Reed Smith advised ITM Isotopen Technologien München AG (ITM) on the deal.
The European Investment Bank provided a loan facility of €40 million to ITM.
The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe – the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.
ITM is a company dedicated to the development, production and global supply of innovative diagnostic and therapeutic radiopharmaceuticals for use in Precision Oncology.
ITM will use the fresh funds for investments in research and development of a proprietary portfolio of Targeted Radionuclide Diagnostics and Therapies, addressing a range of cancers such as neuroendocrine tumours and bone metastases.
The EIB is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
In-House Advisors of ITM Isotopen Technologien München AG was Marc Scharrer (General Counsel).
Reed Smith legal team was led by Dirk-Peter Flor (Finance; Picture) and Dr. Justus Binder (Private Equity/M&A) comprised Dr. Andreas Jürgens (Private Equity/M&A), Carmen Delpech (Finance) and Joshua Etspüler (Private Equity/M&A).
Law Firms: Reed Smith;
Clients: ITM Isotopen Technologien München;