Danish biotech SNIPR Biome receives up to €20 million European backing to advance therapies against microbial resistance

This article is published in association with European Investment Bank.

• EIB lends up to €20 million to Danish clinical-stage biotech SNIPR Biome to develop new medicines for infections that are difficult to treat due to antimicrobial resistance.
• SNIPR Biome uses CRISPR technology that allows precision killing of resistant bacteria, the lead asset SNIPR001 is designed to prevent blood stream infections caused by E. coli.
• The EIB’s financing is backed under HERA Invest, part of the European Commission’s InvestEU initiative.

Danish biotech SNIPR Biome will get up to €20 million venture debt from the European Investment Bank (EIB) to step up Europe’s fight against antimicrobial resistance to medicines. The company will use the EIB credit to develop new medicines for infections where existing antibiotics are no longer effective.

“We must not underestimate the danger of antimicrobial resistance, one of the top global health and development risks. Investment in innovative companies such as SNIPR Biome is essential for strengthening health security in Europe and beyond.” said EIB Vice-President Ioannis Tsakiris. “With the support of HERA and InvestEU, the EIB finances projects that advance state-of-the-art medical treatment against the most serious biological threats. This funding will strengthen our ability to respond to future health crises and enhance the position of SNIPR Biome as a European med-tech champion.”

SNIPR Biome’s new, highly selective, anti-bacterial CRISPR-based proprietary technology platform can be used to combat infectious disease by precision killing of multi drug resistant bacteria such as E. coli, or by making harmful bacteria susceptible to antibiotics again by removing resistance genes. Additionally, the SNIPR platform technology can treat immunological and metabolic disorders through microbial gene therapy by modulating the bacteria in the gut.

“We are very pleased to receive this financial support from EIB on the important topic of antimicrobial resistance.” said Christian Grøndahl, CEO of SNIPR Biome. ”This support exemplifies the EU’s commitment to fighting antimicrobial resistance and will enable us to advance our lead asset, SNIPR001, towards market readiness while also developing new therapies to address infections caused by resistant bacteria, which pose a growing threat to modern medicine.”

The EIB’s loan takes the form of venture debt supported by HERA Invest, a top-up to the European Union’s InvestEU initiative. This mechanism was created by the EU’s Health Emergency Preparedness and Response Authority (HERA), and is funded by the EU4Health programme.

Hadja Lahbib, Commissioner for Equality, Preparedness and Crisis Management, said: “Antimicrobial resistance is a silent pandemic. In the EU alone, 35,000 people die every year because of it, and resistant infections place a significant burden on our healthcare systems. Today’s HERA Invest agreement is an important milestone and shows the importance of European companies’ innovation in fighting this major health threat. HERA Invest is ensuring that Europe remains at the forefront of medical breakthroughs.”

The EIB financing will support SNIPR Biome’s R&D programmes on antimicrobial resistance, for the coming years. Next to this, SNIPR Biome will also continue deploying its technology platform in the fields of metabolic diseases, autoimmune diseases, and oncology. For this transaction SNIPR BIOME has been advised by Kromann Reumert Law Firm and Van Lanschot Kempen Investment Banking.

Background information

The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. The Group’s AAA rating allows it to borrow at favourable conditions on the global markets, benefiting its clients within the European Union and beyond. The Group has the highest ESG standards and a tier one capital ratio of 32%.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, 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 InvestEUFund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.

The Health Emergency Preparedness and Response Authority (HERA)is a European Commission Directorate-General created in September 2021. Its mission is to prevent, detect and rapidly respond to health emergencies, in particular by ensuring the development, production, procurement and distribution of essential medical countermeasures to fill any potential gaps in availability and accessibility. HERA is a key pillar of the European Health Union and fills a gap in the EU’s health emergency response and preparedness architecture.

HERA Invest is a €110 million top-up to the InvestEU programme, funded by the EU4Health programme. It is implemented by the EIB and supports projects that focus on pathogens with pandemic potential, chemical, biological, radiological, nuclear threats, and antimicrobial resistance. Together with HERA, the EIB assesses whether an operation meets HERA Invest’s criteria. The loan granted to SNIPR Biome falls under the “antimicrobial resistance” priority.

SNIPR Biome is a Danish clinical-stage biotech company pioneering the development of precision medicines using CRISPR technology for microbial gene therapy. The company is pioneering a novel use of CRISPR-Cas technology to better treat and prevent human diseases through precision killing of bacteria or gene modification. SNIPR Biome was the first company to orally dose humans with a CRISPR therapeutic and the first company to have been granted US and European patents for the use of CRISPR for targeting microbiomes. SNIPR technology is used in collaborations with Novo Nordisk A/S, CARB-X, the Bill & Melinda Gates Foundation, SPRIN-D, and MD Anderson Cancer Center.

SNIPR Biome is backed by a strong syndicate of investors including Lundbeckfonden Biocapital, EQT, North East Family Office and Wellington Partners.