Scope Fluidics with participation in the EIB European Venture Debt Summit

Scope Fluidics S.A. (WSE: SCP) – a Venture Studio biotechnology company included in the sWIG80 index – was invited by the European Investment Bank to the Luxembourg for European Venture Debt Summit event.

• The conference was attended by around 200 people, mainly CEOs and CFOs of companies that are beneficiaries of Venture Debt tools under the organizer’s support, representatives of investment funds, advisors and representatives of the European Commission and EIB.
• The agenda of the full-day event included numerous meetings focusing on the development of the European venture capital market and panel discussions. One of the elements of the program was a speech by EIB Vice President Ambroise Fayolle
• Scope Fluidics obtained a loan of up to €10 million from the EIB in the second half of 2020 under the Venture Debt facility. The financing was used primarily for the development of PCR|ONE technology, which later became the subject of the largest deal in the history of Poland’s life-science and deep-tech sectors.

Szymon Ruta, Vice President and CFO of Scope Fluidics said:

– We have repeatedly shown that we can effectively use various financial instruments and create new standards in this regard. A dozen years ago, at the very beginning of our path, we gained the support of the Total FIZ fund, which was absolutely opportunistic at the time. Later we expanded the circle of shareholders by becoming a public company. We have also benefited from non-dilutive sources of funding over the years – in addition to prestigious grants, there was a venture debt facility from the EIB, which we were one of the first Polish companies to use. The success of the record-setting sale of Polish deeptech would not have been possible without the combination of all these sources. However, it was access to financing from the EIB that proved crucial at the decisive moment.

– We are pleased to participate in events such as the EIB European Venture Debt Summit. It is a great opportunity for us to deepen and establish new relationships within the European ecosystem of broad-based innovation and EU institutions. It’s also a chance to participate in discussions dedicated to the development of this entire environment. As Scope Fluidics, we have already proven that we can bring value to the European economy, and we are committed to strengthening our position in this regard.

In September 2020, during the coronavirus pandemic, Scope Fluidics received up to €10 million in debt financing under a joint initiative of the European Commission and the European Investment Bank Group – the InnovFin Infectious Diseases Finance Facility (IDFF), designed to help innovative players in the development of vaccines, drugs, medical and diagnostic devices and research infrastructure in the fight against infectious diseases. In 2020, the facility became a vehicle for the European Union to support the global fight against the COVID-19 pandemic.

The funds from the EIB were used to develop PCR|ONE technology, among other things. In August 2022, Scope Fluidics sold 100% of Curiosity Diagnostics, which was developing PCR|ONE, a breakthrough system for rapid PCR analysis in a point-of-care format, to US industry giant Bio-Rad Laboratories. The upfront payment was valued at $100 million.