Instituto de Crédito Oficial

Instituto de Crédito Oficial (ICO) is a Spanish public-sector bank and the country's national promotional bank, operating under the Ministry of Economy, Commerce and Business. While not a life sciences company itself, ICO is a critical financier for the Spanish healthcare, biotech, and pharmaceutical sectors through specialized credit lines and venture capital investments. Through its subsidiary, AXIS Participaciones Empresariales, ICO manages funds like Fond-ICO Next, which frequently invests in high-tech and health-related startups to foster innovation. The institution also facilitates internationalization for Spanish medical companies and acts as an intermediary for European Investment Bank (EIB) funds within Spain.