Summary sheet
The project supports the development of an advanced microscopy scanner for rapid imaging of the internal microstructure of tissue samples for interventional oncology.
The aim of the project is to support the development of the RDI activities of the promoter, including development and improvement of the Histolog® Scanner, a microscopy device that provides real-time imaging of the internal microstructure of tissue samples for interventional oncology.
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 the EIB's Venture Debt Instrument to support research, development, and innovation (RDI) activities of an innovative Belgian MedTech company focused on advancing an innovative microscopy device for real-time imaging of tissue samples in the context of interventional oncology. The financing of this project addresses the failure in financial markets for RDI, arising from limited access to commensurate financing due to factors such as information asymmetries, misalignment of incentives, etc. By creating knowledge externalities, the project is expected to provide significant socio-economic benefits, strengthen Belgium and Europe's position in the field of medical devices, and help create and retain skilled staff. Thanks to the support of InvestEU, the EIB may provide long-term financing in the form of venture debt to a highly innovative company with no access to commercial debt. By contributing to extending the cash runway and, therefore, de-risking the development plan of the company, EIB financing is expected to attract third-party investors and accelerate the company's development. The project would not have been carried out (to the same extent) by the EIB without the support of InvestEU.
The specific RDI activities included in the project are expected to be performed in existing facilities without changing their already authorised scope. Therefore, the project activities would not require an Environmental Impact Assessment (EIA) under the Directive 2014/52/EU amending the Directive 2011/52/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 generally not covered by EU directives on procurement. However, the Bank will require that all project contracts are procured in accordance with the applicable EU procurement legislation. The Bank's services will verify details during the project due diligence.