InnovFin Infectious Diseases Finance Facility (IDFF)

The InnovFin Infectious Diseases Finance Facility (IDFF) provides financial products ranging from standard debt to equity-type financing for amounts typically between €7.5 million and €75 million to innovative players active in developing or manufacturing innovative vaccines, medicines, medical and diagnostic devices or novel research to combat infectious diseases.

Project costs may include laboratory-validated technologies, which require clinical testing for further development, in addition to complementary pre-clinical research.

The product is available directly through the European Investment Bank and will continue to support innovative infectious diseases projects until the end of 2022.

Eligibility criteria

-The promoter should be a large pharmaceutical company, a mid-cap or a small and medium-sized enterprise (SME), a research institute/organisation, a university, a non-profit entity or a special-purpose vehicle (SPV). Promoters, sponsors and/or operators must be willing to substantially co-fund the project.

-The project must have a proven public health impact and potential market prospects.

-The borrower must be established and operating in one or several of the Member States and H2020 Associated Countries. The project and/or the Investigational Programme (IP) development, such as clinical trials, can be undertaken outside Member States and H2020 Associated Countries.

-Projects must relate to investment in the field of infectious diseases (ID) with an established proof of concept. For example, the project must develop innovative vaccines, medicines, medical or diagnostic devices, or infrastructure in the field of ID that require clinical testing or are ready for later stage clinical trials. They can also provide finance for:

>novel research infrastructure that provides facilities, resources and related services for use by the scientific community to conduct top-level research in the ID field; or

>investments supporting pre-clinical research in such cases whereby a high unmet medical need is being addressed and potential results providing benefits for the respective patient populations should be feasible within a 5-year time horizon; or

>European manufacturing facilities to enable commercial production of essential vaccines, diagnostics and treatments and pharmaceutical ingredients.