Healthcare

Bryan, Garnier & Co acts as Joint Global Coordinator & Joint Bookrunner on Medincell’s EUR 25 million Follow-on Offering

MedinCell is an innovative pharmaceutical company developing a portfolio of long-acting injectable products in various therapeutic areas by combining its proprietary BEPO technology (licensed to Teva as SteadyTeq™) with already known and marketed active ingredients.

On April 28, 2023, Teva and MedinCell announced FDA Approval of UZEDY™ (risperidone) Extended-Release Injectable Suspension, a Long-Acting Subcutaneous Atypical Antipsychotic Injection, for the Treatment of Schizophrenia in Adults. The first FDA approval for a French biotech within 6 years.

The capital raise aims to finance preclinical/clinical studies, formulation activities of new products, research & development of new technologies and investments to expand and improve the laboratory in Montpellier.

Acting as Joint Global Coordinator & Joint Bookrunner, Bryan, Garnier & Co delivered a EUR 25m follow-on offering for Medincell, representing 15% of issued capital

– Achieving a limited 8.7% discount to last close, despite challenging and volatile market conditions

– Assembling a variety of institutional investors around strong historical shareholders anchoring, also including participation from retail via PrimaryBid

This is Medincell’s third consecutive capital raise in a row with Bryan, Garnier & Co since IPO and the 3rd biotech capital raise on Euronext Paris 2023YTD, marking another landmark transaction for Bryan, Garnier & Co’s Healthcare and Equity Capital Markets franchises

"We are pleased with the success of this EUR 25m Offering on the back of our groundbreaking FDA approval, to further support the development of our clinical pipeline and strengthen our R&D activities. Our commitment to improving global patient health is poised to make an even greater impact. We are grateful to Bryan Garnier’s team, who have played a crucial role in facilitating this transaction despite challenging market conditions and continue supporting us since IPO."

— Christophe Douat - CEO of Medincell

MedinCell is an innovative pharmaceutical company developing a portfolio of long-acting injectable products in various therapeutic areas – from development to commercialization – by combining its proprietary BEPO technology (licensed to Teva as SteadyTeq™) with already known and marketed active ingredients. Through the controlled and sustained release of the active pharmaceutical ingredient, MedinCell makes medical treatments more effective, including improved compliance and reduced drug requirements. MedinCell’s proprietary BEPO technology® enables the controlled delivery of a therapeutic dose of medication for several days, weeks or months from a simple subcutaneous or local injection of a few millimeters in size, entirely bioresorbable. MedinCell collaborates with leading pharmaceutical companies and foundations to improve global health through new therapeutic options. Headquartered in Montpellier, France, MedinCell currently employs over 140 people representing more than 25 different nationalities.