Grifols and Andorran government will establish world-class immunology research hub to expand global knowledge of the immune system and develop therapeutics
Grifols has partnered with the government of Andorra to create the Pyrenees Immunology Research Center (PYIRC), a modern facility aimed at advancing immunology research and therapy development. The center, set to open in 2023, will focus on immune system disorders, such as autoimmunity and cancer, and will attract international experts. Grifols will own 80% of the joint venture and invest approximately €25 million in construction, with €7 million in annual operating costs. This initiative aligns with Andorra's economic diversification goals in biotechnology and innovation.
- Establishment of the Pyrenees Immunology Research Center (PYIRC) to advance immunology research.
- Expected investment of €25 million for construction and €7 million annually for research.
- Grifols to own 80% of the joint venture, granting majority control over the board.
- None.
BARCELONA, Spain, April 28, 2021 /PRNewswire/ -- Grifols (MCE: GRF, MCE: GRF.P, and NASDAQ: GRFS), a leading global producer of plasma-derived medicines with a history of more than 110 years contributing to improve the health and well-being of people, today announced it has signed an agreement with the government of Andorra through Andorra Development and Investment (ADI) to establish a global R+D+i hub to advance knowledge of the human immune system and investigate and develop new immune therapies.
The planned facility, the Pyrenees Immunology Research Center (PYIRC), will focus on developing treatments for immune system disorders that can result in diseases including autoimmunity disorders, cancer and emerging infectious diseases. It will also host and sponsor conferences, symposiums and educational programming on the subject matter as well as promote broader awareness of immunological pathologies.
When completed in 2023, this center will be one of only a few in Europe dedicated to immunology and is expected to attract international multidisciplinary scientists and technicians distinguished for their translational and clinical expertise. Their immunology research will also include collaborations with teams from other leading global research institutions.
To be located in the Andorran Pyrenees, the immunology research hub will be designed by Grifols Engineering and Grifols Innovation and New Technologies (GIANT), which have vast experience in creating advanced facilities for healthcare research and manufacturing. Best practices in environmentally respectful design and construction, including materials, will harmonize the campus with the natural surroundings. Efficient use of energy and water as well as leading technologies will also help ensure a sustainable footprint. From the outset, the objective is to secure the prestigious LEED certification (Leadership in Energy and Environmental Design).
Grifols, which has a growing research presence globally that involves more than 1,200 people dedicated to R+D+i in 10 centers, will draw on its deep-seated scientific expertise and laboratory management skills to run the new research center, which will be equipped with cutting-edge facilities and systems, including the latest bioinformatics and data analytical tools.
"Grifols is very pleased to build a world-class immunology R+D+i facility in Southern Europe in the green and inspirational environment of the Andorran Pyrenees. The center is destined to become an international hub to advance knowledge of the immune system and develop therapeutics to enhance people's health and quality of life," said Víctor Grifols Deu, coCEO of Grifols.
"The government of Andorra considers this initiative to be extremely positive, especially heading into the post-pandemic environment and as a response to the objectives included in the government's roadmap to diversify the economy, strengthening its commitment to priority sectors such as biotechnology, research, technological advancement, innovation, attracting talent and developing high value-added activities," said Xavier Espot, head of the government of Andorra.
Pending the relevant authorizations, Grifols, through GIANT, will own
Under the agreement and in alignment with the ownership structure, Grifols will have a majority of the new incorporated entity's board of directors, with the remaining seats corresponding to the government of Andorra. The expected investment is in the range of
Grifols retained Osborne Clarke Spain, S.L.P as legal advisors.
About Grifols
Grifols is a global healthcare company founded in Barcelona in 1909 committed to improving the health and well-being of people around the world. Its four divisions – Bioscience, Diagnostic, Hospital and Bio Supplies – develop, produce and market innovative solutions and services that are sold in more than 100 countries.
Pioneers in the plasma industry, Grifols operates a growing network of donation centers worldwide. It transforms collected plasma into essential medicines to treat chronic, rare and, at times, life-threatening conditions. As a recognized leader in transfusion medicine, Grifols also offers a comprehensive portfolio of solutions designed to enhance safety from donation to transfusion. In addition, the company supplies tools, information and services that enable hospitals, pharmacies and healthcare professionals to efficiently deliver expert medical care.
Grifols, with nearly 24,000 employees in more than 30 countries and regions, is committed to a sustainable business model that sets the standard for continuous innovation, quality, safety and ethical leadership.
In 2020, Grifols' economic impact in its core countries of operation was EUR 7.5 billion. The company also generated 140,000 jobs, including indirect and induced.
The company's class A shares are listed on the Spanish Stock Exchange, where they are part of the Ibex35 (MCE:GRF). Grifols non-voting class B shares are listed on the Mercado Continuo (MCE:GRF.P) and on the U.S. NASDAQ through ADRs (NASDAQ:GRFS).
For more information, please visit www.grifols.com
About Andorra Development and Investment
Andorra Development and Investment (ADI) is the economic promotion agency belonging to the government of Andorra. Its mission is to diversify and modernize the Andorran economy. Internationally, the ADI's objectives include positioning and promoting Andorra as an open, modern, and attractive economy for foreign investment, in addition to welcoming and helping foreign investment get established. With respect to national efforts, ADI works to support Andorran businesses that want to grow and become international. For more information, please visit www.govern.ad or www.actua.ad.
LEGAL DISCLAIMER
The facts and figures contained in this report that do not refer to historical data are "future projections and assumptions". Words and expressions such as "believe", "hope", "anticipate", "predict", "expect", "intend", "should", "will seek to achieve", "it is estimated", "future" and similar expressions, insofar as they relate to the Grifols group, are used to identify future projections and assumptions. These expressions reflect the assumptions, hypotheses, expectations and predictions of the management team at the time of writing this report, and these are subject to a number of factors that mean that the actual results may be materially different. The future results of the Grifols group could be affected by events relating to its own activities, such as a shortage of supplies of raw materials for the manufacture of its products, the appearance of competitor products on the market, or changes to the regulatory framework of the markets in which it operates, among others. At the date of compiling this report, the Grifols group has adopted the necessary measures to mitigate the potential impact of these events. Grifols, S.A. does not accept any obligation to publicly report, revise or update future projections or assumptions to adapt them to events or circumstances subsequent to the date of writing this report, except where expressly required by the applicable legislation. This document does not constitute an offer or invitation to buy or subscribe shares in accordance with the provisions of the following Spanish legislation: Royal Legislative Decree 4/2015, of 23 October, approving recast text of Securities Market Law; Royal Decree Law 5/2005, of 11 March and/or Royal Decree 1310/2005, of 4 November, and any regulations developing this legislation. In addition, this document does not constitute an offer of purchase, sale or exchange, or a request for an offer of purchase, sale or exchange of securities, or a request for any vote or approval in any other jurisdiction. The information included in this document has not been verified nor reviewed by the external auditors of the Grifols group
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SOURCE Grifols, SA
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