For the construction of the first gene therapy center in the Baltic States – 37 million. euro loan – MadeinVilnius.lt

Northern Investment Bank (NIB), Citadele Bank and Lithuanian biopharmaceutical company Celltechna UAB signed a 37 million. EUR ten-year agreement on a loan for a gene therapy product manufacturing company in Vilnius. The part financed by NIB is 22.5 million. EUR, and “Citadele” Bank – 14.5 million. euros.

The new gene therapy center will be the first and so far the only facility of its kind in the Baltic States. It will be equipped with research and manufacturing infrastructure to help develop treatments for genetic diseases.

The center, which will be located in a building of approximately 8,000 square meters, plans to create more than 100 new valuable jobs. It will further strengthen the Lithuanian life sciences sector, which has recently been growing perhaps the fastest in the European Union.

“By providing financing, we support the strategic development of Lithuania’s priority sector,” says Jeanette Vitasp, vice president of NIB and head of the loan department. “This project will not only increase the country’s competitiveness in a rapidly developing field, but also provide great growth potential for the entire region.”

“We appreciate the opportunity to contribute to strengthening the leadership of the Lithuanian biotechnology and life sciences sector. Such strategic projects help to create an economy that is more resistant to future challenges and promote consistent development of the country,” says Vaidas Žagūnis, member of the board of Citadele bank and head of the Business Banking Department for the Baltic countries.

The new center will expand the company’s product offering from biopharmaceutical preparations to gene therapy and will lay a solid foundation for the implementation of the ambitious long-term vision of “BIO CITY”. In the coming years, more biotechnology-related factories and scientific research centers are planned to be established on the plot next to the Molėtai highway, thus consolidating life sciences knowledge in one place.

“We appreciate the trust and financial loan provided by NIB and Citadele Bank for the development of the first gene therapy center in the Baltic States, which is one of the key parts of the BIO CITY project of the Northway group of companies. The completion of this center this year represents a huge step in our plans to establish Europe’s largest biotechnology city in Vilnius,” says Celltechna CEO Prof. Vladas Algirdas Bumelis.

Currently, the life sciences industry generates about 2.5 percent. GDP of Lithuania. The long-term strategy approved by the government extends to 2030. increase this part to 5 percent.

The borrower UAB “Celltechna” provides drug development and production services to pharmaceutical companies in Europe and the USA. The guarantor UAB Biotechpharma is a related company that provides services to pharmaceutical research companies developing new drugs.