EU bank finances IBA with $71M for R&D projects

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The European Investment Bank (EIB) has signed a contract to finance up to EUR50 million ($71 million U.S) to Ion Beam Applications (IBA) for its current research and development (R &D) projects in the fields of cancer diagnosis and therapy.

This funding will support the IBA’s R &D program between 2010 and 2013 and will cover areas such as:

• Molecular imaging: New development for radioisotopes and marked molecules;
• Particle therapy: New equipment and software to treat cancer; and
• Dosimetry: New radiation measurement devices and software for diagnostic and therapy.

The company explained that most of the activities financed by the loan will be carried out at its R &D centers at the headquarters in Louvain-la-Neuve, Belgium, as well as in Fleurus, Belgium, in Schwarzenbruck, Germany, in Saclay, France and, to a lesser extent, in Dulles, Va.

The total amount considered is EUR117.9 million ($168 million U.S) to be financed up to EUR50 million through the EIB/European Commission’s Risk-Sharing Finance Facility, according to IBA.