Date: 2015-05-12
Type of information: Loan
Company: Bavarian Nordic (Denmark)
Investors: European Investment Bank (EIB) (EU)
Amount: € 50 million
Funding type: loan
Planned used:
- This loan will support the research and development of novel vaccines against Ebola and other infectious diseases as well as cancer immunotherapies. It provides Bavarian Nordic an opportunity to accelerate its growth strategy with the clinical development of a vaccine against respiratory syncytial virus (RSV) for which no vaccine exists, and prioritizing the development of its CV-301 cancer immunotherapy candidate, which holds promise in multiple cancer indications.
Others:
- • On May 12, 2015, Bavarian Nordic announced the securing of a loan facility of € 50 million from the European Investment Bank (EIB), the long-term lending institution of the European Union owned by its Member States. The loan facility, which is unsecured, is offered on favorable terms and may be utilized in one or more tranches. Under the terms of the agreement, Bavarian Nordic will have up to 18 months to draw on these monies. The loan is a three to five year bullet loan and could potentially carry a fixed or variable interest payment, the margin associated with the loan facility is 3.26%.
Therapeutic area: Infectious diseases
Is general: Yes
