EIB signs 30 million-euro deal supporting EryDel's red blood cell innovation strategy
The European Investment Bank (EIB) and EryDel SpA have signed a contract to provide a loan of 30 million euros ($35.4 million) to the Italian biotech company EryDel.
This late-stage biotech company aims to develop and commercialize therapies based on its proprietary RBC technology for the treatment of rare diseases. The EU bank's loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe under which the EIB and the European Commission are working together as strategic partners, with the EIB's financing operations boosting the competitiveness of the European economy.
EryDel's proprietary platform technology is an easy-to-use, fast and automatic bedside procedure for encapsulating small and large molecules including therapeutic enzymes in patients' own red blood cells. The cells are immediately re-infused into patients, providing prolonged half-life in circulation, reduced immunogenicity, better tolerability and predictable vascular distribution.
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