The EU bank will support Sanifit, a company based in Palma de Mallorca, to develop cutting-edge solutions in the field of biomedical research. develop cutting-edge solutions in the field of biomedical research.
This venture debt operation is supported by the Investment Plan for Europe. Investment Plan for Europe.
The European Investment Bank (EIB) will support research into new treatments for
progressive vascular calcification, an area of significant unmet medical need for which
there are currently no approved treatments. To this end, the EU bank will provide €20 million
to Spanish biopharmaceutical company Sanifit, which is focused on developing novel treatments for
two therapeutic indications related to calcification.
The EIB will provide funding for this Research, Development and Innovation (R&D&I) project through
a venture debt operation under the framework of the Investment Plan for European instrument of
financing with which the EU bank supports leading companies in innovative sectors. Since
it was launched by the EIB in 2016 under the Juncker Plan, this initiative has provided more
than €2 billion in financing for projects in fields such as robotics, artificial intelligence
and biomedicine.
The EIB will provide Sanifit with long-term financing to boost the development of treatments
for progressive vascular calcification disorders. The company, created as a spin-off of the
University of the Balearic Islands, has developed the molecule SNF472, which acts as a potent
selective inhibitor of hydroxyapatite crystallization (HAP), the most common cause of vascular calcification
.
Currently, research on SNF472 is in Phase 3 for the treatment of
calciphylaxis, a severe rare disease in which small subcutaneous blood vessels and fatty
tissue become blocked due to severe calcification, resulting in the death of approximately
55% of patients within the first year of diagnosis. A Phase 3 trial
will be launched in 2021 for a second indication, peripheral arterial disease, one of the main factors of
morbidity and death in patients with end-stage renal failure.
EIB Vice-President Emma Navarro, responsible for the Bank’s activity in Spain, stressed
“the positive impact of this operation in strengthening the competitiveness of Europe’s biomedical industry, a sector that requires large investments and tailor-made financing solutions.
We are delighted to support a leading Spanish company in developing new medical treatments
for vascular calcification, which will have clear benefits for patients’ health and well-being.
This agreement demonstrates the EIB’s commitment to supporting European innovation, which is, now more
than ever, essential for stimulating economic recovery and job creation”.
Dr. Joan Perelló, CEO of Sanifit, said: “The EIB’s support represents an important endorsement of our technology and its potential to help patients who are
fragile from progressive vascular calcification. This moment as
we move forward with SNF472 through clinical research is really exciting for Sanifit
and this additional investment will be invaluable as we gather the final data needed
for approval, which will allow us to offer treatment options to patients in need.”
The European Investment Bank (EIB) is the long-term financing institution of the European Union
whose shareholders are its Member States. It provides long-term financing to viable investment projects
in order to contribute to the achievement of EU policy objectives.
The Investment Plan for Europe was created in November 2014 to reverse the downward trend
of investment levels and facilitate economic recovery in Europe. Its innovative approach,
providing the EIB Group with an EU budget guarantee, enables the mobilization of substantial public and private sector
funds for investment in strategic sectors of the European economy
.
The Investment Plan has already mobilized EUR 524.4 billion of investments and supported 1.4
million start-ups and SMEs across Europe. You can see here the latest figures of the Investment Plan for Europe by sector and country here
or you can consult the frequently asked questions.
Read more about the results of the Investment Plan for Europe here.
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More about Sanifit: www.sanifit.com