Release date: 27 January 2021
Promoter – Financial Intermediary
AB SCIENCE SALocation
Description
The project finances the borrower's expenditures over the next three years related to Masitinib and its analogues against COVID-19 (non-clinical and clinical studies, drug manufacturing including stock piling, related regulatory expenses, related general and administrative (G&A) expenses).The project will be implemented from Paris, France.
Objectives
The project finances the borrower's expenditures over the next three years related to Masitinib and its analogues against COVID-19 (non-clinical and clinical studies, drug manufacturing including stock piling, related regulatory expenses, related G&A expenses).The project will be implemented from Paris, France. The company's innovative approach might prevent complications linked to severe pulmonary inflammation and thrombotic events potentially leading to death. It also aims to reduce the burden on intensive care units and more invasive treatment options. By co-investing in the project, the Bank contributes to improving healthcare, whilst also fostering the generation of European scientific knowledge and acumen, preserving and cultivating highly skilled employment opportunities.
Sector(s)
- Services - Professional, scientific and technical activities
Proposed EIB finance (Approximate amount)
EUR 15 million
Total cost (Approximate amount)
EUR 35 million
Environmental aspects
The project mainly concerns investments in research and development (R&D) 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 the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Full environmental details will be verified during the appraisal.
Procurement
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. Details will be assessed during the project's due diligence.
Status
Signed - 27/11/2020
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).