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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.