Nanobiotix signs €40m deal with EIB
A financing agreement with the European Investment Bank will allow the French cancer specialist Nanobiotix to borrow up to €40m through loan – money the company needs to boost its research, development and innovation activities.
The agreement will run for five years and will enable the nanomedicine company to accelerate both the development of NBTXR3 clinical trial in the head and neck cancers indication and to support the European go-to-market strategy.
“Cancer is the second-highest cause of death in the EU and with Europe’s ageing population, fighting cancer will undoubtedly remain a priority in the years to come,” said European Commissioner for Health & Food Safety Vytenis Andriukaitis. “We need to have innovative and dedicated research to always be in search of new treatments. Nanoparticle based cancer treatment research funding is one example of how serious we are in fighting cancer, with the significant support from the EIB to finance research and innovation.”
The transaction with Nanobiotix was made possible by the support of the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, under which the EIB Group and the European Commission aim to act as strategic partners to boost the competitiveness of the European economy. The financing structure has been tailored to Nanobiotix specific needs thanks to the EU guarantee under the Juncker Plan, which key objectives include supporting innovative companies and helping their development in Europe but also to the EIB’s financial expertise in this type of operation.
“This project is a great fit with the Juncker Plan and is very important for European innovation,” emphasised EIB Vice-President Ambroise Fayolle. “Innovation, and support for innovative companies, is what the EU guarantee under the Investment Plan for Europe is about, and financing research into cancer treatment is one of the most rewarding things a Bank can do. The EIB’s mission is to improve people’s lives, I think this is an excellent example of that.”