The European Investment Bank (EIB) has signed a €15 million quasi-equity financing agreement with Swiss-Dutch medical technology company Xeltis. The EIB’s non-dilutive financing will support the acceleration of clinical programmes for three of Xeltis’ revolutionary, restorative devices for heart valve replacement.
Xeltis is pioneering a restorative approach in heart valve replacement and vascular therapies, overcoming the limitations of existing options. Xeltis’ so-called endogenous tissue restoration (ETR) uses the patient’s natural healing system to restore heart valves and blood vessels with the patient’s own tissue. Leveraging the versatility of its technology platform, which can be used to improve many types of implants, Xeltis initiated the development of three types of cardiovascular implants: pulmonary heart valves, coronary artery bypass graft and haemodialysis access grafts, the roll-out of which is set to be accelerated by this EIB financing.
The financing is being made available under the European Guarantee Fund (EGF), an EIB Group initiative in partnership with EU Member States to support European companies whose business was impacted negatively by the COVID-19 pandemic. Using nearly €25 billion in guarantees, the EGF allows the EIB and the EIF to quickly make loans, guarantees, asset-backed securities, equity and other financial instruments available to mostly small and medium-sized enterprises, to allow them to come through difficult times and grow their way out of the crisis. The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investments in order to contribute towards EU policy goals.
(Press release / SK)
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