The European Investment Bank signed a €20 million venture debt facility with Tensive, the Milan-based medtech, on 5 August 2026, after approval on 16 June.
The InvestEU-backed proceeds will fund research, development and capital expenditure to advance Tensive's regenerative implants for reconstructive surgery after breast cancer. The financing will also extend the company's cash runway and help attract further private capital. The wider project cost is about €44 million.
The EIB said Tensive currently lacks access to commercial debt and that InvestEU backing allows it to provide long-term venture debt it could not extend to the same extent without the programme. The operation contributes to InvestEU's research, development and innovation objective.
Tensive, a clinical-stage company founded in 2012 and led by Chief Executive Sanjay Kakkar, develops regenerative implants for breast reconstruction and expects first regulatory approvals in early 2027.
Tensive has raised €23 million to date, including about €5 million in grants. On 30 January 2025, it closed a €14 million Series A led by Panakès Partners, with the EIC Fund, Cassa Depositi e Prestiti, Recomec and other institutional and angel investors. Kakkar joined as Chief Executive when the round closed.
The Series A was intended to fund completion of a pivotal clinical trial. In December 2022, Tensive was awarded EIC Accelerator blended finance comprising a €2.5 million grant and a further €6 million of equity from the EIC Fund, alongside earlier EU SME Instrument and Lombardy research grants.
In July 2026, Tensive reported 12-month pivotal follow-up data and said first EU regulatory approval is anticipated in early 2027.
EIB venture debt is typically €10 million to €50 million and is available to European SMEs and mid-caps that have already raised equity from professional investors. The EIB describes the product as complementing venture capital, with a more limited effect on ownership than a new share issue. InvestEU uses a €26.2 billion budget guarantee, with the EIB Group as the main implementing partner.