ANNOUNCEMENT 18 May 2021

In May 2021, the French government provided further financing to OSE Immunotherapeutics to develop a new COVID-19 vaccine candidate. The support was given under the France Relance framework. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Bpifrance. Actualités. Press release. "OSE Immunotherapeutics obtient un nouveau financement public de 10,7 millions d’euros pour les prochaines étapes du développement CoVepiT, son vaccin multi-cibles et multi-variants contre la COVID-19 en Phase 1 clinique". 18/05/2021. Available at: https://presse.bpifrance.fr/ose-immunotherapeutics-obtient-un-nouveau-financement-public-de-107-millions-deuros-pour-les-prochaines-etapes-du-developpement-covepit-son-vaccin-multi-cibles-et-multi-variants-contre-la-covid-19/

Inception date: 18 May 2021 | Removal date: open ended

State loan

On 18 May 2021, the French government provided a EUR 10.7 (approx. USD 13.1 million) loan to OSE Immunotherapeutics for financing the next stages of the development of a COVID-19 vaccine candidate. The support comes after a first loan was signed with the European Investment Bank (EIB) in February 2021 (see related state act).

In particular, CoVepiT is a vaccine candidate with a multi-target and multi-variant potential. The candidate is currently under phase 1 of its clinical trial. Notably, the loan was provided under the Investment for the Future Programme (PIA) managed by Bpifrance (see related state act). As such, it also forms part of the France Relance framework, introduced in September 2020 as a short- and medium-term support plan to foster economic recovery in France in the context of the COVID-19 pandemic.

In this context, OSE Immunotherapeutics’s CEO, Alexis Peyroles, thanked “the French Government and Bpifrance for renewing their trust in [the company] and supporting with additional funding which will allow the clinical development of CoVepiT to be broadened, subject to positive results from Phase 1 underway in Belgium “ (own translation).

OSE Immunotherapeutics is a French biotechnology company focused on developing and partnering therapies to control the immune system for immuno-oncology and autoimmune diseases. It has its headquarters in Nantes and has international alliances and presence in Europe and the United States.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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