The European Investment Bank and Barcelona-based pharmaceutical company Grifols have signed a €85 million loan for the company’s research, development, and innovation project.

The initiatives covered by the plan identify new treatments for rare and chronic diseases with the support of the European Fund for Strategic Investments.

The latest loan is the third time since 2015 that the Juncker Plan has supported Grifols’ research and development activities.

“I’m pleased to see that EFSI is still funding more investments for R&D and innovation in the health sector. This loan has at least three beneficial aspects: new therapies for patients with rare diseases, a big boost to R&D and, finally, an investment in highly skilled jobs,” according to the EU’s Health and Food Safety Commissioner Vytenis Andriukaitis.