| Project Detail |
The project supports the RDI activities by a biotech company to further develop antibodies to be administered intranasally, directly to the nasal mucosa, providing protection against respiratory viral infections, namely influenza A & B and coronaviruses.
Additionality and Impact
The operation contributes to the InvestEU objective of research, development, and innovation (RDI), tackling financial market failures arising from limited access to financing, information asymmetries and misalignment of interest. The purpose of the loan is to provide direct equity-type financing under the EIBs Venture Debt Instrument to support RDI activities of an innovative Dutch biotech company. By creating knowledge externalities, the project is expected to provide significant socio-economic benefits, strengthen the Netherlands and Europes position in the field of mucosal immunity and prophylactic therapies against respiratory viruses, and help create and retain highly skilled employment opportunities. The EIB loan aligns with the companys financing requirement and synchronises the Banks interest with equity investors.
Thanks to the support of InvestEU, the EIB can provide long-term financing to a highly innovative company. By contributing to extending the companys cash runway and supporting its R&D plans, the EIB financing is expected to catalyse third-party investment and help to accelerate the companys development and growth. The project would not have been carried out to the same extent by the EIB without the support of InvestEU.
Objectives
The projects objectives are the development of the promoters mucosal immunity platform and of its prophylactic nasal sprays against respiratory viruses such as influenza and coronaviruses to generate pre-clinical and clinical data.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 72 million |
