UAB Memel Biotech implements project „DYRK1 kinase inhibitors for the treatment of Type 1 and Type 2 Diabetes Mellitus”, Nr. 01.2.1-LVPA-K-823-03-0009. The project is funded by the European Regional Development Fund, under 2014-2020 European Union funds investment action program of priority 1 “Promotion of scientific research, experimental development and innovation” measure no. 01.2.1-LVPA-K-823 ,,SmartInvest LT+”.

The aim of the project is to increase the innovative potential of the company by carrying out scientific research and experimental development, creating new products in the field of smart specialization and attracting foreign investments.

The start of the implementation of the project activities is in 2022 May, end – August 2023. The project budget is 3 877 746, 17 EUR, from which – 2 356 316,22 EUR is funded by European Regional Development Fund.

The public institution Innovation Agency, guided by the progress measure ‘Establishing a coherent system for promoting innovation,’ and ‘Promote international networking for SMEs, engagement in MTEPI partnership networks’. The company will be allocated funding of 19 242 EUR from total project value of 22 638 EUR for the implementation of Project No. 02-017-K-0023 ‘Promotion of international networking and engagement in MTEPI partnership networks for UAB Memel Biotech.’

Main aim of this project – UAB Memel Biotech is looking for new ways increase experimental development, innovations and new partnerships in the field of EU research.

This project is co-financed by the European Union and will be implemented in the Company from 2023 August to 2025 January.