Elekta secures SEK 1.1B EIB loan to develop cancer treatments
What's the deal? ElektaDealroom has a profile for this one. Try Dealroom →, a Stockholm-based medical technology company, has secured a loan of just over SEK 1.1 billion (about $115 million) from the European Investment Bank to develop new cancer treatments. The financing supports its research in radiation therapy and radiosurgery, plus the software behind those treatments.
What's the endgame? The loan targets treatments for several forms of cancer and neurological diseases. Most of the work will take place in Sweden and the Netherlands, with the EIB covering up to half of the investments.
Why now? "The financing gives us greater flexibility to implement our long-term strategy and continue investing in innovations that improve treatment outcomes, streamline operations, and give patients a better experience," says Elekta chief financial officer Klara Eiritz. (translated from Swedish)
The signal: The size stands out. Among debt rounds in Sweden's health sector, Elekta's loan ranks in the 90th percentile all-time, a marker of the capital heavy medical technology firms increasingly turn to public lenders to fund long-cycle R&D.
Read more: gp.se
Image credit: Muffet
