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    Reference: 20200235
    Release date: 23 October 2020

    Promoter – Financial Intermediary

    ONCOPEPTIDES AB (PUBL)

    Location

    Description

    Quasi equity financing to Oncopeptides - a publicly listed Swedish biotech developing targeted therapies for difficult-to-treat haematological diseases such as Relapsed and Refractory Multiple Myeloma.

    Objectives

    The proposed transaction will support research and development (R&D) investments required to bring a melflufen programme to market, addressing a high unmet medical need, Multiple Myeloma (a rare form of cancer), in a growing patient population. In addition, it will support the company's development of its drug pipeline, preserving and cultivating highly skilled employment opportunities.

    Comments

    The company is publicly listed: any communication to be withheld until after signature of the finance contract and coordination with the company.

    Sector(s)

    • Services - Professional, scientific and technical activities

    Proposed EIB finance (Approximate amount)

    EUR 40 million

    Total cost (Approximate amount)

    EUR 166 million

    Environmental aspects

    The Promoter's investments concern research, development and innovation 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 2014/52/EU amending 2011/92/EU. Full environmental details verified during appraisal.

    Procurement

    The Promoter is a public company, 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 EIB guidelines for private sector projects. The Bank's services verified details during the project due diligence.

    Status

    Signed - 14/10/2020

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Sweden Services