EIB award underscores the need for innovation in HIV management

Being chosen by the European Investment Bank (EIB) as recipient of their Infectious Diseases Innovation Loan for 2015 is a great honor for Cavidi, but it is an even bigger win for people infected with HIV around the world.

InnovFin is EIB’s program to support innovation in the EU. The program has an allocation for innovations in infectious diseases that provides investment in the development of innovative vaccines, drugs, medical and diagnostic devices, or novel research infrastructures for infectious diseases. This part of the InnovFin project targets project developers like Cavidi, who are in the field of infectious diseases and have successfully completed the pre-clinical stage and begun early stage clinical development and now require clinical validation or are ready for later stage clinical trials. To qualify, projects need to exhibit a proven public health impact and market potential and enjoy the commitment of promoters to substantially co-fund the project.

Cavidi will be the first recipient of the InnovFin Infectious Diseases Innovation Loan. This is as important a moment for the EIB as it for Cavidi. Jonathan Taylor, EIB Vice-President with responsibility for lending in Sweden, stated: “We are pleased to be partnering with Cavidi in this breakthrough operation as it will enable the EU bank to support future technologies whose concrete applications will effectively tackle the HIV pandemic. With this first InnovFin Infectious Diseases Loan, we confirm our commitment to providing easier access to finance.” Carlos Moedas, European Commissioner for Research, Science, and Innovation said, “This first loan under InnovFin Infectious Diseases will not only help speed up the development of an innovative device for monitoring HIV treatment for the benefit of patients, but will also support the growth of an innovative family-owned European business.”

Competition and vetting for these loans is intense. In addition to providing significant innovation and proven success in the area of infectious diseases, the recipient must clearly contribute to EU policy goals and meet the EIB’s high standards economically, financially, technically, and environmentally. Cavidi competed against many other deserving projects for the EIB’s consideration. This level of scrutiny and vetting against Europe’s top innovators in infectious diseases provides even greater validity to the project and the impact it will have on the treatment of HIV.

While the €10 million loan is only part of the investment required to get Ziva™ to market, it will go far to provide access to viral load monitoring earlier for millions living with HIV.