Hungary - N-Gene Hungary and Mecsek Pharma Receive HUF 1 billion in Funding

N-Gene Hungary and Mecsek Pharma have been approved for HUF 1 billion (US$4.7 million) funding from the Economic Development Program budget, it was announced in August 2009.

N-Gene, a biotech firm, and Mecsek Pharma, an R&D business, are about to start clinical trials of a new diabetes drug, a formula which is the sole intellectual property of N-Gene.

Further reading - A detailed analysis of the Hungarian pharmaceutical market is available from Espicom: The Pharmaceutical Market: Hungary (published June 2009)