ANOCCA (IEU TI)

Promoteur – Intermédiaire Financier

ANOCCA AB

Lieu

• Suède

Description

The promoter's technologies enable highly precise and efficient analysis of T-cell immunity required to deliver a range of therapeutics and vaccines that specifically harness or manipulate T-cell immunity. With a focus on delivering T-cell receptor modified T-cell therapies (TCR-T) in oncology, the promoter is rapidly progressing a pipeline of novel therapies towards clinical trials utilising its own manufacturing capabilities. The promoter's breakthrough technology has high market potential to address multiple indications and unmet medical needs, well aligned with EU policy priorities. The EIB project will support development of pre-clinical and clinical pipeline of therapeutics, as well as upgrading to Good Manufacturing Practices (GMP) certification the company's own manufacturing unit.

Additionality and Impact

The purpose of the loan is to provide direct equity-type financing under the INVESTEU Thematic, benefiting from the EC guarantee, to finance research and development activities of an innovative biotechnology company Anocca. Anocca's expertise lies in the discovery of T-cell receptor engineered T-cell therapies (TCR-T) with optimised properties to address specific limitations of existing therapeutic approaches, mainly in oncology. The financing of this project addresses the failure in financial markets for RDI-driven European SMEs suffering from systemic shortages of large, non-dilutive financing options for growth investments. Creation of knowledge and support of skilled jobs in Sweden will further contribute positively towards the EU's 3% RDI intensity target. Currently, the Company does not have access either to non-dilutive or to long-term debt funding sources from traditional or even alternative debt providers. Due to volatility of European markets which has significantly increased in 2022, access to both equity markets and commercial debt providers has been challenging for innovative but early-stage companies such as Anocca. 

The financing structure is adjusted to the investment needs of the Company, with a long tenor and deferred interest, while most of the EIB remuneration will come in a form of warrants, minimising cash outflows.

Objectifs

The loan will finance the research and development (R&D) investments to further advance the promoter's product pipeline.

Secteur(s)

• Services - Activités spécialisées, scientifiques et techniques

Montant BEI envisagé (montant approximatif)

EUR 25 million

Coût total (montant approximatif)

EUR 96 million

Aspects environnementaux

The project concerns investments in research and development activities carried out by the promoter and its partners in existing facilities without changing their already authorised scope. The research and development activities of the project do not fall under either Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by Directive 2014/52/EU. Full environmental details will be verified during appraisal.

Passation des marchés

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 guidelines for private sector projects. The Bank's services will verify details during the project due diligence.

Statut

Signé - 16/12/2022