- European Investment Bank and Leyden Labs sign 20 million euro financing to advance Leyden Labs' pandemic preparedness activities, guaranteed by HERA.
- Funding is part of "HERA Invest," a 110 million euro top-up to the European Union's InvestEU initiative.
- Leyden Labs will use the funding to advance development of its novel non-vaccine approach.
The European Investment Bank (EIB) and Dutch clinical-stage biotechnology company Leyden Laboratories B.V. have signed a 20 million euro financing deal to advance development of the Company's broadly-protective antibodies. Leyden Labs' lead program is a pan-influenza nasal spray currently in clinical development (PanFlu).
"The COVID-19 pandemic taught us multiple lessons, including that we should strengthen the EU's preparedness and autonomy in key areas like bio sciences," stated EIB Vice President Robert de Groot.
Hadja Lahbib, Commissioner for Equality, Preparedness and Crisis Management, added: "Respiratory viruses are common and affect us all, especially the most medically vulnerable."
"We are thrilled with this endorsement of our approach and support from HERA and the European Investment Bank," said Koenraad Wiedhaup, co-founder and CEO of Leyden Labs.
Background Information
HERA was established as a direct consequence of the lessons learned from the initial management of the COVID-19 pandemic. HERA Invest is a 110 million euro top-up to the InvestEU programme, implemented by the EIB.
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The Netherlands owns a 5.2% share of the EIB.
Leyden Laboratories B.V., founded in 2020, is a clinical-stage biotechnology company based in the Netherlands. To learn more, visit www.leydenlabs.com.
Media and Investor Contacts
EIB Media Contact: Tim Smit, +352 691 286423, t.smit@eib.org
Leyden Labs Media Contact: Megan Prock McGrath, +1 978-800-7468, media@leydenlabs.com
Leyden Labs Investor Contact: Elizabeth Goodwin, +1 781-460-1784, investors@leydenlabs.com
