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Publish Date : 26-Sep-2017

The European Investment Bank (EIB) and biopharmaceutical company Da Volterra announced today that they have entered into a EUR 20m financing agreement.

This is a key loan designed to finance Da Volterras clinical developments in the area of prevention and treatment of antibiotic-resistant serious infectious and hospital-acquired diseases.

European Commissioner for Research, Science and Innovation Carlos Moedas commented: "This operation under the InnovFin facility demonstrates the EU's determination to tackle major public health problems. We hope that this loan will help to improve the quality of life of people affected by infectious diseases and reduce the risk of development of antibiotic resistance."

"Supporting innovation and businesses is a priority of the European Union's bank. It is our responsibility to create the optimal conditions for financing research in biotech companies, which is essential for developing new treatments said EIB Vice-President Ambroise Fayolle. "There are growing medical needs in this area, so the EIB is very pleased to be supporting Da Volterras series of innovation and development projects in the field of bacterial resistance to antibiotics. This is an innovative financing operation that will have a strong impact on the health and daily life of Europe's citizens."

We are highly honoured by the EIBs commitment to Da Volterra. The EIB loan will provide us with significant additional resources to take forward our research programmes in a critical area, that of serious bacterial infections. This loan will help meet the challenge posed by todays multi-resistant bacteria and multiple infectious risks. Da Volterra is one of the few companies in the world that is clinically developing a new agent designed to prevent Clostridium difficile infections and the emergence of resistant bacteria by protecting intestinal flora from the disruption caused by antibiotic treatment, concluded Florence Sjourn, CEO of Da Volterra.

The EIB support for Da Volterras development is being provided under the Horizon 2020 initiative, and more particularly the InnovFin Infectious Diseases Finance Facility, which offers bespoke products for financing high-risk projects in the field of infectious diseases. This instrument funds the development of vaccines, medicines, medical and diagnostic equipment and research facilities.

With innovation one of its top priorities, in 2016 the EIB Group provided EUR 13.5bn in support of innovative projects in Europe, including the research programmes of large corporate groups, specialised firms and biotech companies. In France last year, 38% of the EIB Group's total investment of EUR 9.3bn was devoted to supporting businesses, innovation and research and development.

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