SDS Optic signed a venture debt financing agreement with the European Investment Bank in the maximum amount of EUR 10 million, the company announced in a press release.

The purpose of the agreement with EIB is to support the continuation of research and development work aimed at intensifying the development of the inPROBE technological platform, including the use of the platform in new applications.

"The Issuer's Management Board plans to allocate most of the potential funds to cover costs related to preclinical research of new inPROBE applications, clinical trials of new inPROBE applications, necessary activities to obtain regulatory approvals, internal research and development related to the development and development of new applications, costs related to the protection of intellectual property and investment costs related to the purchase of modern research equipment for the R&D center operated by the Company, including further equipment for the newly established and developed semi-industrial pilot production of photonic parts of inPROBE biosensors," the press release reads.

"Part of the funds will also be allocated to the company's current operations, ongoing clinical trials and commercialization processes," it added.