The proceeds will be used to accelerate the development of the leading innovative product NBTXR3 and preparation of access to the European market
Nanobiotix (Euronext: NANO – ISIN: FR0011341205), a pioneering French nanomedicine company developing new therapeutic approaches for the treatment of cancer, reported today that it has received an initial disbursement of EUR 16m from the non-dilutive loan concluded with the European Investment Bank (EIB), which was originally announced on 26 July 2018. The financial partnership, which will ultimately add up to EUR 40m over a period of five years, subject to the achievement of a set of agreed performance criteria, will enable Nanobiotix to accelerate the clinical development of NBTXR3 for the treatment of head and neck cancers and also the preparation of Nanobiotix’s access to the European market.
This first disbursement was announced during the visit of EIB Vice-President Ambroise Fayolle to Nanobiotix’s head office in Paris, in the presence of Deputy Mayor of Paris in charge of higher education, research and student services Marie-Christine Lemardeley, Chairman of Nanobiotix’s Executive Board Laurent Levy and Nanobiotix’s Chief Administrative and Financial Officer Philippe Mauberna.
“The EIB is very pleased to be able to support Nanobiotix with the clinical development of the innovative product NBTXR3 and its market access. This innovation can potentially help to improve cancer treatments,” stated EIB Vice-President Ambroise Fayolle. He added, “Thanks to the Juncker Plan and the EU Guarantee, the EIB has managed to step up its financing operations for medical technology and biotechnology solutions in Europe, and in France in particular. We are providing them with support at a pivotal moment in their development.”
Nanobiotix’s Chief Administrative and Financial Officer Philippe Mauberna also commented, “The initial EUR 16m disbursement was released following the fulfilment of the pre-established performance criteria. As expected, this increase in funds will enable us to ensure the continuity of our global development plan. It is also an opportunity to reiterate our confidence in our teams that are fully dedicated to the preparation and marketing of this product which could potentially benefit millions of patients.”
The financing operation was made possible by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, more commonly knowns as the Juncker Plan, which was initiated by the EIB Group and the European Commission to boost the competitiveness of the European economy. Since its launch, France has been the number one beneficiary of this Plan, with 152 operations approved so far, representing a total financing amount of EUR 11bn. These are expected to mobilise almost EUR 57bn in additional investment.