IMM-X (IDFF)

Promoter – Financial Intermediary

IMMUNIC AG

Location

• Germany

Description

The project supports a biotech company to develop a therapeutic solution for severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The eligible investment plan includes research and development (R&D) and related expenses.

Objectives

The proposed transaction will support R&D investments that are required in order to bring a product to the market addressing a high unmet medical need, for the current COVID-19 crisis. By co-investing in the project, the Bank contributes to improving healthcare, whilst also fostering the generation of European scientific knowledge and acumen, preserving and cultivating highly skilled employment opportunities.

Sector(s)

• Services - Professional, scientific and technical activities

Proposed EIB finance (Approximate amount)

EUR 24 million

Total cost (Approximate amount)

EUR 50 million

Environmental aspects

The project mainly concerns investments in R&D 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 the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Full environmental details will be verified during the appraisal.

Procurement

The Promoter is a private company not operating in the utilities sector and not having 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. The Bank's services will verify details during the project due diligence.

Status

Signed - 19/10/2020