Nordic Investment Bank and Elekta AB continue cooperation with €50 million R&D loan for cancer treatment innovations

Photo: Elekta AB

(IN BRIEF) Nordic Investment Bank (NIB) and Elekta AB, a Swedish medical equipment manufacturer, have agreed to a 7-year loan deal worth €50 million to finance R&D investments in oncology solutions and treatment. The loan will support Elekta’s research and development budget for the period of 2022-2025, focusing on increased R&D spending in Sweden and Finland, and allowing the company to continue innovating and advancing cancer care. Elekta’s R&D strategy is centered around precision, productivity, resource optimization, and integrated informatics to improve cancer care, with a growing emphasis on the utilization of artificial intelligence and machine learning. Elekta develops clinical solutions and treatment planning systems for radiation therapy, radiosurgery, and brachytherapy, as well as oncology information systems, and employs around 4,700 people globally.

(PRESS RELEASE) HELSINKI, 6-Apr-2023 — /EuropaWire/ — The Nordic Investment Bank (NIB), an international financial institution with focus on the Nordic and Baltic countries, and Elekta AB, the Swedish medical equipment manufacturer, have reached a 7-year loan agreement to finance R&D investments in oncology solutions and treatment. Under the deal, Elekta will receive a €50 million investment loan that will support its research and development budget for the period of 2022–2025, focusing on increased R&D spending in Sweden and Finland where the company has a strong R&D presence. This will enable Elekta to continue innovating and advancing cancer care.

Elekta’s R&D strategy is centered around precision, productivity, resource optimization, and integrated informatics to improve cancer care. The company is committed to developing innovative devices and solutions that optimize treatment selection and improve patient outcomes, with a growing emphasis on the utilization of artificial intelligence and machine learning.

“Our continued investment in Elekta’s R&D activities and their cutting-edge solutions drive innovation that addresses global health challenges in the fight against cancer. We believe that these innovative technologies will transform cancer treatment, providing non-quantifiable benefits to society, such as reduced mortality and morbidity in oncological diseases and increased access to radiation therapy,” says André Küüsvek, NIB President & CEO.

“This investment will support our innovation strategy for the coming years. Elekta has long been a pioneer in new technology, and we expect to continue as leaders with a comprehensive digital software transformation program and doubling of Elekta’s AI efforts. We will continue to develop innovative solutions within personalized precision, elevated productivity and integrated informatics,” says Maurits Wolleswinkel, Elekta’s Chief Product Officer.

NIB has had a close relationship with Elekta since 2017, providing two loans for their R&D activities. The €50 million investment loan for Elekta’s R&D budget for 2022–2025 is a testament to the ongoing cooperation between NIB and Elekta.

Headquartered in Stockholm, Sweden, Elekta develops clinical solutions and treatment planning systems for radiation therapy, radiosurgery, and brachytherapy, as well as oncology information systems. With around 4,700 employees globally, the company is dedicated to advancing cancer care and improving patient outcomes.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:
Frank Reichelt, Senior Banker, at +358 10 618 0309, Frank.Reichelt@nib.int
David Rasmusson, Communications, at +358 50 476 3071, David Rasmusson@nib.int

SOURCE: Nordic Investment Bank