ELPEN launches Southeastern Europe’s first integrated biotechnology park

The project expands the footprint of Greece’s pharmaceutical industry beyond drug manufacturing, with the aim of creating infrastructure for research, biotechnology, innovation, and the development of new therapies.

Of the total investment, €72 million has been funded through ELPEN’s own capital, while €8 million has been supported through investment incentives and funding provided by the Greek State.

The Athens LifeTech Park forms part of ELPEN’s broader €380 million investment program through 2030 and represents the next step in a strategy the company has pursued for more than six decades, investing in manufacturing and research in Greece.

From Manufacturing to a Biotechnology Ecosystem
ELPEN invests more than 15% of its annual turnover in Research and Development, while its products are exported to more than 90 countries. Through ALTP, the company is seeking to expand this activity into a broader model that connects research with entrepreneurship, financing, and the pharmaceutical industry.

As Prime Minister Kyriakos Mitsotakis noted, the Athens LifeTech Park serves as a “bridge” between Greece and the Greek diaspora, with the aim of creating a dynamic biotechnology ecosystem that will be at the forefront of innovation while generating new professional opportunities.

Theodore Tryfon, CEO of ELPEN and President of the Panhellenic Union of Pharmaceutical Industry, emphasized that the €80 million investment represents one of the biggest risks the company has undertaken.

“We believe that Greece can take the next step: from having a strong pharmaceutical manufacturing base to becoming a country that plays a more active role in research, development, and biotechnological innovation.”

At the same time, he stressed that this ambition requires consistency in policymaking and an environment that encourages productive investment and entrepreneurial risk-taking.