Galapagos awarded Innovative Enterprise qualification in France
Innovation-focused mutual funds (FCPI) were created by the French 1997 Finance Act in order to support the development of innovative small firms in France. The Act has since been extended and amended to increase the tax benefits gained from holding FCPI units. FCPI funds are subject to approval and audit by the French financial markets authority AMF. Since its inception in 1997, €4.4 billion has been raised by FCPI funds.
"Following the OSEO's rigorous review process, Galapagos has been recognized as the type of innovative company the French government is looking to support and stimulate," said Onno van de Stolpe, Galapagos' CEO. "We are pleased that the acquisition of our French research center in 2006 has brought this additional benefit to the Galapagos Group. Through this qualification, Galapagos is now eligible for investments by FCPI funds, opening the opportunity to a new category of French institutional investors."
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