This novel coronavirus situation is very severe. All the companies in our field need to act rapidly. We need rapid diagnostic tools to detect the novel coronavirus, and we are taking part in that fight.
Summary sheet
The project consists of the financing of Mobidiag, an innovative medtech company based in Finland. This financing will help Mobidiag to develop new diagnostic tests for infectious diseases.
The proposed transaction will support research and development (R&D) investments that are required in order to further advance the promoter's product pipeline and bring the products to market.
The project mainly concerns investments in R&D that are expected to be carried out in existing facilities already authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under the Directive 2011/92/EU. Full environmental details will be verified during the appraisal.
The promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus, it is not covered by EU Directives on procurement. However, the promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. The Bank's services will verify details during the project due diligence.
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).
Documents
News & Stories
Inside the project
How and Why
Testing and screening
Why
- The coronavirus pandemic has created a need for fast, reliable, large-scale testing solutions that could be operated also by people without training in diagnostics
- The field of diagnostics will be critical in the fight against pandemics like the coronavirus and in the future.
How
- Mobidiag offers a comprehensive range of fast, reliable and cost-effective molecular diagnostic solutions for the detection of most clinically relevant bacteria, parasites, viruses and antibiotic resistances
- The EIB financing supports the development of two testing machines for the rapid molecular diagnostics of coronavirus infection: Novodiag and Amplidiag
- Based on well-established qPCR and microarray technologies, these machines combine high quality and affordable costs and offer a complete solution for rapid molecular diagnostics of coronavirus infection.
Sectors & Countries
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By supporting the development of in-vitro testing platforms and facilities, we have been able to provide a crucial service in Europe in these difficult times.
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