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    Reference: 20200875
    Release date: 7 September 2021

    Promoter – Financial Intermediary

    REGEN LAB FRANCE SAS

    Location

    Description

    The project concerns developing, manufacturing and selling medical devices used for autologous cell therapies, particular in Platelet Rich Plasma (PRP) and autologous tissue engineering with Hyaluronic Acid (HA) in the field of orthopaedics and regenerative medicine. Recently, the company has developed a new model of its devices for the preparation of convalescent plasma (CP) - antibody-rich products that are collected from eligible donors who have recovered from COVID-19.

    Additionality and Impact

    The project concerns a venture debt operation under the European Guarantee Fund. The purpose of the loan is to provide direct equity-type financing under EIB's Venture Debt Instrument to bridge the liquidity need of the RegenLab, a commercial-stage SME specializing in addressing a/o unmet medical needs in the field of orthopaedics and spine diseases. The Company is developing a portfolio of cell therapy solutions across a range of indications, based on Platelet Rich Plasma (PRP) and autologous tissue engineering. RegenLab does not have access to medium-term financing for the amounts required to complete its investment plan. Thanks to the European Guarantee Fund, the EIB may provide stable long-term funding with a flexible repayment, which is tailored to meet the R&D and capex expenditures during project implementation by limiting significant cash outflows from the Company in the short to medium term, thereby enabling it to focus on investing in innovation and growth. The financing structure is adjusted to the investment needs of the Company, with a long-tenor and partially deferred interest, minimising cash outflows.

    Objectives

    The proposed transaction will support research, development and innovation (RDI) activities required to complete the development of the Promoter's products in the pipeline. Moreover, the project will also encompass the financing of capital investments required to scale-up the manufacturing process and increase the industrial capacity of the Promoter.

    Sector(s)

    • Services - Professional, scientific and technical activities

    Proposed EIB finance (Approximate amount)

    EUR 14 million

    Total cost (Approximate amount)

    EUR 55 million

    Environmental aspects

    The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An environmental impact assessment (EIA) is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The full environmental details will however be investigated by the Bank's services during the project 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 at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

    Status

    Signed - 30/09/2021

    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

    France Italy Services