BAKU, Azerbaijan, December 10. The European Investment Bank (EIB) has agreed to provide up to 20 million euros in venture debt to Danish biotech company SNIPR Biome, Trend reports.
The funding aims to support the development of innovative treatments targeting infections caused by bacteria resistant to existing antibiotics, addressing a growing global health challenge.
EIB Vice-President Ioannis Tsakiris emphasized the significance of addressing antimicrobial resistance, calling it "one of the top global health and development risks." He added, "Investing in innovative companies like SNIPR Biome is crucial for strengthening health security in Europe and beyond." The funding, supported by HERA Invest and the InvestEU initiative, is part of the EU's strategy to advance cutting-edge medical treatments against serious biological threats.
SNIPR Biome’s proprietary CRISPR-based platform targets multidrug-resistant bacteria, such as E. coli, by either eliminating resistance genes or making harmful bacteria susceptible to antibiotics. The technology also has applications in treating metabolic and immunological disorders through microbial gene therapy.
Christian Grøndahl, CEO of SNIPR Biome, welcomed the EIB’s support: "This funding exemplifies the EU's commitment to tackling antimicrobial resistance. It will enable us to advance our lead asset, SNIPR001, towards market readiness while continuing to develop therapies for resistant bacterial infections."
The loan is backed by HERA Invest, a mechanism created by the EU’s Health Emergency Preparedness and Response Authority (HERA) and funded by the EU4Health programme. Commissioner Hadja Lahbib highlighted the importance of such initiatives: "Antimicrobial resistance is a silent pandemic that claims 35,000 lives annually in the EU. This agreement demonstrates the value of European innovation in combating this critical health threat."