EIB Provides Funding to Jennewein
RHEINBREITBACH, Germany, July 24, 2018 /PRNewswire/ --
The European Investment Bank (EIB) provides new financing of EUR 15 million to Jennewein Biotechnologie GmbH, a highly innovative German company that offers a breakthrough technology for the production of rare functional sugars for a wide range of applications, including nutritional, pharmaceutical and cosmetic products. The Company is also a leading manufacturer of human milk oligosaccharides (HMOs), which form an essential part of human mother milk and have been shown to have beneficial health impacts.
The EU bank's loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI). EFSI is an essential pillar of the Investment Plan for Europe - also known as the Juncker Plan - under which the EIB and the European Commission are working together as strategic partners and the EIB's financing operations are boosting the competitiveness of the European economy.
The President of the European Investment Bank, Werner Hoyer, stated: "The EU bank supports in Europe many activities which by nature are riskier and therefore often face difficulties in accessing finance. We, as the EU bank, can provide these funds to address the needs of small and innovative companies, as we are backed by the European Fund for Strategic Investments. This clearly demonstrates the added value that the Juncker-Plan brings to the European economy to foster growth and jobs."
Jennewein will use the new financing to build a R&D centre to continue increasing its HMO's product portfolio. It also will upscale its production capacity. Stefan Jennewein, founder and CEO of Jennewein, emphasised that being on a new and very innovative market, commercial banks were not prone to invest in his business while the EIB was there to make sure his development plans come true. "With this loan the European Investment Bank has given us her trust and the chance to conquer furthermore the market of human milk oligosaccharides. With the help of the EIB we can invest in the future, it means in our production and a new R&D research center," says Stefan Jennewein on the occasion of signing the contract in Rheinbreitbach.
European Commissioner Vytenis Andriukaitis said: "As the EU Commissioner for Health and Food Safety and a former doctor, I know the positive impact that research, innovation, including in biotechnology, can have on our nutrition and good health, particularly those of infants and young children. I am happy to see that the Investment Plan for Europe is really working and boosts research and innovation for the health of EU citizens."
European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
About Jennewein
Jennewein Biotechnologie is a leading international industrial biotechnology company with a range of products in the field of complex oligosaccharides (HMOs) and rare monosaccharides. The company manufactures an extensive portfolio of innovative HMO products, such as 2′-fucosyllactose, 3′-fucosyllactose and lacto-N-tetraose. These rare sugars are used in the food industry (particularly infant milk formulas), the pharmaceutical industry, and the cosmetic industry. In 2015, the US Food and Drug Administration (FDA) granted Jennewein Biotechnologie a license to market 2′-fucosyllactose in the USA. This was followed in 2017 by European Union marketing authorisation under the Novel Food Regulation.
Contact: Dr. Bettina Gutiérrez, [email protected] , Tel.: +49(0)2224-919-7346
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