EIB Lends €125 Million for New Cancer Therapy Facility in France

ATEF will become the world's first industrial-scale facility dedicated to producing thorium-228, the precursor used to manufacture lead-212, a rare radioisotope essential for targeted alpha therapies.

The European Investment Bank (EIB) has signed a €125 million credit agreement with Orano to support the expansion of Orano Med, the group's nuclear medicine subsidiary, and finance the construction of the Advanced Thorium Extraction Facility (ATEF) in Bessines-sur-Gartempe, France. The investment is intended to strengthen Europe's capacity to develop and manufacture innovative cancer treatments based on lead-212 targeted alpha therapies, an emerging form of precision medicine designed to destroy cancer cells while minimising damage to surrounding healthy tissue.

Orano Med is currently advancing four clinical programmes, both independently and with partners including Sanofi, Roche, and Swiss biotechnology company Molecular Partners, to evaluate these therapies for several types of cancer with significant unmet medical needs.

New facility will strengthen Europe's medical supply chain

ATEF will become the world's first industrial-scale facility dedicated to producing thorium-228, the precursor used to manufacture lead-212, a rare radioisotope essential for targeted alpha therapies. Once operational, the facility will supply Orano Med's network of Alpha Therapy Laboratories (ATLabs), where lead-212 treatments will be produced for patients.

The project supports European priorities in healthcare innovation, industrial resilience, and strategic autonomy by ensuring that the production of key medical materials takes place within Europe. The EIB said the long-term financing reflects the project's strategic importance for both medical research and the continent's pharmaceutical manufacturing capabilities.

Partnership builds on earlier investment

This marks the second financing agreement between the EIB and the Orano Group in just over a year. In March 2025, the bank approved a €400 million loan to support the expansion of the Georges Besse 2 uranium enrichment plant at Orano's Tricastin site in France.

EIB Vice-President Ambroise Fayolle said the latest investment demonstrates Europe's commitment to advancing cancer research while strengthening industrial capabilities needed to manufacture cutting-edge medical technologies within the region. Frédéric Desdouits, Chief Executive Officer of Orano Med, said the financing will help develop the company's unique production platform by centralising thorium-228 production in France, strengthening the supply chain for innovative lead-212 cancer therapies and supporting future treatment availability for patients.