AKKERMANSIA (IEU LS)

Promoter – Financial Intermediary

THE AKKERMANSIA COMPANY SA

Location

• Belgium

Description

The project covers research, development and innovation activities (RDI), including clinical trials), RDI management as well as the early commercialisation expenses of the borrower, aiming at exploiting the unique properties of Akkermansia muciniphila, a bacteria that prevents and reverses leaky gut, a root cause of many health conditions.

Additionality and Impact

The Operation contributes to the InvestEU objective of research, development and innovation. The purpose of the loan is to provide direct, equity-type financing under EIB's Venture Debt Instrument to support research, development and innovation activities of the innovative company "The Akkermansia Company", a microbiome based company based in Belgium. 

 

The Akkermansia Company is a spin out from Wageningen University (NL) and UCLouvain (BE), developing and commercializing food supplements to address various health issues, such as metabolic syndrome, irritable bowel syndrome or overweight, based on the unique properties of the intestinal symbiont Akkermansia muciniphila. This bacterium and its unique properties has been discovered and studied by the Company's co-founders and their teams since 2004.

 

The research and development project is expected to generate additional clinical evidence, help the Company to further improve its manufacturing process, and help it succeed its upcoming commercial launches. 

 

Thanks to the support of InvestEU, the EIB may provide long term financing in the form of venture debt to an innovative but high-risk early commercial-stage company with no access to commercial debt. By providing additional financing and therefore de-risking the development plan of the company, the innovative EIB financing is expected to allow the company to accelerate its development and potentially form strategic alliances. The project would not have been carried out to the same extent by the EIB without the InvestEU support.

Objectives

The project objectives are to generate data on the efficacy of Akkermansia muciniphila, optimise manufacturing processes and support early commercialisation activities.

Sector(s)

• Industry - Manufacturing
• Services - Professional, scientific and technical activities

Proposed EIB finance (Approximate amount)

EUR 20 million

Total cost (Approximate amount)

EUR 42 million

Environmental aspects

The project concerns investment in research and development which are not listed in Annex I nor Annex II of the EU Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by Directive 2014/52/EU. The promoter's RDI activities are expected to be carried out in existing facilities already authorised for the same purpose.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.

Status

Signed - 4/12/2023