Release date: 9 October 2020
Promoter – Financial Intermediary
CAPE BIO PHARMS (PTY) LTDLocation
Description
The project aims to establish a new plant-based current Good Manufacturing Practice (cGMP)-level manufacturing facility together with related processing laboratories and climate-controlled hydroponic grow rooms to produce reagents for the testing and treatment of COVID-19 and other endemic African diseases (e.g. Ebola, dengue, measles, HIV or yellow fever) in Mauritius. The facility is expected to reach a production capacity equivalent to 100 million test kits and/or vaccines per month.
Objectives
The project objective is to finance the establishment of a new state-of-the-art plant-based cGMP manufacturing facility in Mauritius to increase the production of reagents for research and diagnostic applications, vaccines, therapeutics or biosimilar development against COVID-19 and other endemic African diseases (e.g. Ebola, dengue, measles, HIV or yellow fever). The EIB's financing will follow a grant provided by FINDx to the company for the first ramp-up phase of their manufacturing activities. This innovative project intends to support substantial research and product development into areas of high, unmet medical needs by providing reagents to a plethora of diagnostic companies in the field of infectious diseases. The operation supports the control of the spread of COVID-19 as it will increase the supply of COVID-19 specific antigens and antibodies for rapid diagnostic test kits to detect whether the individual is infected with COVID-19, as well as if the individual was infected with the virus, providing critical data to determine how COVID-19 is spreading amongst communities.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 33 million
Total cost (Approximate amount)
EUR 48 million
Environmental aspects
The project will be subject to a full Environmental and Social impact Assessment and appropriate measures will be taken to avoid, reduce, mitigate, compensate and remedy the likely impact in order to comply with applicable EIB Environmental and Social Standards.
Procurement
The Bank will require that the Promoter ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Status
Signed - 18/12/2020
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).