Summary sheet
The project supports the promoter's research, development and innovation (RDI) investments to develop microbiome-based therapies that aim to treat serious diseases by restoring the microbiome balance, including immune-related conditions and cancer.
The aim is to support the promoter's RDI investments, including proprietary clinical-stage assets, continued platform development, and the activities required to enable manufacturing scale-up. The EIB financing will also support the steps leading up to the market launch of the most advanced products. The project will be coordinated from MaaT Pharma's headquarters in Lyon.
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 French biopharmaceutical company focused on advancing microbiome-based products in severe medical conditions with unmet medical needs.
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 France and Europe's position in the life sciences sector, 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 an 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.
RDI activities 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 2014/52/EU amending 2011/92/EU. Full environmental details will be verified during appraisal.
The promoter is a private company (listed), not operating in the utilities sector and does not have the status of a contracting authority; thus, the project is not covered by EU directives on Procurement. However, the promoter's procurement procedures are expected to be in line with the EIB's procurement guidelines for private sector projects. Further procurement-related details will be verified during the project due diligence. All project contracts will be procured in accordance with the applicable EU procurement legislation.
The borrower is a French biopharmaceutical company with an in-depth expertise in microbiome. The borrower leverages its expertise in microbiome to develop pharmaceutical products aiming at restoring balance to the microbiome with application in gastro-intestinal disorders, oncology and neurodegenerative diseases.