GRFS - Grifols shares rise after Andorra Development and Investment deal

Grifols (GRFS) shares rise 3% during premarket trading after signing an agreement with the government of Andorra through Andorra Development and Investment ((ADI)) to establish a global R+D+i hub to advance knowledge of the human immune system and investigate and develop new immune therapies.The planned facility, which is expected to be completed in 2023, will focus on developing treatments for immune system disorders that can result in diseases including autoimmunity disorders, cancer and emerging infectious diseases.The expected investment is in the range of €25M for the construction of the center and about €7M in annual operating costs to conduct research.Grifols will provide all needed financial support to build the center and develop the project, it said.

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Grifols shares rise after Andorra Development and Investment deal