The EIB is providing a €50 million loan to Danish biotech MinervaX ApS.
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The European Investment Bank (EIB) has provided a €50 million loan facility to MinervaX ApS, a privately held Danish biotechnology company developing a novel, protein-based vaccine against Group B Streptococcus (GBS).
The project financing will enable MinervaX to advance the late-stage development of its GBS vaccine candidate, which was recently awarded PRIME status by the European Medicines Agency (EMA) given its potential to prevent life-threatening infections and harmful pregnancy outcomes in newborn babies caused by GBS transmission during delivery.
MinervaX has begun preparations to expand its clinical development team and evaluate its phase 2 clinical data for efficacy and safety ahead of public presentation.
Group B Streptococcus is responsible for nearly half of all life-threatening infections in newborns. Globally, 15% to 25% of women are infected with GBS.
The mothers then run the risk of transmitting the bacteria to their child in the womb before or during birth, or during the first few months of life.
GBS infections may lead to late-term abortions, premature delivery or stillbirth. In newborn children it may result in sepsis, pneumonia or meningitis, all of which carry a significant risk of severe morbidity, long-term disability or death.
Worldwide, GBS is estimated to be responsible for some 320 000 cases of neonatal invasive disease, 60 000 stillbirths, 3.5 million preterm deliveries, and 10 000 babies suffering from long-term neurological damage annually.
Currently, the only available preventative approach against Group B Streptococcus is through delivered prophylactic antibiotics. This is a costly and logistically challenging approach. It is also unable to cover all infections, including the most severe cases in the United States and Europe, and is unavailable in low-income regions. ■
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