NANOBIOTIX SIGNS A 40 M€ NON-DILUTIVE FINANCING AGREEMENT WITH THE EUROPEAN INVESTMENT BANK
- Acceleration of company’s priorities in head & neck clinical development and market preparation
- Non-dilutive funding to expand the Company cash visibility beyond 2019
Paris, France and Cambridge, Massachusetts, July 26, 2018 – NANOBIOTIX (Euronext: NANO – ISIN: FR0011341205), a late clinical-stage nanomedicine company pioneering new approaches in the treatment of cancer, announced today that the Company launched a non-dilutive financial partnership with the European Investment Bank (EIB) to boost its research, development and innovation activities.
The financing agreement will allow the Company to borrow up to 40 M€ through loan over the coming five years subject to achieving a set of agreed performance criteria.
The transaction with Nanobiotix was made possible by the support of the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, under which the EIB Group and the European Commission aim to act as strategic partners to boost the competitiveness of the European economy.
This financing agreement will enable Nanobiotix to accelerate both the development of NBTXR3 clinical trial in the head and neck cancers indication and to support the European go-to-market strategy.
The financing structure has been tailored to Nanobiotix specific needs thanks to the EU guarantee under the Juncker Plan, which key objectives include supporting innovative companies and helping their development in Europe but also to the EIB's financial expertise in this type of operation.
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.”
“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.”
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.”