ISA Pharmaceuticals receives EUR 20m loan from European Investment Bank
The European Investment Bank and ISA Pharmaceuticals have signed a EUR 20 million loan agreement to support the development of ISA’s therapy for cancers caused by the Human Papillomavirus type 16 (HPV16). The EIB’s financing is supported under the “Infectious Diseases Finance Facility” (IDFF) of the InnovFin – EU-finance for innovators programme, which is financed from the EU’s research and innovation programme Horizon 2020.
Persistent HPV16 infection can cause cervical, head & neck and anogenital cancers. These cancers can be severe and life-threatening, with low overall survival rates of advanced stages. Cervical cancer is the 2nd most common cancer in women aged 15 to 44 years in Europe, with HPV16 causing over 35,000 new cases and 15,000 deaths each year. The virus is also a major cause of oropharyngeal cancer with over 25,000 new cases and 12,000 deaths each year in Europe alone1.
ISA Pharmaceuticals has developed a novel therapy, ISA101b, which targets HPV16-positive cancers through the specific activation of the patient’s own immune system. The treatment has proven to be safe with no serious side effects, and has demonstrated substantial benefit for patients, when used in addition to current treatment in advanced stages of the head & neck cancer and cervical cancer. ISA101b represents a unique and innovative treatment modality. It is designed to fight HPV16 driven premalignant conditions and early stage cancers as monotherapy, and metastatic malignancies when given together with standard of care.
“ISA’s lead product is at a very exciting final stage of development. This loan from the EIB will help accelerate the programme all the way to our ultimate goal of making ISA101b available to all patients suffering from HPV16-induced cancers,” said Gerben Moolhuizen, CEO of ISA Pharmaceuticals.
“I am very pleased that we can actively contribute to combating cancer and its causes as a financial institution, thanks to the support of the European Commission’s InnovFin programme. After financing projects for research into the Zika virus and Ebola vaccines, this human papillomavirus project is one that we gladly participate in. The EIB has significantly increased its support for projects related to innovation in the health sector recently, and we see the ISA project as a very promising one with significant potential benefits for many patients.” said Ambroise Fayolle, Vice-President of EIB.
Through the support of IDFF, the EIB can provide stable long-term funding with a flexible repayment and interest structure, limiting the cash outflow from the company and thereby enabling it to focus on investing in innovation and growth.
Carlos Moedas, European Commissioner for Research, Science
Source: ISA Pharmaceuticals (press release)