The European Investment Bank (EIB) has signed a EUR 40 million loan agreement with French biotechnology company Nanobiotix, a Euronext Tech40 company and nanomedicine enterprise that has developed a technology to enhance existing oncology treatment and to potentially bring a new dimension to cancer therapies. The loan will be guaranteed under the European Fund for Strategic Investments, part of the Juncker Plan which has mobilised EUR 335 billion in supported investments since its inception. Nanobiotix will use the financing for its planned expenditures in research, development and innovation.
The RDI expenditure programme will include the development of Nanobiotix’s novel nanoparticle radio-enhancer product called NBTXR3. The activities under the programme will include the design, as well as the conduct, of clinical trials and any tasks to bring NBTXR3 to the market. The development programme primarily targets indications in Soft Tissue Sarcomas, Head and Neck cancers and other solid tumours.
Commissioner Vytenis Andriukaitis said: “Cancer is the second-highest cause of death in the EU and with Europe’s ageing population, fighting cancer will undoubtedly remain a priority in the years to come. We need to have innovative and dedicated research to always be in search of new treatments. Nanoparticle based cancer treatment research funding is one example of how serious we are in fighting cancer, with the significant support from the EIB to finance research and innovation.”
Philippe Mauberna, CFO Nanobiotix, added: “We are pleased to have the European Investment Bank on board as a new financing partner. This loan will significantly enhance our financial visibility without diluting our shareholders in the medium term. This new partnership is another value recognition of the product the Company wants to bring to market to help millions of cancer patients.”
“This project is a great fit with the Juncker Plan and is very important for European innovation.” emphasised EIB Vice-President Ambroise Fayolle. “Innovation, and support for innovative companies, is what the EU guarantee under the Investment Plan for Europe is about, and financing research into cancer treatment is one of the most rewarding things a Bank can do. The EIB’s mission is to improve people’s lives, I think this is an excellent example of that.”
Through its R&D activities, Nanobiotix contributes to the competitive search for, and generation of, improved oncology treatments, whilst also stimulating the generation of European knowledge and excellence in the field of nanomedicine, which may play a significant role in the future of healthcare. The project is expected to enhance Europe’s leading position in oncology treatment whilst preserving and cultivating highly skilled employment opportunities.
Since its launch three years ago, the Juncker Plan has been highly successful in Europe, surpassing its initial objectives by mobilising EUR 335 billion, EUR 20 billion above the originally forecasted target of EUR 315 billion. France is the largest beneficiary of the Juncker Plan with more than EUR 50 billion worth of additional investments mobilised since mid-2015 under the plan.
Background information
Created by the Treaty of Rome and set up in 1958, the EIB is the European Union's bank, which, together with its dedicated SME support subsidiary the European Investment Fund (EIF), forms the EIB Group. The EIB Group is a key player in reviving Europe’s – and particularly France’s – economy through investment. Thanks to its reliable expertise and the financial attractiveness of its AAA rating, the EIB Group has doubled the volume of its activities in France since 2012 (reaching EUR 8.6bn in 2017), not only supporting businesses and innovation but also financing investment in strategic sectors such as climate action, energy, healthcare, housing, education for young people and training infrastructure. Since 2015, the EIB Group has been the operator of the Investment Plan for Europe, commonly known as the Juncker Plan.
The Investment Plan for Europe, or Juncker Plan, is one of Jean-Claude Juncker's Commission’s top priorities. It focuses on boosting investments in Europe to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing greater visibility and technical assistance to investment projects. The European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe, enables the EIB Group to invest in more, often riskier, projects with high added value.
Nanobiotix is a highly innovative nanomedicine company dedicated to the development of new treatments for different cancer types, based on the combined application of nanotechnologies and radiotherapy. The Company was founded in 2003 and is based in Paris. It is a late clinical - stage French biotech developing radiotherapy enhancers, in the form of nanoparticles, for oncology indications with a primary focus on advanced stage treatment. The Company currently employs ca. 85 highly qualified employees, most of whom are in R&D.
