The European Investment Bank (EIB) has granted a EUR 7.5 million loan to Diadem, a company developing the first blood-based prognostic test for the early prediction of Alzheimer’s disease (AD). The loan granted under the Pan-European Guarantee Fund’s venture debt programme, an integral part of the EUR 540 billion EU aid package agreed in 2020 to counter the economic crisis caused by the coronavirus pandemic, is intended to support the development and commercialisation of Diadem’s prognostic blood test for the early detection of AD. Headquartered near Milan, Italy, Diadem was founded in 2012 as a spin-off of the University of Brescia, with the support of the Italian Ministry of Education, Universities and Research. The test is a non-invasive biomarker blood test that can identify with a high level of accuracy whether individuals over the age of 50 with signs of cognitive impairment will or will not progress to AD up to six years before definitive symptoms are apparent.
EIB Vice-President Gelsomina Vigliotti said: “Diagnostics for neurodegenerative conditions such as Alzheimer’s disease have not been able to identify patients early enough in the disease process to allow interventions to slow or stop disease progression. With this investment, the EIB is confirming its commitment to research and to companies such as Diadem that are at the forefront of biotechnology innovation. We expect this EIB funding to contribute to a revolution in Alzheimer's disease diagnostics.” The EIB is the long-term lending institution of the European Union owned by the Member States. It provides long-term funding for sound investments to contribute to the EU's strategic objectives.
The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2021, the EIB Group provided more than EUR 36 billion in financing for projects in Italy. The European Guarantee Fund (EGF) was created by the EIB Group with contributions from Italy and other EU Member States to protect businesses that are struggling amid the crisis caused by COVID-19.
