EIB lends EUR 40 million for research, development and innovation of French biotechnology company

The European Investment Bank (EIB) signed a loan of 40 million euros with the French biotechnology company Nanobiotix, a nanomedicine company, a member of Tech label 40 of Euronext, which has developed technology to revolutionize cancer treatment.

The European Investment Bank (EIB) signed a loan of 40 million euros with the French biotechnology company Nanobiotix, a nanomedicine company, a member of Tech label 40 of Euronext, which has developed technology to revolutionize cancer treatment. The loan will be secured through the European Fund for Strategic Investments, part of the Juncker plan, which mobilized 335 billion of investments since its inception. Nanobiotix uses the funding to its spending on research, development, and innovation (RDI).

The expenditure program RDI accompany product development Nanobiotix radiotherapy enhancer called NBTXR3. The activities in the program framework will include the design and implementation of clinical trials, as well as any activity that NBTXR3 put on the market. The development program primarily targets indications of soft tissue sarcomas, cancers of the head and neck and other solid tumors.

Commissioner vytenis andriukaitis says about that: "Cancer is the second leading cause of death in the EU and with the aging of the European population, the fight against cancer will undoubtedly remain a priority in the coming years we must. therefore have an innovative research and dedicate ourselves to the search for new treatments. funding for research on cancer treatment based on nanoparticles is an example of our commitment to the fight against cancer, with significant support from the EIB fund research and innovation. "

Philippe Mauberna DAF Nanobiotix added: " We are pleased that the European Investment Bank as a new financial partner. This loan will greatly improve our financial visibility without diluting our shareholders over the medium term. This new partnership is a new recognition of the product's value that the Company wants to market to help millions of cancer patients. "

"This project fits perfectly with the Juncker Plan and is very important for European innovation," said the Vice-President of the EIB, Ambroise Fayolle. "Innovation and support for innovative companies are guaranteed by the EU as part of the Investment Plan for Europe. Funding for research on cancer treatment is one of the most rewarding things that a bank can do. The mission of the EIB is to improve people's lives, I think this project is a great example. "

Nanobiotix contributes to the competitiveness of research and development of new cancer treatments while allowing Europe to improve its knowledge and achieving excellence in the field of Nanomedicine, an area that could play an important role in the future of health care. The project should strengthen the position of the European leader in the treatment of oncology while preserving and providing opportunities for highly qualified employment.

Since its launch three years ago, the Juncker plan has enjoyed great success in Europe, exceeding its initial goals: 335 billion mobilized, or 20 billion above the originally planned target of 315 billion euros. France is the biggest beneficiary of the Juncker plan with more than 50 billion euros of additional investments mobilized since mid-2015 as part of the plan.