MedinCell Announces Investment by CM-CIC Innovation
MedinCell Announces Investment by CM-CIC Innovation
Paris, October 19, 2017. MedinCell, a pharmaceutical company developing a new generation of long-acting injectable medicines using its BEPO technology, announced that CM-CIC Innovation has made an investment into the Company. The Montpellier, France based company was previously 100% owned by its founders and employees. As part of the investment deal, CM-CIC Innovation is joining the company’s Supervisory Board.
MedinCell has developed and patented BEPO technology, which makes it possible to control and guarantee regular delivery of the optimal dosage of a medicine for a period of several days, weeks or months, by means of a simple depot injection. The depot is completely bio-resorbable and is formed immediately after a subcutaneous or localised injection. A real alternative to conventional methods of taking medicines, BEPO technology offers a number of advantages to address major healthcare challenges around the world: improved tolerance and patient compliance, more effective treatments, as well as rapid development and low production costs.
“We welcome CM-CIC as an investor and a Supervisory Board Member. Initial clinical trials of BEPO products have confirmed the power of our technology as well as the quality of our team and our business model. With this capital, we can accelerate the development of our pipeline with the goal of providing patients access to truly effective treatments for indications where we can make a real change,” stated Christophe Douat, Chairman of the Management Board at MedinCell. “We are grateful to have found a financial partner who shares our vision and values.”
“We were attracted by MedinCell’s vision and values, in particular its aim of making treatments accessible to everyone and providing a response to the issue of non-compliance of treatments by patients. The team has demonstrated its ability to successfully advance the company’s development by means of its partner network, which includes major international pharmaceuticals groups,” commented Karine Lignel, Chief Executive Officer of CM-CIC Innovation. “We are delighted to be working with the team in the next steps of this venture.”
Oaklins France and Kepler Corporate Finance were lead advisors for the transaction.
About CM-CIC Innovation
CM-CIC Innovation is a subsidiary of CM-CIC Investissement, a member of the Crédit Mutuel CM11 group that specialises in venture capital investments. Its aim is to invest in companies that are developing promising technologies. CM-CIC Innovation selects companies with strong growth potential in dynamic sectors like information technology, telecoms, electronics, life sciences, new materials and environmental technology. CM-CIC Innovation’s policy is to provide long-term support to innovative start-ups by investing in their equity, in order to maximise their chances of success.
