The European Investment Bank (EIB) has signed up to a €10 million loan agreement with Lublin-based Polish company SDS Optic Inc., publicly listed at Warsaw Stock Exchange (NC:SDS), to support the development and commercialization of the diagnostic and monitoring photonic biosensing inPROBE® platform. The research and development activities backed will help advance a cutting-edge cancer detection technology. This agreement was made possible with the support of the InvestEU programme, which aims to trigger more than €372 billion in additional investment over the period 2021-27.
Commissioner for the Economy, Paolo Gentiloni, said: "With this investment backed by the InvestEU programme, we double down on our commitment to improve the quality of life for people affected by cancer. This agreement not only highlights our dedication to advance healthcare innovation but also strengthens Europe's standing at the forefront of advanced health technology and cutting-edge medical devices."
Vice-President of the EIB, prof. Teresa Czerwińska said: "Supporting research and innovation is one of the priorities of the European Investment Bank and we are pleased to start co-operation with SDS Optic, an ambitious Polish company specializing in the development of innovative medical diagnostic devices. EIB financing will enable the company to continue its dynamic growth and develop new technologies that will speed up diagnostic processes for the wider social benefit."
SDS Optic Inc. develops, produces, and commercializes unique diagnostics and monitoring devices, with a focus on assisting healthcare providers with faster, less painful diagnostics and targeted treatment procedures. The company merges molecular biology, advanced photonic technologies, immunochemistry, and biomedical engineering, having developed the first ever single cell resolution immunoassay for breast cancer real-time diagnostic -, the inPROBE® HER2 breast cancer detection device.
"Our vision is to develop innovative cancer diagnostics & monitoring technologies that will help increase the cancer survival rate by 30% by 2030. We strive to achieve that by creating and implementing real-time, in vivo and numerically based photonic technologies. There is no doubt, that the European Investment Bank's financial support will significantly accelerate our development and allow us to new scale-up applications to the market much faster than we assumed. This is another proof of trust we are getting from the global, renowned Institution, after very restrict verification and acceptance of our scientific data and solutions" - said Marcin Staniszewski, SDS Optic CEO.
The EIB believes that investing in innovation, research and development, and human capital is pivotal for economic development. In 2022, the EU Bank's support to these sectors globally reached €17.93 billion. In 2018 – 2022 the EIB Group support to these sectors in Poland reached €4.65 billion. TO ADD IF ACCURATE: The financing agreement with SDS Optic will support advanced research activities in a less developed region of the EU in terms of per-capita income, highlighting the EIB's commitment to equitable growth and territorial and social cohesion.
Background information
The EIB Group is the EU's long-term financing institution, owned by its member states. It comprises of the European Investment Bank (EIB) and the European Investment Fund (EIF). The EIB Group finances investments that contribute to EU policy goals, including social and territorial cohesion, and the just transition to climate neutrality.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union's policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
SDS Optic Inc. develops, produces and commercializes unique diagnostics and monitoring tools on a global scale. The company merges vast medical knowledge with technical skills to create disruptive technologies that can revolutionize global healthcare. It is developing life-saving innovations which can help medical staff with real-time diagnoses. The company focuses on assisting healthcare providers with faster, less painful diagnostics and supports targeted, effective treatment procedures.
inPROBE, invented and developed by SDS Optic, is a device designed specifically to reduce cancer diagnostic time (from months to minutes), and increase precision and effects of advanced cancer treatments. An optical fiber tip, of only 6-micron wide in diameter, and covered with specific antibodies, is the prime basis for the InProbe technology. It can be used both in cancer diagnostics and therapies, and also in real-time drug delivery monitoring, in a natural state (in vivo), thus giving professionals a fast and efficient technology. .
