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Signature(s)

Amount
€ 15,000,000
Countries
Sector(s)
France : € 15,000,000
Industry : € 15,000,000
Signature date(s)
29/09/2023 : € 15,000,000
Link to source
Data sheet

Summary sheet

Release date
20 November 2023
Status
Reference
Signed | 29/09/2023
20220828
Project name
Promoter - financial intermediary
SAFEHEAL (IEU TI)
SAFEHEAL SAS
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 15 million
EUR 44 million
Location
Sector(s)
Description
Objectives

The project consists in a quasi-equity investment in Safeheal, a medical technology company based in France aiming to bring to market a solution to make colorectal cancer surgery more efficient and safer for patients.

The investment will finance the company's research, development and innovation (RDI) expenses as well as regulatory activities.

Additionality and Impact

The Operation contributes to the InvestEU objective of research, development and innovation. The purpose of the loan is to provide direct, equity-type financing under EIB's Venture Debt Instrument to support research, development and innovation activities of the innovative company 'SafeHeal', a medical technology company based in France. The financing of this project addresses the failure in financial markets for RDI, arising from limited access to commensurate financing as a result of factors such as information asymmetries, misalignment of incentives, etc. The Company focuses on the development of innovative solutions to improve colorectal cancer surgeries by making them less intrusive to patients. By creating knowledge externalities, the project is expected to provide significant socio-economic benefits, will strengthen France and Europe's position in the field of advanced therapies, and it will help to create and retain skilled staff engaged in the Company's RDI activities. Thanks to the support of InvestEU, the EIB may provide long term financing in the form of venture debt to a highly innovative but high-risk early-stage company with no access to commercial debt. By contributing to extending the cash runway and therefore to de-risking the development plan of the company, the innovative EIB financing is expected to crowd-in third party investors (such as Venture Capitals, Strategic Investors, Private Equity players, etc.) and allow the company to accelerate its development and forming strategic alliances. The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

Environmental aspects
Procurement

The promoter's investments concern RDI activities 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 Directive 2011/92/EU. Full environmental details will be verified during appraisal.

The Promoter is a private company, not operating in the utilities sector and does not have 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.

Milestone
Under appraisal
Approved
Signed
19 July 2023
29 September 2023
Related projects
Link to source
Summary sheet
Other links

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) - SAFEHEAL (IEU TI)
Publication Date
23 Nov 2023
Document language
Main Topic
Lending
Document Number
165839550
Document Focus
Environmental Information
Project Number
20220828
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

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.

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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.

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