REGENLAB (EGF VD)

The project concerns developing, manufacturing and selling medical devices used for autologous cell therapies, particular in Platelet Rich Plasma (PRP) and autologous tissue engineering with Hyaluronic Acid (HA) in the field of orthopaedics and regenerative medicine. Recently, the company has developed a new model of its devices for the preparation of convalescent plasma (CP) - antibody-rich products that are collected from eligible donors who have recovered from COVID-19.

The proposed transaction will support research, development and innovation (RDI) activities required to complete the development of the Promoter's products in the pipeline. Moreover, the project will also encompass the financing of capital investments required to scale-up the manufacturing process and increase the industrial capacity of the Promoter.

The project concerns a venture debt operation under the European Guarantee Fund. The purpose of the loan is to provide direct equity-type financing under EIB's Venture Debt Instrument to bridge the liquidity need of the RegenLab, a commercial-stage SME specializing in addressing a/o unmet medical needs in the field of orthopaedics and spine diseases. The Company is developing a portfolio of cell therapy solutions across a range of indications, based on Platelet Rich Plasma (PRP) and autologous tissue engineering. RegenLab does not have access to medium-term financing for the amounts required to complete its investment plan. Thanks to the European Guarantee Fund, the EIB may provide stable long-term funding with a flexible repayment, which is tailored to meet the R&D and capex expenditures during project implementation by limiting significant cash outflows from the Company in the short to medium term, thereby enabling it to focus on investing in innovation and growth. The financing structure is adjusted to the investment needs of the Company, with a long-tenor and partially deferred interest, minimising cash outflows.

The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An environmental impact assessment (EIA) is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The full environmental details will however be investigated by the Bank's services during the project 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 at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.