Up­dat­ed: EU­'s lend­ing arm grants Pol­ish biotech $22M+ in debt fi­nanc­ing to ad­vance pipeline

Many US biotechs have been tight­en­ing their pock­et­books in an ef­fort to keep them­selves run­ning. But over in Poland, one com­pa­ny is nab­bing a debt fi­nanc­ing to push it­self to­wards more clin­i­cal tri­als, with the help of one of Eu­rope’s largest lenders.

Ryvu Ther­a­peu­tics put out word ear­ly Wednes­day that the Eu­ro­pean In­vest­ment Bank, the lend­ing arm of the Eu­ro­pean Union, is pro­vid­ing the biotech with $22.3 mil­lion in debt fi­nanc­ing — or €22 mil­lion. As part of the debt fi­nanc­ing, the Eu­ro­pean Fund for Strate­gic In­vest­ments is back­ing it with a “first loss guar­an­tee,” en­sur­ing that the EIB can at least re­coup some of its in­vest­ment if the com­pa­ny’s projects go south, al­low­ing it to in­vest in projects that could have a high­er lev­el of risk.

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