| Project Detail |
The Promoter is a clinical-stage biotechnology company focusing on the development of large-scale production processes of human milk oligosaccharides (HMOs) - complex nutrients which are found in human milk. Additionality and Impact The purpose of the loan is to provide direct equity-type financing under the EIBs Venture Debt Instrument to bridge the liquidity need of the innovative company Inbiose, an SME based in Belgium, which has been impacted by the Covid-19 pandemic. The Company is a small commercial stage biotechnology SME, focusing on the development of large-scale production processes of human milk oligosaccharides (HMOs) to produce complex carbohydrates in a cost-efficient way, addressing needs in industrial scales of novel food ingredients for markets such as infant formula, dietary supplements, medical nutrition and beverages. The financing of this project addresses the failure in financial markets for RDI-driven SMEs, arising from their limited access to financing as a result of factors such as information asymmetries, misalignment of incentives etc. Creation of knowledge and support of skilled jobs in Belgium will further contribute positively towards the EUs 3% RDI intensity target. Hence, the EIBs involvement in this project supports the development of products with important health benefits, which would otherwise have been significantly delayed due to the Covid crisis. The financing structure is adjusted to the investment needs of the Company, with a long tenor and partially deferred interest, minimising cash outflows. Objectives The Promoter is an industrial biotechnology company focusing on the development of large-scale production processes of human milk oligosaccharides (HMOs) - complex sugars which are found in human milk. |
