Release date: 10 November 2022
Promoter – Financial Intermediary
EVOTEC SELocation
Description
The promoter is a listed drug discovery focused pharmaceutical company with multiple products under development either on a standalone basis or through partnerships in the areas of neuroscience, diabetes, pain and inflammation, oncology, infectious diseases, respiratory, and fibrosis. The EIB loan will support (i) the R&D efforts of the promoter and (ii) the extension of the existing pharmaceutical manufacturing plant, with the construction of a new unit dedicated to biologic production.
Objectives
The proposed transaction supports the company's investments in R&D and manufacturing capacities. On the R&D side, the EIB will contribute to finance the development of the Company's existing pipeline of products and also contribute to accelerate the screening and early stage pre-clinical development of new products, which are expected to constitute the backbone of the company's growth in the future. On the manufacturing side, the EIB will contribute to finance the construction of an highly innovative manufacturing facility for biologics products, allowing the company to increase its footprint in the CDMO field. The project will be coordinated from the company's headquarters located in Germany and will be carried out mainly in France and Germany.
Comments
The Promoter is a listed biotechnology company operating in the Research / CDMO business with in depth expertise in drug discovery and manufacturing. The Company has built a strong pipeline of drug candidates in various areas of neuroscience, diabetes, pain and inflammation, oncology, infectious diseases, respiratory, and fibrosis.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 418 million
Environmental aspects
The promoter's investments in (i) research, development and innovation activities 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. However, the (ii) construction of a manufacturing facility falls under the Annex II of the EIA directive (2014/52/EU, amending 2011/92/EU), in relation to the manufacture of pharmaceutical products. Full environmental details will be verified during appraisal.
Procurement
The Bank will require that all project contracts are procured in accordance with the applicable EU procurement legislation.
Status
Signed - 29/12/2022
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).