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

    Signature(s)

    Amount
    € 25,000,000
    Countries
    Sector(s)
    Sweden : € 25,000,000
    Services : € 25,000,000
    Signature date(s)
    16/12/2022 : € 25,000,000
    Link to source
    Data sheet

    Summary sheet

    Release date
    23 January 2023
    Status
    Reference
    Signed | 16/12/2022
    20220474
    Project name
    Promoter - financial intermediary
    ANOCCA (IEU TI)
    ANOCCA AB
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 25 million
    EUR 96 million
    Location
    Sector(s)
    • Services - Professional, scientific and technical activities
    Description
    Objectives

    The promoter's technologies enable highly precise and efficient analysis of T-cell immunity required to deliver a range of therapeutics and vaccines that specifically harness or manipulate T-cell immunity. With a focus on delivering T-cell receptor modified T-cell therapies (TCR-T) in oncology, the promoter is rapidly progressing a pipeline of novel therapies towards clinical trials utilising its own manufacturing capabilities. The promoter's breakthrough technology has high market potential to address multiple indications and unmet medical needs, well aligned with EU policy priorities. The EIB project will support development of pre-clinical and clinical pipeline of therapeutics, as well as upgrading to Good Manufacturing Practices (GMP) certification the company's own manufacturing unit.

    The loan will finance the research and development (R&D) investments to further advance the promoter's product pipeline.

    Additionality and Impact

    The purpose of the loan is to provide direct equity-type financing under the INVESTEU Thematic, benefiting from the EC guarantee, to finance research and development activities of an innovative biotechnology company Anocca. Anocca's expertise lies in the discovery of T-cell receptor engineered T-cell therapies (TCR-T) with optimised properties to address specific limitations of existing therapeutic approaches, mainly in oncology. The financing of this project addresses the failure in financial markets for RDI-driven European SMEs suffering from systemic shortages of large, non-dilutive financing options for growth investments. Creation of knowledge and support of skilled jobs in Sweden will further contribute positively towards the EU's 3% RDI intensity target. Currently, the Company does not have access either to non-dilutive or to long-term debt funding sources from traditional or even alternative debt providers. Due to volatility of European markets which has significantly increased in 2022, access to both equity markets and commercial debt providers has been challenging for innovative but early-stage companies such as Anocca. 

    The financing structure is adjusted to the investment needs of the Company, with a long tenor and deferred interest, while most of the EIB remuneration will come in a form of warrants, minimising cash outflows.

    Environmental aspects
    Procurement

    The project concerns investments in research and development activities carried out by the promoter and its partners in existing facilities without changing their already authorised scope. The research and development activities of the project do not fall under either Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by Directive 2014/52/EU. Full environmental details will be verified during 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.

    Related projects
    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).

    Documents

    Environmental and Social Data Sheet (ESDS) - ANOCCA (IEU TI)
    Publication Date
    27 Jan 2023
    Document language
    Main Topic
    Lending
    Document Number
    161193883
    Document Focus
    Environmental Information
    Project Number
    20220474
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

    News & Stories

    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