| Project Detail |
The promoter is a medical device innovator focusing on neuromonitoring and neuromodulation devices. The project will support investments in research, development and innovation (RDI) to accelerate the advancement and developments of its product portfolio, thereby expanding the promoters ability to improve patient outcomes.
Additionality and Impact
The Operation contributes to the InvestEU objective of research, development and innovation. The purpose of the loan is to provide direct, equity-type financing under the EIBs Venture Debt Instrument to support research, development and innovation activities of the innovative company WISE Srl, a medical device company based in Italy. WISE is a medical device company dedicated to developing next generation medical electrodes for neuromonitoring and neuromodulation. By creating knowledge externalities, the project is expected to provide significant socio-economic benefits, will strengthen Italy and Europes position in the field of medical technologies, 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 long term financing in the form of venture debt to a highly innovative but high-risk early-stage company with no access to commercial debt. By contributing to extending the cash runway and therefore to de-risking the development plan of the company, the innovative EIB financing is expected to crowd-in third party investors (such as Venture Capitals, Strategic Investors, Private Equity players, etc.) and allow the company to accelerate its development and form strategic alliances. The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.
Objectives
The project concerns the development of medical technology for neuromonitoring and neuromodulation to improve treatments and quality of life for patients undergoing brain surgery where neuromonitoring is in use and patients experiencing chronic neuropathic pain that are treated by means of neuromodulation.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 15 million
Total cost (Approximate amount)
EUR 30 million |
