Hungaryʼs Culevit wins HUF 103 mln EU funding for R&D

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Hungary-based Culevit has been awarded a HUF 103 million European Union grant to help a HUF 180 mln research and development project, according to a press statement sent to the Budapest Business Journal on Wednesday.

The company, which makes nutritional supplements for cancer patients, is planning to use the money for R&D supporting the expansion of Culevit products on offer, with the chief aim of meeting the demands of Hungarian patients, the press statement said. The company added that the support will also help provide a basis for the company’s expansion with its products abroad. 

“R&D has been one of the basic pillars of Culevit from the beginning,” said Culevit CEO Dr. László Lex. “R&D is obviously carried out even when we are not supported with grants, but using external sources we can realize our development plans in a shorter time,” the CEO added.

The company posted revenues of HUF 684 million in 2015, Hungarian news agency MTI reported, adding that it employs 22 people.

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