Dusseldorf/Frankfurt—Global law firm Dentons has advised the Israeli biotech company Pluristem on a €50 million loan provided by the European Investment Bank (EIB). The financing is part of a cooperation agreement between the EIB and the Israel Innovation Authority, which aims to strengthen Israeli-EU cooperation in innovative research in the field of biotech, pharmaceutical research and public health.

The venture loan will support research and development of Pluristem in the EU, including an innovative platform for regenerative cell therapy. The company will receive the financing in three tranches, subject to the achievement of pre-agreed clinical regulatory and scaling up milestones. The first tranche will consist of €20 million. 

Pluristem is a leading regenerative medicine company developing novel placenta-based cell therapy product candidates. It is the first Israeli-European company to benefit from a venture loan from the European Fund for Strategic Investments (EFSI). The fund is a joint project of the EIB and the European Commission and provides financing to support innovative companies and future technologies in the EU. Dentons Banking and Finance partners Dr. Axel Schlieter (Düsseldorf) and Dr. Arne Klüwer (Frankfurt) advised Pluristem as venture borrower on the EIB financing. The mandate came about through Berlin-based partner Dirk-Reiner Voss.

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