Medincell Raises 48 Million Euros at 20.35 EUR per Share
The company announced that American and European healthcare-focused investors such as Perceptive Advisors, Kurma Growth Opportunities Fund, Affinity Asset Advisors, and Polar Capital participated in the transaction alongside the company's main historical shareholders.
The funds raised are intended to increase partnership opportunities by generating high-value data through the launch of new programs, maximize the value of future partnerships, and strengthen the proprietary long-acting injectable technology platform. The net proceeds may also be allocated to general needs, including financing working capital requirements and operating expenses, as well as strengthening the balance sheet.
For Christophe Douat, CEO of Medincell: "The funds raised strengthen our financial position and allow us to confidently accelerate the implementation of our long-term growth strategy."
Specifically, this 48 million euro placement was carried out through the issuance, without shareholders' preferential subscription rights, of 2,370,000 new shares. The issue price of the new shares was set at 20.35 euros per share, representing a 10% discount compared to the closing price on March 5.
MedinCell S.A. is a pharmaceutical company that develops a portfolio of long-acting injectable products in various therapeutic areas, combining its proprietary BEPO® technology with active ingredients already known and marketed. The BEPO® technology allows the regular delivery of a drug at optimal therapeutic dose for several days, weeks or months from the subcutaneous or local injection of a simple deposit of a few millimeters, fully bioresorbable. The first treatment based on BEPO® technology, intended for the treatment of schizophrenia, was approved by the FDA in April 2023, and is now distributed in the United States by Teva under the name UZEDY® (BEPO® technology is licensed to Teva under the name SteadyTeqTM).
As of March 31, 2025, the company had a portfolio of 2 products in phase III clinical development and 3 products in preclinical development.
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