Release date: 8 December 2020
Promoter – Financial Intermediary
ISTAR MEDICALLocation
Description
Development of MINIJect, a small ophthalmic implant used in the Minimally Invasive Glaucoma Surgery market to treat patients with open-angle glaucoma or combined with cataract surgery for patients affected by glaucoma.
Objectives
The project supports a clinical-stage, medical technology company focusing on the development of a novel ophthalmic implant to be used primarily for patients suffering from open-angle glaucoma. The primary objective is to further advance the technology, conduct additional clinical studies to validate the product, obtain regulatory approval and scale-up the manufacturing and quality control measures. The proposed transaction will enable the Promoter to address an increasing demand for Minimally Invasive Glaucoma Surgeries (MIGS) in a safe and tolerable way. In addition, it will encourage the growth and development of European scientific acumen.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 48 million
Environmental aspects
The investment activities such as research, development and clinical studies are expected to be carried out in existing facilities already authorised for that scope, and do not fall under the Directive 2014/52/EU amending Directive 2011/92/EU. Full environmental details will be verified during due diligence.
Procurement
The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to the EU public procurement legislation Directive 2014/24/EU, then the Bank would require that the Promoter ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.
Status
Signed - 30/07/2021
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).