Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 15,000,000
    Countries
    Sector(s)
    The Netherlands : € 15,000,000
    Services : € 15,000,000
    Signature date(s)
    28/09/2021 : € 15,000,000
    Link to source
    Data sheet

    Summary sheet

    Release date
    18 March 2022
    Status
    Reference
    Signed | 28/09/2021
    20210220
    Project name
    Promoter - financial intermediary
    XELTIS (EGF VD)
    XELTIS BV
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 15 million
    EUR 31 million
    Location
    Sector(s)
    • Services - Professional, scientific and technical activities
    Description
    Objectives

    The Promoter is a Dutch company pioneering a restorative approach in cardiovascular therapy. The company's technology platform (RestoreX) enables the patient's own body to naturally restore a new blood vessel or heart valve.

    The proposed transaction supports the company's research and development (R&D) investments and manufacturing upscaling-related capex to advance the clinical and regulatory development as well as market launch of the company's implantable cardiovascular devices i.e., restorative pulmonary heart valve, aortic heart valve, Coronary Artery Bypass Graft (CABG) and Hemodialysis access graft. The project will be coordinated from the company's headquarters located in Eindhoven (the Netherlands).

    Additionality and Impact

    Xeltis is a Netherlands based clinical-stage medical device company pioneering a restorative approach in cardiovascular therapy, which has been impacted by the Covid-19 pandemic. Their technology is based on super molecular polymer chemistry materials enabling the patient's own body to naturally restore a new blood vessel or heart valve. Initially acting as a scaffold mimicking synthetic grafts (valve or vessel), Xeltis' products are progressively replaced by patient's own tissues so a full replacement and complete restoration of the natural function of the valve or vessel is achieved. The financing of this project addresses the failure in financial markets for RDI-driven SMEs, arising from their limited access to financing as a result of factors such as information asymmetries, misalignment of incentives etc. Creation of knowledge and support of skilled jobs in the Netherlands will further contribute positively towards the EU's 3% RDI intensity target. Hence, EIB's involvement in this project supports the development of leading-edge timely, accurate and evidence based precision technology with important health benefits, which would otherwise have been significantly delayed due to the Covid-19 crisis.

    Environmental aspects
    Procurement

    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 2014/52/EU amending the EIA 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, the project is not covered by the 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.

    Comments

    Xeltis is a Dutch clinical-stage medical device company with the most advanced polymer-based restorative devices for cardiovascular treatment. Xeltis' devices, based on the revolutionary Nobel-prize super molecular polymer synthesis, can naturally evolve into living blood vessels or heart valves, when colonised by a patient's own tissue.

    Link to source
    Summary sheet

    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).

    News & Stories

    Other links
    Data sheet
    Summary sheet

    Photogallery

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

    Related publications