CMS advises Polish medtech company on EIB financing for the development of innovative diagnostic solutions
International law firm CMS advised Scope Fluidics, a Polish medical technology company, in obtaining financing from the European Investment Bank (EIB). The financing of up to EUR 10 million (PLN 45 million) are to be used, amongst other things, to fund work on detecting infectious diseases, including COVID-19.
Since 2010, Scope Fluidics has been involved in developing innovative projects in the field of diagnostics and healthcare. As the company states in its press release, the financing, granted by the EIB is to be used, amongst other things, for work on new, efficient and inexpensive methods of detecting pathogens that cause infectious diseases, including COVID-19. The funds are to be allocated to commercialising the systems developed by the company, including increasing the intensity of operations in the PCR|ONE system that, thanks to its capacity to detect bacteria and viruses in just 15 minutes, stands out in the global effort to combat the pandemic.
The work of the Scope Fluidics team is also focused on the issue of antimicrobial resistance (“AMR”), which is currently one of the most serious global threats to health.
This is the first project in Poland to obtain financing as part of the Infectious Diseases Finance Facility (IDFF), which is part of the Horizon 2020 programme supported by the European Commission. To date, 14 agreements have been signed as part of the InnovFin IDFF, for a total of EUR 372 million.
CMS advised Scope Fluidics on negotiating the financing documentation. The CMS assignment was headed by partners: Marcin Bejm (Infrastructure and Project Finance) and Jakub Wieczorek (Banking and Finance).