Denmark’s med-tech sector receives a boost as Norlase strengthens its position in the global ophthalmic laser market with EIB venture debt financing.
Norlase will employ the funding for the further development and market access of its innovative portable ophthalmic laser technology.
The EIB’s financing is backed under the European Commission’s InvestEU initiative.
Med-tech company Norlase, a spin-out of the Technical University of Denmark (DTU), has signed a €20 million venture debt financing with the European Investment Bank (EIB). The funding will support the expansion of Norlase’s innovative ophthalmic laser technology, reinforcing Denmark’s position as a hub for world-class med-tech innovation. Ensuring that European companies developing critical technology have the possibility and funding to grow in the EU, is an important building block in European strategic autonomy. The EIB financing is supported by the European Commission’s InvestEU programme.
“Denmark’s efforts in building up its bio- and med-tech ecosystem are definitely paying dividends today. Like other Danish companies we recently financed, Norlase’s technology is top of its class and a real example of excellence in European innovation.” said EIB Vice-President Ioannis Tsakiris. “With the support of InvestEU, the EIB finances projects that advance state-of-the-art medical treatment, and this funding aims to enhance the position of Norlase as a European med-tech champion.”
“As the patient burden continues to grow, the need to accelerate technological innovation in eye care has never been greater. With four product launches in just five years and rapid adoption by the ophthalmic community, Norlase is leading this transformation,” said Norlase CEO and Co-founder Oliver Hvidt. “This funding from the EIB allows us to scale our global presence and push even further beyond the limits of existing technology, solidifying Norlase’s role as a leader in the future of eye care. We’re just getting started.”
The Head of the European Commission Representation to Denmark, Per Haugaard, added: “It’s crucial that European companies develop critical technology and that we secure investments in med-tech companies like Norlase across the continent.”
On a technical level, the financing will support the development and market access of Norlase’s innovative portable ophthalmic lasers, designed to diagnose and treat causes of vision loss and blindness. The project focuses on advancing novel ophthalmic laser technologies and expanding production facilities to support increased demand. The company recently launched its fourth and most innovative device, LYNX, which can reduce treatment time by more than 50%, setting new standards for efficiency, accessibility, and precision in ophthalmic laser treatments.
Background information
The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. The Group’s AAA rating allows it to borrow at favourable conditions on the global markets, benefiting its clients within the European Union and beyond. The Group has the highest ESG standards and a tier one capital ratio of 32%.
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The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient, and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.
Norlase was founded in Denmark to commercialize patented laser technology developed at the Technical University of Denmark (DTU) and its products are now in use in the top ophthalmic hospitals globally.
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