The Biomedical Research Foundation of the Academy of Athens has accepted four out of five bids to proceed to the second stage of the tender for the development of its Institute for Biomedical Research. 

The consortium companies of AVAX, Intrakat, AKTOR Concessions and GEK TERNA are approved for the next phase while the ERETVO - EKTER was excluded. They will now participate in the competitive dialogue in order to formulate the tender documents. The submission for the final bid is expected to be done in 2021.

The project, with an investment of about EUR71.8 million (US$79.63 million), involves design, manufacture, financing, maintenance, operation, and supply of equipment for the construction of a Personalized Medical Services Building in Athens for the provision of specialized services in the field of personalized medicine. The new facilities will house a state-of-the-art laboratory that meets high-tech specifications, in the area totaling 23,000 m². The project includes the renovation of the Loverdeion building, in order to create a unit for clinical trials of generic drugs.