ROBOCATH (EGF VD)

Promoteur – Intermédiaire Financier

ROBOCATH SAS

Lieu

• France

Description

Quasi equity financing to Robocath. The financing will be dedicated to the development of the company's robot for cardiovascular interventions.

Additionality and Impact

The project concerns a venture debt operation under the European Guarantee Fund. The purpose of the loan is to provide direct equity-type financing under EIB's Venture Debt Instrument to bridge the liquidity need of the innovative company 'Robocath', an SME based in France, which has been impacted by the Covid-19 pandemic. The company is a small commercial stage research-based MedTech SME, developing robotic solutions for cardiovascular and neurological interventions. The financing of this project addresses the failure in financial markets for RDI-driven SMEs, arising from their limited access to financing as a result of factors such as information asymmetries, misalignment of incentives etc. Creation of knowledge and support of skilled jobs in France will further contribute positively towards the EU's 3% RDI intensity target. Hence, EIBs involvement in this project supports the development of leading-edge timely, accurate and evidence based precision technology with important health benefits, which would otherwise have been significantly delayed due to the Covid-crisis.

Objectifs

The proposed transaction will support research and development (R&D), manufacturing and product development costs for Robocath, a France-based company which develops robotic solutions for cardiovascular and neurological interventions.

Secteur(s)

• Industrie - Industrie manufacturière

Montant BEI envisagé (montant approximatif)

EUR 15 million

Coût total (montant approximatif)

EUR 36 million

Aspects environnementaux

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.

Passation des marchés

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. The Bank's services will verify details during the project due diligence.

Statut

Signé - 29/10/2021