The EIB signed a loan agreement with SDS Optic Inc. for up to €10 million to scale up the inPROBE® novel biosensing platform.
inPROBE is a device designed specifically to shorten cancer diagnosis waiting times and increase the precision and effects of advanced cancer treatments.
Backed by the InvestEU programme, the financing will help advance the Polish company’s research and development activities.
The European Investment Bank (EIB) has signed a loan agreement for up to €10 million with SDS Optic Inc., a Polish company based in Lublin trading on the Warsaw Stock Exchange (NC:SDS). The financing will help develop and bring to market inPROBE®, a photonic biosensing platform for cancer diagnosis and monitoring. The research and development supported by the arrangement will advance cutting-edge cancer detection technology. This agreement was made possible with the backing of the InvestEU programme, which aims to trigger more than €372 billion in additional investment over the period 2021-27.
EIB Vice-President Teresa Czerwińska remarked, “Supporting research and innovation is one of the EIB’s priorities, and we are pleased to start this cooperation with SDS Optic, an ambitious Polish company specialising in the development of innovative medical diagnostic devices. EIB financing will enable the company to continue its dynamic growth and develop new technologies that will speed up diagnostic processes for the wider social benefit.”
Commissioner for the Economy Paolo Gentiloni explained, “With this investment backed by the InvestEU programme, we are doubling down on our commitment to improving the quality of life for people affected by cancer. This agreement not only highlights our dedication to advancing healthcare innovation, but also strengthens Europe’s standing at the forefront of advanced health technology and cutting-edge medical devices.”
SDS Optic Inc. develops, produces and markets unique diagnostics and monitoring devices, with a focus on helping healthcare providers perform faster, less painful diagnostics and more targeted treatment procedures. SDS Optic merges molecular biology, advanced photonic technologies, immunochemistry and biomedical engineering, and has developed the first-ever single cell resolution immunoassay for real-time breast cancer diagnosis: the inPROBE® HER2 breast cancer detection device.
“Our vision is to develop innovative cancer diagnostics and monitoring technologies that will help increase the cancer survival rate by 30% by 2030. We strive to achieve that by creating and implementing real-time, in vivo and numerically based photonic technologies. There is no doubt that the financial support from the EIB will significantly accelerate our development and allow us to scale up applications to the market much faster than anticipated. This is further proof of the trust placed in us by this global, renowned institution, following the stringent verification and acceptance of our scientific data and solutions,” said Marcin Staniszewski, CEO of SDS Optic.
The EIB believes that investing in innovation, research and development, and human capital is pivotal for economic development. In 2022, the EU bank’s support for these sectors reached €17.93 billion globally. In the 2018-22 period, support from the EIB Group for these sectors in Poland totalled €4.65 billion.The financing agreement with SDS Optic will support advanced research activities in a less-developed region of the European Union in terms of per-capita income, highlighting the EIB’s commitment to equitable growth and territorial and social cohesion.
The EIB Group is the European Union’s long-term financing institution, owned by the Member States. It comprises the European Investment Bank and the European Investment Fund. The EIB Group finances investments that pursue EU policy goals, including social and territorial cohesion, and the just transition to climate neutrality.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.
SDS Optic Inc. develops, produces and markets unique diagnostics and monitoring tools on a global scale. The company merges vast medical knowledge with technical skills to create disruptive technologies that can revolutionise global healthcare. SDS Optic is developing life-saving innovations that can help medical staff with real-time diagnoses. The company focuses on helping healthcare providers offer faster, less painful diagnostics and supports targeted, effective treatment procedures.
Invented and developed by SDS Optic, inPROBE® is a device designed specifically to reduce cancer diagnostic time (from months to minutes), and increase the precision and effects of advanced cancer treatments. An optical fibre tip just six microns in diameter, covered with specific antibodies, is the basis of the inPROBE® technology. It can be used both in cancer diagnostics and therapies and in real-time drug delivery monitoring, in a natural state (in vivo), making the technology a fast and efficient tool for healthcare professionals.
The Promoter is a medtech company focused on development and commercialization of diagnostic and monitoring cutting-edge technologies, connecting molecular biology with novel photonic technologies, chemistry and biomedical engineering. The Company is developing an innovative In Vivo Photonics Immunoassays platform. Initially the technology is being developed for HER2 breast cancer diagnostics.
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