The European Investment Bank today (November 29th) agreed a EUR 30 million facility to support investment by Dublin based biotech company, Nuritas, to further increase and accelerate development of artificial intelligence and DNA analysis to improve global healthcare. Representing the first direct EIB financing for an Irish biotech company, the new support will allow the company to access tranched financing as required to scale up the development of the rapidly growing company. Future investment by the company backed by the EIB will scale up development of new therapeutics in areas of interest including anti-aging, anti-inflammatory and diabetes treatment. "Nuritas has already demonstrated through PeptAIde, their first product launch this year, how the discovery of healthcare products can be rapidly accelerated using artificial intelligence. During due diligence over recent months the EIB has been impressed by their innovative use of technology and the number of global deals already achieved and they now become the first Irish biotech firm to benefit from the EIB's dedicated European Growth Finance Facility. Our goal is to find innovative and fast-growing companies so that we ensure they can benefit from access to long-term financing under the new initiative and Nuritas fits this bill perfectly. We look forward to working with other innovative and fast growing companies to ensure they can benefit from access to long-term financing under the new initiative. This new EUR 30 million support from the European Investment Bank will enable Nuritas to expand and commercialise even faster." said Andrew McDowell, European Investment Bank Vice President.