The European Investment Bank and Orano announced the signing of a €125 million credit line to finance the development of Orano Med and its industrial infrastructure.
The financing will notably support the construction of the Advanced Thorium Extraction Facility in Bessines-sur-Gartempe, France.
Orano Med is a subsidiary of Orano focused on nuclear medicine.
The company develops lead-212-based targeted alpha therapies, a class of cancer treatments designed to target and destroy cancer cells while limiting impact on surrounding healthy tissue.
Orano Med’s clinical pipeline currently includes four programs, run independently or with partners.
The programs are evaluating these treatments across a range of cancer types with significant unmet medical needs.
Orano Med’s partners include Sanofi, Roche, and Swiss biotech Molecular Partners.
The Advanced Thorium Extraction Facility is the world’s first industrial facility dedicated to large-scale production of thorium-228.
Thorium-228 is a precursor of lead-212, a rare radioisotope used in the development of targeted alpha therapies for cancer treatment.
Once operational, the facility will supply Orano Med’s pharmaceutical production sites, known as Alpha Therapy Laboratories.
These ATLabs will produce lead-212 targeted alpha therapies for patients.
The European Investment Bank said the project aligns with European priorities around healthcare, innovation, and industrial sovereignty.
The financing provides long-term funding for the project and underscores its strategic importance at the European level.
This is the second loan agreement signed between the European Investment Bank and Orano in just over a year.
In March 2025, the EIB announced a €400 million loan agreement to finance the expansion of the Georges Besse 2 uranium enrichment plant at Orano’s Tricastin site in France.
Orano is an international operator in nuclear materials focused on addressing energy and health challenges.
The company has 18,500 employees and provides products and services across the nuclear fuel cycle.
Orano Med has lead-212 manufacturing facilities, laboratories, and R&D centers in France and the U.S.
The company is expanding GMP manufacturing capacity for lead-212 radiolabeled pharmaceuticals in North America and Europe.
KEY QUOTES:
“By supporting the development of Orano Med and notably the construction of its industrial infrastructure, the EIB is reaffirming Europe’s commitment to advancing research in healthcare and the development of new cancer therapies, while establishing the industrial capabilities needed to produce these treatments on European territory. Following the financing agreement of the uranium enrichment program concluded last year, this second transaction with the Orano group is also fully in line with the EIB’s priorities: fostering innovation, strengthening the production capacity of strategic European industries, and ensuring the development and manufacturing of cutting-edge technologies in Europe.”
Ambroise Fayolle, Vice-President of the European Investment Bank
“We are very proud to close this loan agreement, which reflects the strategic value of our investment plan dedicated to the development and production of innovative targeted alpha therapies for the treatment of cancer patients. The €125 million EIB financing will contribute to the deployment of our unique industrial platform, with the production of thorium-228, a critical step in the lead-212 therapy supply chain, to be centralized in France.”
Frédéric Desdouits, CEO of Orano Med
