EIB and LUMICKS Partner to Accelerate Cancer Drug Discovery with €20 Million Investment in Advanced Immunotherapy Tools

EIB and LUMICKS Partner to Accelerate Cancer Drug Discovery with €20 Million Investment in Advanced Immunotherapy Tools

(IN BRIEF) Amsterdam-based LUMICKS has secured €20 million in venture debt from the European Investment Bank (EIB) to advance its next-generation cell avidity platform, which aims to accelerate the development of immunotherapies for cancer treatment. Supported by the InvestEU initiative, this investment will help LUMICKS enhance the drug discovery process by providing high-throughput measurements of cellular interactions, improving the speed and reliability of preclinical research. The funding will also support the company’s continued growth and market expansion in the life sciences sector.

(PRESS RELEASE) LUXEMBOURG, 11-Oct-2024 — /EuropaWire/ — LUMICKS, an Amsterdam-based life sciences company, has secured €20 million in venture debt from the European Investment Bank (EIB) to fast-track the development and launch of its innovative cell avidity platform, aimed at enhancing cancer immunotherapy research. This financing is supported by the InvestEU initiative, which fosters innovative projects across Europe.

LUMICKS’ next-generation platform seeks to revolutionize the drug discovery process by providing high-throughput measurements of the interactions between immune cells, like CAR-T cells, and cancer cells. This advancement addresses a significant challenge in cancer therapy development: the lack of effective tools to directly measure these cellular interactions, which often leads to delays and uncertainties in preclinical stages. By refining this critical process, LUMICKS aims to improve the speed and reliability of developing life-saving treatments, ultimately increasing the success rates of clinical trials.

The EIB’s vice president, Robert de Groot, emphasized the importance of this investment in supporting the Netherlands’ robust life sciences sector. He highlighted that the EIB’s partnership with LUMICKS, backed by InvestEU, reflects the bank’s commitment to fostering medical innovation, providing long-term funding that matches LUMICKS’ cutting-edge technological profile and its needs for continued growth and global market expansion.

LUMICKS CEO, Hugo de Wit, noted that the EIB’s investment will significantly accelerate the company’s research and development efforts. He explained that the company’s technology offers researchers deeper insights into cellular interactions, enabling faster and more informed decision-making in drug development. This, he said, will ultimately improve the chances of success in clinical trials, helping to bring more effective therapies to patients sooner.

Founded in 2014, LUMICKS employs 170 people worldwide and has gained recognition for developing advanced life science tools that are widely used by leading universities and research institutions. Its technologies have been featured in numerous high-profile publications across fields like oncology and immunotherapy, contributing to breakthroughs in cancer research.

Background information:

The European Investment Bank (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. Over the last ten years, the EIB has made available more than €27 billion in financing for Dutch projects in various sectors, including research & development, transport, drinking water, healthcare and SMEs.

The EIB is the European Union’s bank; the only bank owned by and representing the interests of the European Union Member States, The Netherlands owns a 5,2% share of the EIB. It works closely with other EU institutions to implement EU policy and is the world’s largest multilateral borrower and lender. The EIB provides finance and expertise for sustainable investment projects that contribute to EU policy objectives. More than 90% of its activity is in Europe.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments previously available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

LUMICKS is a pioneering life science tools company dedicated to accelerating drug discovery in cancer research and advancing the understanding of fundamental biological mechanisms at the molecular and cellular levels. Our innovative technologies empower researchers to reveal crucial insights into the biological complexity of health and disease, driving the development of next-generation therapies and accelerating immunotherapy breakthroughs.

Mission:

We empower academic and pharmaceutical communities with cutting-edge technologies to deeply understand the mechanisms of life and disease, driving the discovery and development of life-saving therapies.

Vision:

By 2027, more than 250 world-leading researchers developing therapies and understanding biological mechanisms will use cell avidity and single-molecule data to develop cures that will impact more than 1 million lives.

Media Contact:

Tim Smit
t.smit@eib.org
+352 4379 – 89076

Press Office

press@eib.org
+352 43791

SOURCE: European Investment Bank