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    Signature(s)

    Amount
    € 15,000,000
    Countries
    Sector(s)
    Italy : € 15,000,000
    Industry : € 15,000,000
    Signature date(s)
    6/06/2024 : € 15,000,000
    Link to source

    Summary sheet

    Release date
    8 October 2024
    Status
    Reference
    Signed | 06/06/2024
    20230439
    Project name
    Promoter - financial intermediary
    WISENEURO (IEU TI)
    WISE SRL
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 15 million
    EUR 30 million
    Location
    Sector(s)
    Description
    Objectives

    The promoter is a medical device innovator focusing on neuromonitoring and neuromodulation devices. The project will support investments in research, development and innovation (RDI) to accelerate the advancement and developments of its product portfolio, thereby expanding the promoter's ability to improve patient outcomes.

    The project concerns the development of medical technology for neuromonitoring and neuromodulation to improve treatments and quality of life for patients undergoing brain surgery where neuromonitoring is in use and patients experiencing chronic neuropathic pain that are treated by means of neuromodulation.

    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 the EIB's Venture Debt Instrument to support research, development and innovation activities of the innovative company 'WISE Srl', a medical device company based in Italy. WISE is a medical device company dedicated to developing next generation medical electrodes for neuromonitoring and neuromodulation. By creating knowledge externalities, the project is expected to provide significant socio-economic benefits, will strengthen Italy and Europe's position in the field of medical technologies, and will help to create and retain skilled staff engaged in the Company's RDI activities.

    Thanks to the support of InvestEU, the EIB may provide long term financing in the form of venture debt to a highly innovative but high-risk early-stage company with no access to commercial debt. By contributing to extending the cash runway and therefore to de-risking the development plan of the company, the innovative EIB financing is expected to crowd-in third party investors (such as Venture Capitals, Strategic Investors, Private Equity players, etc.) and allow the company to accelerate its development and form strategic alliances. 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. The Bank's services will verify details during the project due diligence.

    Milestone
    Under appraisal
    Approved
    Signed
    16 April 2024
    6 June 2024
    Related projects
    Link to source
    Summary sheet
    Other links

    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) - WISENEURO (IEU TI)
    Publication Date
    23 Oct 2024
    Document language
    Main Topic
    Lending
    Document Number
    179697779
    Document Focus
    Environmental Information
    Project Number
    20230439
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Other links

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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