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    Signature(s)

    Amount
    € 20,000,000
    Countries
    Sector(s)
    Belgium : € 20,000,000
    Industry : € 20,000,000
    Signature date(s)
    30/07/2021 : € 20,000,000
    Link to source

    Summary sheet

    Release date
    8 December 2020
    Status
    Reference
    Signed | 30/07/2021
    20200726
    Project name
    Promoter - financial intermediary
    ISTAR (EGF VD)
    ISTAR MEDICAL
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 20 million
    EUR 48 million
    Location
    Sector(s)
    Description
    Objectives

    Development of MINIJect, a small ophthalmic implant used in the Minimally Invasive Glaucoma Surgery market to treat patients with open-angle glaucoma or combined with cataract surgery for patients affected by glaucoma.

    The project supports a clinical-stage, medical technology company focusing on the development of a novel ophthalmic implant to be used primarily for patients suffering from open-angle glaucoma. The primary objective is to further advance the technology, conduct additional clinical studies to validate the product, obtain regulatory approval and scale-up the manufacturing and quality control measures. The proposed transaction will enable the Promoter to address an increasing demand for Minimally Invasive Glaucoma Surgeries (MIGS) in a safe and tolerable way. In addition, it will encourage the growth and development of European scientific acumen.

    Environmental aspects
    Procurement

    The investment activities such as research, development and clinical studies are expected to be carried out in existing facilities already authorised for that scope, and do not fall under the Directive 2014/52/EU amending Directive 2011/92/EU. Full environmental details will be verified during due diligence.

    The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to the EU public procurement legislation Directive 2014/24/EU, then the Bank would require that the Promoter ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - ISTAR (EGF VD)
    Publication Date
    14 Aug 2021
    Document language
    Main Topic
    Lending
    Document Number
    139051107
    Document Focus
    Environmental Information
    Project Number
    20200726
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

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