MedinCell publishes its first-half 2020/2021 financial results (April – September 2020): operating expenses and portfolio development in line with expectations

December 9, 2020

Main developments concerning the product portfolio during the first half:
• mdc-IRM program (schizophrenia)
o Phase 3 Pivotal efficacy study: recruitment completed in May and study completed in November (post-closing)
o Study Readout anticipated in the first quarter of 2021
o Validation of manufacturing and transport procedures for the polymers on an industrial scale
• mdc-CWM program (post-operative pain):
o Phase 2 study completed in April
o Meeting between AIC, MedinCell and the FDA in August 2020 to discuss the results of Phase 2 and the next steps in clinical and regulatory development
o Large-scale clinical studies expected to start in the first half of 2021

Other programs

o Progress in the regulatory development of two other antipsychotics: mdc-TJK in Phase 1 and mdc-ANG. in preclinical development
o mdc-TTG program (Covid-19): Launch in September of an initial clinical trial to validate the safety of continuous administration of Ivermectin in oral form and selection of a 1-month active injectable formulation to launch preclinical activities in December (post-closing)
o Final formulations selected or on the verge of being selected for several programs opening the way for preclinical development: mdc-GRT (organ transplantation), mdc-NVA (pain), and mdc-KPT (animal health- pain)

Stronger consolidated financial position at September 30, 2020 compared to the beginning of the semester:
• 27.5 M€ in cash
• 3.8 M€ in risk-free financial assets (0.7 M€ current + 3.1 M€ non-current) including 1.5 M€ provided as collateral for a bank loan
• Post-closing: 1.8 M€ in additional non-dilutive financing (PGE) received from BPI (October) and receipt of 5 M€ representing the final tranche of the EIB loan (November)

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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