Release date: 13 December 2016
Promoter – Financial Intermediary
ALK-ABELLO A/SLocation
Description
Financing of ALK-Abello's market-leading research into allergic diseases. ALK is the world leader in allergy immunotherapy. The treatment is recognised by the World Health Organisation (WHO) as the only treatment that targets the cause of allergy and alters the natural course of the disease. The financing is expected to materially support the company's efforts in this domain.
Objectives
The project would consist of the promoter's research and development (R&D) activities from 2017 to 2019, related to research, development and life-cycle management of new, evidence-based immunotherapy drugs covering major respiratory allergies – house dust mite, grass pollen, tree pollen, ragweed pollen, and Japanese cedar pollen – further documenting the drug benefits in asthma treatment and asthma prevention, a disease associated with high unmet medical needs and market opportunities.
Comments
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Sector(s)
Proposed EIB finance (Approximate amount)
EUR 60 million
Total cost (Approximate amount)
EUR 149 million
Environmental aspects
R&D activities included in the project will not materially change current R&D practice and will be carried out within 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 the appraisal.
Procurement
The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having the status of a contracting entity, thus not subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the Official Journal of the EU, as and where required.
Status
Signed - 13/12/2016
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).