeavor.”

Thomas Östros, EIB vice-president, added: “The biopharmaceutical industry is expected to grow significantly in the future, based on superior efficacy and safety of biologics compared to small molecules, as well as increasing adoption for the treatment of chronic diseases. We at the EIB are proud to support this industry’s growth.

“By providing financing to Icosagen, an innovative and fast-growing company, we will enable it to provide its clients with a more complete range of services and products in the field of biologics in Europe and beyond.”

About the Author(s)

Dan Stanton

Managing editor

Journalist covering the international biopharmaceutical manufacturing and processing industries.


Founder and editor of Bioprocess Insider, a daily news offshoot of publication Bioprocess International, with expertise in the pharmaceutical and healthcare sectors, in particular, the following niches: CROs, CDMOs, M&A, IPOs, biotech, bioprocessing methods and equipment, drug delivery, regulatory affairs and business development.


From London, UK originally but currently based in Montpellier, France through a round-a-bout adventure that has seen me live and work in Leeds (UK), London, New Zealand, and China.

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