GENSIGHT BIOLOGICS (EGFF)

Promoter – Financial Intermediary

GENSIGHT BIOLOGICS SA

Location

• France

Description

The project will finance the promoter's research, development and innovation (RDI) investments to develop a pipeline of proprietary gene therapy candidates.

Additionality and Impact

The project concerns an operation under the European Growth Finance Facility. The purpose of the loan is to provide direct, equity-type financing under EIB's Venture Debt Instrument to support Research, Development and Innovation ("RDI") activities of the innovative company 'Gensight', an SME based in France. The financing of this project addresses the failure in financial markets for RDI, arising from limited access to commensurate financing as a result of factors such as information asymmetries, misalignment of incentives, etc. Gensight is a clinical-stage biopharmaceutical company focused on the development of gene therapies with the potential to provide patients with a long-lasting cure for severe genetic blinding retinal diseases. If successful, the project will have a high socio-economic impact. In addition, by creating knowledge externalities, the project will provide significant socio-economic benefits, will strengthen France and Europe's leading position in biotechnologies, and it will help to retain skilled staff engaged in the Company's RDI activities.

Objectives

The company is developing a pipeline of proprietary gene therapy candidates to provide patients with a long-lasting cure for severe genetic blinding retinal diseases, for which there are currently no approved treatments.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 35 million

Total cost (Approximate amount)

EUR 90 million

Environmental aspects

The related RDI investments 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 2011/92/EU. Full environmental details will be verified during 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 project procurement procedures are expected to be in line with EIB guidelines for private sector projects. The EIB will verify details during the project due diligence.

Status

Signed - 3/11/2022