Context
MedinCell is a clinical-stage pharmaceutical company that develops a portfolio of long-acting injectable products in various therapeutic areas by combining its proprietary BEPO® technology with active ingredients that are already known and marketed.
BEPO® technology makes it possible to control the delivery of a drug at the optimal therapeutic level through the subcutaneous or local injection of a fully bioresorbable deposit.
MedinCell will have two major milestones in H2 2020 from two strong partnerships: Phase 3 interim results with Teva (schizophrenia) and the start of Phase 3 with AiC (pain).
This capital raise will be used to finance formulation research activities and preclinical and clinical phases in pain, anaesthesia and Covid-19 (Ivermectin), and accelerate the development of its technology platform to other applications including health and organ transplantation).
About MedinCell
MedinCell is a clinical-stage pharmaceutical company that develops a portfolio of long-acting injectable products in various therapeutic areas by combining its proprietary BEPO® technology with active ingredients already known and marketed. Through the controlled and extended release of the active pharmaceutical ingredient, MedinCell makes medical treatments more efficient, both through improved compliance with medical prescriptions and by significantly reducing the quantity of medication required as part of a one-off or chronic treatment. The BEPO® technology makes it possible to control and guarantee the regular delivery of a drug at the optimal therapeutic dose for several days, weeks or months, starting from the subcutaneous or local injection of a simple deposit of a few millimeters that is fully bioresorbable. Based in Montpellier, France, MedinCell currently employs more than 130 people from over 25 different nationalities.
Bryan, Garnier & Co acts as Joint Global Coordinator and Joint Bookrunner on MedinCell’s Follow-on with top-tier European biotech specialists and institutional investors
Bryan, Garnier & Co acted as Joint Global Coordinator and Joint Bookrunner on MedinCell’s EUR15.6m Follow-on, having played the same role in its 2018 Euronext IPO.
MedinCell raised EUR15.6m from Tier-1 European biotech specialists and institutional generalists, anchored by an ESG investor.
Strong demand made it possible to upsize the transaction by 42% vs. the base deal. This is the only deal with comparable upsizing for a listed biotech in Paris since 2015.
The transaction was priced at EUR7.75 a share, representing a discount of 8.4% to the last market closing price (June 15, 2020). This represents the third tightest discount YTD for a listed biotech in Paris.
Solid aftermarket performance on D+1: +6.6% vs. offer price.
This is another landmark transaction for Bryan, Garnier & Co’s Equity Capital Markets and Healthcare practices, which demonstrates its unique distribution capacity in challenging market conditions.
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