The Biotom rate shots off after the project was completed

The shares of the biotechnology Bioton increased by over 40%. after the company announced in a press release that it had completed a project co-financed by European funds.

On Monday, after the session ended, Bioton issued a communiqué recognizing the company's key project as completed. The project received this status from the National Center for Research and Development (NCBiR) after positive consideration of the final information and the final payment application.

Project entitled "Development of an innovative technology for the production of short and long-acting insulin analogues used in the treatment of diabetes" was co-financed by the European Regional Development Fund under an agreement with the National Center for Research and Development.

The company's share price reacted with significant increases. In Tuesday's trading, Bioton's stock rose by 41.75 percent. with a turnover of over PLN 9 million.

The patent obtained as part of the project will help the company continue work on the project with Yifan Pharmaceutical, the subject of which is the cooperation of the parties in the development of active substances of insulin analogues from production to commercialization - the release reads.

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