Release date: 4 October 2022
Promoter – Financial Intermediary
AFFIBODY MEDICAL ABLocation
Description
The project consists of the development and modernisation of next generation multi-specifics biologics based products, matching the unmet needs in the immunology and oncology field.
Additionality and Impact
The promoter is a European clinical stage pharmaceutical R&D company specialised in development of next generation biopharmaceuticals based on a proprietary technology, Affibody. In addition to its own R&D capabilities, the promoter has developed a well-established network of collaborations with universities, research institutions and reputed industry partners. Companies producing innovative high quality products are key drivers of economic growth, productivity and social protection, and generally a source of high value added employment. The EIB support to this operation is expected to provide tangible value-added benefit, positively contributing to the promoter's R&D investments by lowering the associated cost of financing and offering loan maturity beyond the tenor usually offered by commercial banks as well as disbursement mechanics more suitable for the project's financing and more flexible than those normally proposed by the market.
Objectives
The loan will finance the much needed research and development (R&D) investments to further advance the promoter's product pipeline and bring the products to the medical market.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 57 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 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, 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 Bank's services will verify details during the project due diligence.
Status
Signed - 22/12/2022
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).