| Project Detail |
The project concerns the promoters development of a quantum-based platform to transform existing MRIs into metabolic imagers at scale, enabling the early assessment of oncology treatment efficacy.
Additionality and Impact
The project concerns an operation under Invest EU. The project is eligible in line with Annex II of the Regulation as it relates to (5)(g) new and effective and accessible healthcare products. The purpose of the loan is to provide direct, equity-type financing under EIBs Venture Debt Instrument to support Research, Development and Innovation ("RDI") activities of the innovative company "NVision", a medical technology company based in Germany. The financing of this project addresses the failure in financial markets for RDI, arising from limited access to commensurate financing because of factors such as information asymmetries, misalignment of incentives, etc. NVision, thanks to its strong expertise in quantum physics, is developing a novel diagnostic method improving current MRI imaging, which would allow for rapid prediction of oncology treatment response. By creating knowledge externalities, the project is expected to provide significant socio-economic benefits, will strengthen Germany and Europes position in the field of cancer therapies, and will help to create and retain skilled staff engaged in the Companys RDI activities. Thanks to the support of InvestEU, the EIB may provide a flexible long-term financing that limits significant cash outflows in the short to medium term, thereby enabling the company to focus on investing in innovation and growth. By contributing to extending the cash runway of a highly innovative but high-risk early-stage company with no access to commercial debt, the EIB financing is expected to de-risk the project, create a crowd-in signaling effect, and allow the company to accelerate its development. The EIB could not provide such type of financing support, or not to the same extent or at the same quantum, without support from the InvestEU guarantee.
Objectives
The promoter is developing superior diagnostics in the field of oncology by providing information of a tumours metabolic activity. This allows fast adaptation of oncology therapies. As such, this project will improve treatment options for cancer patients, in turn contributing positively to quality of life as well as overall survival.
Sector(s)
Services - Professional, scientific and technical activities
Proposed EIB finance (Approximate amount)
EUR 15 million
Total cost (Approximate amount)
EUR 53 million |
