Home Economy Vaccino ReiThera, that’s why the SA rejected the loan

Vaccino ReiThera, that’s why the SA rejected the loan

Vaccino ReiThera, that's why the SA rejected the loan

Reasons for discontinuing the Italian Covid Reithera vaccine have been presented. Invest in ReiThera Project It cannot include the purchase of the ownership of the company’s operating headquarters, located in Castel Romano, while the expenses for building the packaging plant alone for the Reithera vaccine project will amount to 7.734 million euros and will not reach the minimum of 10 million euros required by the regulations. The reasons for the visa rejection of the Ministry of Economic Development decree that approved the February 2021 agreement, which also included Invitalia and ReiThera, “to support an industrial development program to be implemented in the production plant located in Castel Romano”.

The court states how “this program envisioned an investment project aimed at expanding the existing production plant in Castel Romano and an industrial research and pilot development project aimed at completing the clinical trial (phase II and III clinical trials) of the COVID-19 vaccine antagonist”. However, the relevant section “considered the proposed investment project inconsistent with the condition stipulated in Article 15, Paragraph 1, of the Ministerial Resolution issued on December 9, 2014, according to which expenditures are accepted to the extent necessary for the purposes of the project’s objective. Provided, for general purposes – production or research, also on behalf of third parties – that ReiThera pursues, not even for the general purpose of promoting the consistency of the company’s property rights. ” For accounting judges, the “productive investment project,” in fact, cannot relate to the entire corporate complex but only to certain “production units”.

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