Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 10,000,000
Countries
Sector(s)
Poland : € 10,000,000
Industry : € 10,000,000
Signature date(s)
2/10/2023 : € 10,000,000
Link to source

Summary sheet

Release date
18 January 2023
Status
Reference
Signed | 29/09/2023
20220818
Project name
Promoter - financial intermediary
SDS OPTIC (IEU TI)
SDS OPTIC SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 10 million
EUR 22 million
Location
Sector(s)
Description
Objectives

The Promoter is a medtech company focused on development and commercialisation of diagnostic and monitoring cutting-edge technologies, connecting molecular biology with novel photonic technologies, chemistry and biomedical engineering. The Company is developing an innovative In Vivo Photonics Immunoassays platform. Initially the technology is being developed for HER2 breast cancer diagnostics.

The loan will finance the research and development (R&D) investments to further advance the Promoter's product development and scale-up its technology to new indications.

Additionality and Impact

The project is aligned with the InvestEU objective of promoting research, development and innovation. The purpose of the loan is to provide direct equity-type financing under the INVESTEU Thematic, benefiting from the EC guarantee, to finance research and development activities of an innovative medtech company SDS Optic. The project, if successful, is expected to have significant financial and broader social benefits, in terms of improved health and welfare. SDS Optic's expertise lies in connecting molecular biology with novel photonic technologies, chemistry and biomedical engineering to create diagnostic solutions. By supporting the promoter, the EIB enables the generation of European scientific knowledge and acumen, whilst preserving highly skilled employment opportunities. The technology is being first developed for the HER2 breast cancer, with more indications to follow. The financing of this project addresses the failure in financial markets for RDI-driven European SMEs suffering from systemic shortages of large, non-dilutive financing options for growth investments. Creation of knowledge and support of skilled jobs in Poland will further contribute positively towards the EU's 3% RDI intensity target. Currently, the Company does not have access either to non-dilutive or to long-term debt funding sources from traditional or even alternative debt providers. Due to volatility of European markets which has significantly increased since 2022, access to both equity markets and commercial debt providers has been highly limited for innovative but early-stage med tech companies such as SDS Optic. 

The financing structure is adjusted to the investment needs of the Company, with a long tenor and deferred interest, while most of the EIB remuneration will come in a form of warrants, minimising cash outflows. By contributing to extending the cash runway and therefore to de-risking the

development plan of the company, the EIB financing is expected to crowd-in third party investors and allow the company to accelerate its development. The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

Environmental aspects
Procurement

The project concerns investments in research and development activities carried out by the Promoter and its partners in existing facilities without changing their already authorised scope. The research and development activities of the project do not fall under neither Annex I or Annex II of the Environmental Impact Assessment (EIA) EU Directive 2014/52/EU amending 2011/92/EU. Full environmental details will be verified during appraisal.

The Promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus, it is not covered by EU Directives on procurement. However, the promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. The EIB's services will verify details during the project due diligence.

Milestone
Under appraisal
Approved
Signed
8 June 2023
29 September 2023
Related projects
Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - SDS OPTIC (IEU TI)
Publication Date
13 Jun 2023
Document language
Main Topic
Lending
Document Number
165119338
Document Focus
Environmental Information
Project Number
20220818
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications