- EIB lends up to €20 million to Danish clinical-stage biotech SNIPR Biome to develop new medicines for infections that are difficult to treat due to antimicrobial resistance.
- SNIPR Biome uses CRISPR technology that allows precision killing of resistant bacteria, the lead asset SNIPR001 is designed to prevent blood stream infections caused by E. coli.
- The EIB’s financing is backed under HERA Invest, part of the European Commission’s InvestEU initiative.
Danish biotech SNIPR Biome will get up to €20 million venture debt from the European Investment Bank (EIB) to step up Europe’s fight against antimicrobial resistance to medicines. The company will use the EIB credit to develop new medicines for infections where existing antibiotics are no longer effective.
“We must not underestimate the danger of antimicrobial resistance, one of the top global health and development risks. Investment in innovative companies such as SNIPR Biome is essential for strengthening health security in Europe and beyond.” said EIB Vice-President Ioannis Tsakiris. “With the support of HERA and InvestEU, the EIB finances projects that advance state-of-the-art medical treatment against the most serious biological threats. This funding will strengthen our ability to respond to future health crises and enhance the position of SNIPR Biome as a European med-tech champion.”