NANOBIOTIX, a late clinical-stage nanomedicine company pioneering new approaches in the treatment of cancer, announced that the Company launched a non-dilutive financial partnership with the European Investment Bank (EIB) to boost its research, development and innovation activities.
The financing agreement will allow the Company to borrow up to 40 M€ through loan over the coming five years subject to achieving a set of agreed performance criteria.
This financing agreement will enable Nanobiotix 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.
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.”
Philippe Mauberna, CFO Nanobiotix, added: “We are pleased to have the European Investment Bank on board as a new financing partner. This loan will significantly enhance our financial visibility without diluting our shareholders in the medium term. This new partnership is another value recognition of the product the Company wants to bring to the market to help millions of cancer patients.”
Original source: EIB
Published on 26 July 2018
