Release date: 29 July 2022
Promoter – Financial Intermediary
NUMARES AGLocation
Description
Numares AG is a medtech company based in Regensburg (Germany) with subsidiaries in Boston and Singapore. Founded in 2004 as a spin-off of Regensburg University, the company employs 60 full-time equivalents (FTEs). It focuses on the development of Axinon, a modular software-based system for diagnostics based on nuclear magnetic resonance (NMR) metabolomics with multiple applications. The project will consist in completing the ongoing clinical studies in conjunction with relevant cost items providing Numares with sufficient runway to commercialise its platform.
Additionality and Impact
The financing of the project supports R&D activities, which generate relevant positive knowledge and technology externalities, through the creation of innovative products in the field of medical diagnostics and through skills development and upgrading. The EIB helps the Company to finalise the development of its product and execute its investment program by providing long-term financing, which better mirrors the early-stage nature of the Company, and inherently higher level of uncertainty of returns from R&D activities. Furthermore, by supporting a European Company in addressing medical needs in diagnostics, the project may contribute to the health and well-being of the global population. In addition, by applying a full digital approach, the Company significantly limits its environmental footprint and pave the way for higher sustainability standards within an industry mainly governed by chemical based technologies. By supporting the Company, the EIB enables the generation of European scientific knowledge and acumen, whilst preserving highly skilled employment opportunities.
Objectives
The EIB financing will support the research and development (R&D) activities of the Promoter to further develop in-vitro diagnostic (IVD) tests based on Axinon, a novel fully automated and software-based, IVD platform designed to obtain high-quality Nuclear Magnetic Resonance (NMR) metabolomics data from liquid biopsy samples in a robust and reproducible way for multiple indications. The primary objective is to further advance the technology, conduct additional clinical studies to validate the leading diagnostic tests, and obtain regulatory approval enabling market access. The eligible investment plan incorporates R&D activities, including, inter alia, clinical validation, regulatory, and related expenses to finance the development of the products. The proposed transaction will enable the Promoter to address an increasing demand for IVD. In addition, it will encourage the growth and development of European scientific acumen.
Sector(s)
- Services - Professional, scientific and technical activities
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 44 million
Environmental aspects
The investment concerns R&D activities that are expected to be carried out in the Promoter's existing facilities or other research centres already authorised for the same purpose, and would therefore not require an environmental impact assessment (EIA) under Directive 2014/52/EU amending Directive 2011/92/EU. Full environmental details will be verified during the appraisal by the EIB for compliance of the project with the relevant European legislation.
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 - 25/02/2022
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).