Sign up here for GlobalData's free bi-weekly Covid-19 report on the latest information your industry needs to know.German immunotherapy company BioNTech has signed a €100m debt financing agreement with the European Investment Bank (EIB) for the development of its Covid-19 vaccine candidate, BNT162.
The company also expects the deal to help boost its manufacturing capacity, allowing quick supply of the vaccine globally in response to the ongoing pandemic.
EIB’s debt investment will be provided in two €50m tranches, after achieving pre-defined milestones. EIB vice-president Ambroise Fayolle said: “In recent years the EIB has become a unique player in supporting highly innovative venture-stage biotech and medtech companies in their research.