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 subcutaneous or local injection of a fully bioresorbable deposit.
MedinCell has strong partnerships with Teva (schizophrenia), AiC (pain), and the Bill & Melinda Gates Foundation (contraception).
Its most advanced schizophrenia product, with Teva, went through phase 3 in November 2020.
• This capital raise follows positive phase 3 results announced with Teva in January 2021.
The proceeds will be used to finance formulation/R&D activities, and preclinical/clinical studies in the following therapeutic areas: organ transplantation, pain treatment and preventive treatment against Covid-19 (Ivermectin). They will also be used to accelerate the development of MedinCell’s technological platform for other applications, for example, animal health, pulmonary and cardiovascular diseases.
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, particularly thanks to improved compliance, i.e. compliance with medical prescriptions, and to a significant reduction in 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, fully bioresorbable. Based in Montpellier, MedinCell currently employs more than 130 people representing over 25 different nationalities.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Joint Global Coordinator and Joint Bookrunner to MedinCell on its EUR 30 million Follow-on Offering
Bryan, Garnier & Co acted as Joint Global Coordinator and Joint Bookrunner on MedinCell’s Follow-on Offering.
MedinCell raised EUR 30m with 72% allocated to five leading anchor investors, followed by long-only Biotech specialists as well as ESG specialists. The book had extensive international demand, resulting in 66% allocated outside of France.
• Deal oversubscribed 2.5x.
• Transaction priced at EUR 12.33 a share, representing a discount of 8% to the last closing price.
• Tightest discount YTD for a listed pharma in Paris.
• Positive aftermarket perf. in D+1: +4% vs. offer price.
This second capital raise for a biotech in 2021 and first on Euronext Paris, advised by Bryan, Garnier & Co, marks another landmark transaction for Bryan, Garnier & Co’s Healthcare and Equity Capital Markets franchises and the beginning of another strong year.
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