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    Référence: 20220825
    Date de publication: 8 mars 2023

    Promoteur – Intermédiaire Financier




    The project finances the Borrower's expenditures to develop their lead product as a treatment for Long Covid. The financed R&D will be carried out in France.

    Additionality and Impact

    The EIB will support the promoter, an early-stage innovative biotechnology SME specialised in neurodegenerative and autoimmune diseases to develop potentially the first evidence-based treatment for Long-Covid. The project, if successful, is expected to have significant financial and broader social benefits, in terms of improved health and welfare. While the promoter does not yet have any commercial stage products, the promoter and its staff have long experience bringing innovative products through clinical trials. By supporting the promoter, the EIB enables the generation of European scientific knowledge and acumen, whilst preserving highly skilled employment opportunities. Due to volatility and deterioration of the environment on the capital markets, access to equity financing is limited for innovative but risky companies such as the promoter. The financing structure is adjusted to the investment needs resulting from the R&D and clinical trials carried out by the promoter. The 5 years tenor provides a sufficient time frame for the company to complete the clinical trials and to initiate the first commercial sales. Thanks to the support of InvestEU, the EIB may provide long term financing in the form of venture debt to a highly innovative but high-risk early-stage company with no access to commercial debt. By contributing to extending the cash runway and therefore to de-risking the development plan of the company, the EIB financing is expected to crowd-in third party investors and allow the company to accelerate its development.


    The loan will finance research, development and innovation (RDI) investments to further advance the promoter's product pipeline.


    • Industrie - Industrie manufacturière
    • Services - Activités spécialisées, scientifiques et techniques

    Montant BEI envisagé (montant approximatif)

    EUR 25 million

    Coût total (montant approximatif)

    EUR 63 million

    Aspects environnementaux

    The promoter's investments concern RDI activities to be carried out in existing facilities already authorised for the same purpose. As such, they would therefore not require an environmental impact assessment (EIA) under Directive 2011/92/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 which does not have the status of a contracting authority; thus the project is not covered by the EU directives on procurement. However, the Promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. The EIB's services will verify details during the project due diligence.


    Signé - 29/12/2022

    À l'examen
    21 décembre 2022
    29 décembre 2022

    Clause de non-responsabilité

    Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
    Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

    Mots-clés correspondants

    France Industrie Services