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 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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