Bavarian Nordic has been granted €50M loan from the European Investment Bank (EIB) to support the companies’ pipeline including novel vaccines against Ebola and other infectious diseases as well as cancer immunotherapies.
The loan is a three-to-five year bullet loan with fixed or variable interest payment. Bavarian Nordic has up to 18 months to draw on this offer but, by looking at its last cash forecast, it seems that they already plan to take at least €47M.
The company pipeline comes from a long-standing collaboration with the U.S. Government to develop biological countermeasures, including the non-replicating smallpox vaccine, IMVAMUNE, which is stockpiled by the U.S. and other governments, to use it in case of emergency.
Bavarian Nordic’s experience with these viruses leads to the foundation of two poxviral-based vaccine platform technologies. These technologies are capable of acting as a delivery vehicle for genes expressing proteins. Although, it is based on small pox, the virus cannot spread in a vaccinated person, which conduced to a favorable safety profile observed in more than a dozen clinical studies conducted by Bavarian Nordic.