Release date: 6 January 2014
Promoter – Financial Intermediary
Norgine BVLocation
Description
The project concerns the promoter’s European based R&D activities, in the fields of gastroenterology and pain management. The promoter has a very healthy late stage product pipeline (five products in phase III and only two in phase I). The evaluation of this pipeline and the promoter’s strategy for its development will be a key part of the appraisal.
Objectives
Financing of Norgine's pharmaceutical research and development from 2012 to 2014.
Comments
The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
EUR 137 million
Environmental aspects
The activities are monitored by the company’s internal control department, to verify compliance with the ISO 14000 standards on environmental management. Competent national authorities and the European Medical Agency (EMEA) frequently inspect the sites concerned by the project to check compliance with the relevant environmental and health regulations.
Procurement
The promoter is a private company, not operating in the Utilities sector and therefore not covered by EU Directives on procurement. Procedures followed are expected to be in the best interest of the project and satisfactory to the Bank. This will be verified during appraisal.
Status
Signed - 13/09/2013