First equity-risk transaction under InnovFin: EUR 25 million to support Innocoll’s pharmaceutical R&D activities

02-Apr-2015 - Luxembourg
The European Investment Bank (EIB) has signed a EUR 25 million loan with Innocoll AG. This is the first equity-risk transaction supported by “InnovFin – EU Finance for Innovators”, a new generation of financial products fostering R&D in Europe.
 
Innocoll specialises in the development and manufacturing of new pharmaceutical drugs and medical devices using its proprietary collagen technology. The company’s lead products, which are either already approved or in the last stages of development, focus on post-surgical pain relief, the treatment of diabetic foot infections and post-surgical adhesions. The EIB financing will support the development of these novel products, as well as the expansion of Innocoll’s manufacturing facility near Munich, Germany.
 
Innocoll’s R&D project is supported by “InnovFin – EU Finance for Innovators” MidCap Growth Finance, with the financial backing of the European Union under Horizon 2020 Financial Instruments. InnovFin is a new range of EIB Group products designed to facilitate access to finance for innovative businesses. InnovFin MidCap Growth Finance offers long-term senior, subordinated or mezzanine loans from EUR 7.5 to 25 million for innovative larger midcaps (up to 3000 employees), but also SMEs and small midcaps.

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