Link Securities| In a Significant Event sent to the National Securities Market Commission (CNMV) by the company, the pharmaceutical company Laboratorios Rovi (ROVI) announced that it has reached an agreement with Insud Pharma and Innvierte Economía Sostenible, dependent on the Ministry of Science, for the constitution of a commercial company with public-private capital dedicated to the research and development of advanced therapies. The agreement, which was approved on Tuesday by the Council of Ministers, is part of the Strategic Project for Economic Recovery and Transformation (PERTE) for Cutting-Edge Health promoted by the Spanish Government, which envisages the creation of a public-private investment vehicle for the development of medicines, therapies and advanced, innovative or emerging technologies.
The share capital of this new entity will be owned 49% by the Ministry of Science, Innovation and Universities through the company Innvierte and 25.5% each by Insud Pharma and Laboratorios Rovi. The partners undertake to make an initial joint contribution of €74,867,346.94.
According to Rovi, the investment will be made depending on the needs of the projects to be developed in the future and will be subject to the approval by the partners of the appropriate business plan, and may reach €220 million, which will be contributed by the public and private investors involved. Innvierte’s contributions can be made with European Next Generation EU funds, including the European Union’s Resilience and Recovery Mechanism.
