Contacts

MedinCell receives 7,5 M€ from the European Bank of Investment (EIB)

July 23, 2019

• Payment of the second tranche of 7.5 M€ in line with expectations
• Strengthened financial visibility of the Company
• 5 M€ drawable under conditions from the EIB loan


The EIB lent MedinCell with 20 M€ in three tranches. The first was paid in March 2018. The conditions for the second one of 7.5 M€ were met. The third tranche of 5.0 M€ is still available under conditions.

Strengthened financial visibility
As a reminder, MedinCell had as of March 31, 2019:
• 21.3 M€ in cash and cash equivalents + 0.7 M€ in short-term investments
• 3.9 M€ in non-current financial assets
To which are added:
• 7,5 M€ from the second tranche received today
• 5 M€ drawable under conditions from the EIB loan
• revenues from existing partnerships and the Research Tax Credit
These amounts are to be put into perspective with the cash consumption related to the activity which as a reminder was 15.9 M€ for the 2018/2019 financial year.

Session en français

Rendez-vous le lundi 14 novembre à 18h00 (CET) pour une vidéoconférence dédiée aux récentes avancées des produits de notre portfeuille clinique

English session

On Monday 14, November at 6.00 pm (CET) participate in our videoconference dedicated to the latest news regarding our clinical and regulatory products

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