SNIPR BIOME RDI (IEU TI HERA)

The project supports the development of novel, highly selective anti-bacterial CRISPR-based medicines for difficult-to-treat infections due to antimicrobial resistance.

The aim is to support investments in Research & Development (R&D) to further advance the promoter's product pipeline of innovative, highly selective anti-bacterial drug candidates based on gene editing technology, targeting bacterial pathogens associated with antimicrobial resistance (AMR).

The operation contributes to the InvestEU objective of research, development, and innovation (RDI), tackling financial market failures arising from limited access to financing, information asymmetries and misalignment of interest. The purpose of the loan is to provide direct equity-type financing under the EIB's Venture Debt Instrument to support RDI activities of an innovative Danish biotech company. By creating knowledge externalities, the project is expected to provide significant socio-economic benefits, strengthen Denmark and Europe's position in the field of CRISPR/Cas technology for selective bacterial killing and microbial gene therapy, and help create and retain highly skilled staff. The EIB loan mirrors the economic characteristics of a convertible bond, aligning with the company's financing requirement and time synchronising the Bank's interest with equity investors.

Thanks to the support of InvestEU, the EIB can provide long-term financing to a highly innovative company with no access to commercial debt. By contributing to extending the company's cash runway and de-risking its R&D plans, the EIB financing is expected to attract third-party investors and accelerate the company's development and growth. The project would not have been carried out to the same extent by the EIB without the support of InvestEU.

The project mainly concerns investments in R&D that 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 the Directive 2011/92/EU. Full environmental details will be verified during the appraisal.

The promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus, it is not covered by EU directives on procurement. However, the promoter's procurement procedures are expected to be in line with EIB's guidelines for private sector projects. The Bank's services will verify details during the project due diligence.