FINLAND — The Nordic Investment Bank (NIB) has partnered with Finnish biopharmaceutical company FinVector Oy, a Ferring Ventures subsidiary, to provide a EUR 45 million (US$48.4 million) loan for the establishment of a new viral-based gene therapy drug production unit in Kuopio, Finland.
This investment is a testament to FinVector’s long-term commitment to the development and manufacturing of gene therapy-based medicines within the country.
NIB, an internationally recognized financial institution, is owned by eight member countries in the Nordic and Baltic regions.
With its AAA/Aaa credit rating from leading agencies like Standard & Poor’s and Moody’s, NIB offers financial support to both private and public projects across member and non-member countries.
The new production unit in Kuopio will primarily focus on manufacturing a viral-based gene therapy drug for the treatment of bladder cancer.
FinVector aims to maintain its position as a trailblazer in the development and production of precision medicines.
Viral-based gene therapies hold immense promise for the treatment of severe diseases and conditions, ranging from cancer therapies to vaccines.
The company recently obtained approval from the U.S. Food and Drug Administration to scale up its manufacturing process.
André Küüsvek, NIB President and CEO, expressed the bank’s support for FinVector in expanding its production capacity to deliver effective cancer treatments to a larger number of patients.
Matthias Krieger, Managing Director of FinVector, emphasized the significance of the funding provided by NIB for the construction of their state-of-the-art pharmaceutical factory in Kuopio, particularly in addressing the needs of patients with bladder cancer.
The new production unit, expected to commence operations in 2024, will be constructed near FinVector’s existing premises in Kuopio’s Savilahti area.
Spanning four stories and covering a total floor space of 25,000 square meters, the unit has been designed to accommodate potential future increases in production capacity.
The facility will incorporate sustainable energy solutions, such as solar energy utilization and waste heat recovery, while also pursuing the LEED environmental certificate for its environmentally conscious construction.
This investment is not only significant for FinVector but also for the city of Kuopio. The company anticipates a substantial increase in its workforce, with nearly 500 employees expected in the coming years.
This expansion will contribute to the growth of high-skill job opportunities and further enhance the knowledge- and research-intensive healthcare ecosystem in the Kuopio and Savilahti region.
FinVector collaborates closely with the University of Eastern Finland, Kuopio University Hospital, and the Kuopio Center for Gene and Cell Therapy (KCT).
As a fast-growing and globally recognized biopharmaceutical company, FinVector specializes in the manufacture of viral-based gene therapy products.
With almost three decades of experience in cGMP manufacturing, the company’s operations are centered in Kuopio, Finland, employing hundreds of highly qualified professionals from diverse backgrounds.
FinVector’s focus on cutting-edge biopharmaceuticals has led to significant investments in state-of-the-art GMP facilities for viral vector platforms.
The company is owned by Ferring Ventures, a subsidiary of Ferring Foundation B.V.
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