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Signature(s)

Amount
€ 20,000,000
Countries
Sector(s)
France : € 20,000,000
Industry : € 20,000,000
Signature date(s)
30/07/2024 : € 20,000,000
Link to source

Summary sheet

Release date
1 August 2024
Status
Reference
Signed | 30/07/2024
20230781
Project name
Promoter - financial intermediary
FABENTECH (IEU TI HERA)
FABENTECH SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 20 million
EUR 55 million
Location
Sector(s)
Description
Objectives

The operation will finance the promoter's research, development and innovation (RDI) investments related to the manufacturing of novel polyclonal antibodies against potential biothreats and emerging diseases. More specifically, the loan will support the part of the project concerning pandemic preparedness and industrial improvements (Nipah virus with pandemic potential and other costs).

The aim is to enable Fabentech to accelerate its RDI to develop emergency treatments against toxins and pathogens with pandemic/epidemic potential.

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 INVESTEU, benefiting from the EC guarantee, to finance research and development activities of innovative biotech companies. In addition, the operation falls under the eligibility criteria (i) "Pathogens with pandemic or epidemic potential" and (ii) "Chemical, biological, radiological and nuclear (CBRN) threats originating from accidental or deliberate release" of article 3.2 of the HERA Invest Top-Up Annex.

 

The project, if successful, is expected to have significant financial and broader social benefits, in terms of the availability of treatments to counteract viruses with pandemic potential and biothreats. R&D and manufacturing are conducted in Europe, securing supplies for Europe. By supporting the promoter, the EIB enables the generation of European scientific knowledge and acumen and increasing highly skilled employment opportunities.


The financing of this project addresses the failure in financial markets for RDI-driven European SMEs suffering from systemic shortages of financing options for growth investments. Currently, the Company has limited access to financing sources from traditional or alternative debt providers. The financing structure is adjusted to the investment needs of the Company and provides a long tenor. 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 promoter's investments concern research, development and innovation activities that are expected to be carried out in existing facilities already authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under Directive 2011/92/EU. Full environmental details will be verified during appraisal.

The promoter is a private company, not operating in the utilities sector and does not have the status of a contracting authority; thus the project is not covered by the EU directives on procurement. However, the promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. Further details will be assessed during the project due diligence.

Milestone
Under appraisal
Approved
Signed
17 July 2024
30 July 2024
Related projects
Link to source

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) - FABENTECH (IEU TI HERA)
Publication Date
14 Aug 2024
Document language
Main Topic
Lending
Document Number
190745378
Document Focus
Environmental Information
Project Number
20230781
Sector(s)
Regions
Countries
Publicly available
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