MedinCell launches a capital increase of a minimum of 11 M€

June 15, 2020

MedinCell (FR0004065605 – MEDCL), a clinical stage pharmaceutical company that develops a portfolio of long-acting injectable products in various therapeutic areas (the “Company”), announces today the launch of a capital increase of a minimum amount of 11 M€ through an offering to qualified investors, both French and international, by way of an accelerated book-building process (the “Offer”).

Bryan, Garnier & Co Limited and ODDO BHF SCA are acting as Global Coordinators and Joint Bookrunners

“We have a strong financial visibility, thanks in particular to the significant loans we have just perceived, 10.9 M€ in the form of a State Guaranteed Loan by the French government and 5.0 M€ from the EIB”, reiterates Jaime Arango, Chief Financial Officer of MedinCell. “This transaction will provide us with additional resources to finance the development of our product portfolio. It also aims at strengthening the Company’s equity in order to improve the balance sheet and increase our financial flexibility. Given the timing constraints, which are incompatible with a public offering, and market conditions, we have favoured a fast transaction, limited to institutional investors, which we consider appropriate and in the interest of all our shareholders. »

The funds raised will reinforce those already available to the Company and will therefore contribute to the financing of its R&D activities, including the expansion and advancement of its long-acting injectable treatment portfolio. All products in development are based on its BEPO® technology combined with already approved and widely used active ingredients.

Session en français

Rendez-vous le mardi 12 septembre à 18h00 pour la diffusion en direct de l'Assemblée Générale mixte

English session

On Tuesday September 12 at 6:00 p.m. live of the Combined General Meeting (in French)

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