Finland. FinVector Oy
|Date of agreement:||07 Jun 2023|
|Amount in EUR:||EUR 45 million|
The loan has been provided for the construction of a manufacturing facility for advanced medical products in Kuopio, Finland. When the production unit under construction starts its operations, it will primarily focus on the production of a new viral-based gene therapy drug for bladder cancer.
The new production unit has 25,000 square metres of floor space and, in addition to production, storage, laboratory and office spaces. The manufacturing facilities are expected to be completed during 2024.
Viral-based gene therapies have a great potential for the treatment of severe diseases and conditions ranging from cancer treatments to vaccines.
FinVector is a fast-growing and internationally renowned biopharmaceutical company that manufactures viral-based gene therapy products. As a pioneer in this field, FinVector has extensive experience of nearly 30 years in cGMP manufacturing. The company’s operations are centered in Kuopio, Finland, and it employs hundreds of highly qualified professionals from over 40 different countries. FinVector works on cutting-edge biopharmaceuticals and has invested in building state-of-the-art GMP facilities for Viral Vector platforms. FinVector is owned by Ferring Ventures, a subsidiary of Ferring Foundation B.V.
Fulfilment of NIB's mandate
The increased capacity will respond to the growth in bladder cancer drug demand.
In the coming years, FinVector expects to increase its headcount to nearly 500 people, creating numerous new job opportunities in the area. The investment of the company comes with a further increase in high-skill jobs, and further strengthens the knowledge- and research-intensive healthcare ecosystem of the Kuopio and Savilahti area. The company currently employs approximately 380 people. The building plan also has a provision for increasing additional production capacity in the future.
FinVector intends to apply for the LEED environmental certificate for the sustainable development of construction for its new unit. There are plans that the building will have renewable energy solutions, such as solar energy and recovery of waste heat.
NIB assesses that the project will cause no significant negative environmental or social impacts. The site area has previously been undeveloped land and there are no nature protection areas, groundwater protection areas or other sensitive recipients in the vicinity of the site. Since the medicine production in the new manufacturing plant will be identical to the existing operations, the environmental authorities have concluded that the environmental impacts from the project are limited and no renewal of the environmental permit is required. The project is partly aligned with EU taxonomy criteria for new buildings under climate change mitigation.