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France : EIB and MedinCell sign a new €40 million loan agreement to support development of innovative treatments

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JACOU, France–()–Regulatory news:

The new loan signed between the European Investment Bank (EIB), supported by the Investment Plan for Europe, and the pharmaceutical company MedinCell (Paris:MEDCL) is intended to support the development of the company’s portfolio of innovative treatments. MedinCell’s portfolio already consists of several Long-Active injectable products in preclinical and clinical stages. A first product using BEPO from MedinCell® the technology is expected to reach the US market in the first half of 2023.

With this new loan granted by the EIB after a previous one of 20 million euros in 2018, also supported by the Investment Plan for Europe, MedinCell will continue its mission to address major global health challenges with innovative treatments. MedinCell’s long-acting injectable technology, BEPO® can be used to develop innovative therapeutic options in many therapeutic areas such as schizophrenia, contraception, malaria, pain management, etc.

BEPO extension® allows you to control and ensure the administration of a treatment at the optimal therapeutic dosage for several days, weeks or months through a simple injection that creates a completely bioabsorbable deposit. BEPO extension® it is designed to potentially provide more efficient treatments, improve patient compliance, improve accessibility to treatment, and reduce the environmental impact of treatments.

Christophe Douat, CEO of MedinCell, said: “This new loan with the EIB gives MedinCell the means to continue to innovate and develop long-acting treatments in many therapeutic areas that can change the game for patients and healthcare professionals. We are proud to collaborate once again with the EIB, a strategic partner who supports our humanist pharmaceutical business model and our mission to improve patient health around the world.”

Ambroise Fayolle, Vice-President of the European Investment Bank, added: “Supporting innovation in the healthcare sector to improve patient well-being is a top priority for the EIB. This second loan to Medincell reflects our strong commitment to innovative companies in your sector. As an EU bank, it is important to give them the means to develop technologies that will help, in Medincell’s case, a treat people who need treatment in many therapeutic areas. This loan will help improve accessibility, care and quality of life for patients in Europe”.

The Commissioner for the Economy, Paolo Gentiloni, declared: “We are determined to improve the quality of life for people in the EU by investing in healthcare innovation. This investment, guaranteed by the Investment Plan for Europe, demonstrates this and helps to strengthen Europe’s position at the forefront of health research and development.

About EIB

The EIB is the long-term finance institution of the European Union (EU) and its shareholders are the 27 EU Member States. Its mission is to contribute to the integration, balanced development and economic and social cohesion of EU Member States. It borrows large volumes of funds from the capital markets and lends them on very favorable terms to support projects that contribute to the achievement of EU objectives. The EIB is working to put the EU at the forefront of the next wave of innovation, particularly in the health sector. In response to the COVID-19 health crisis, the EIB has set aside €6 billion for investments in the health sector to support medical infrastructure, additional research activities or other financing related to vaccines and treatments. As a European climate bank, the EIB is a leading provider of funds in the green transition towards a more sustainable and low-carbon growth model.

About MedinCell

MedinCell is a pre-marketing pharmaceutical company developing a portfolio of long-acting injectable products in various therapeutic areas by combining its proprietary BEPO® technology with already known and marketed active ingredients. Through the controlled and prolonged release of the active pharmaceutical ingredient, MedinCell makes medical treatments more effective, in particular thanks to better compliance, i.e. compliance with medical prescriptions, and a significant reduction in the amount of drugs needed as part of a one-time treatment or chronic treatment. The BEPO® the technology makes it possible to control and guarantee the regular administration of a drug at the optimal therapeutic dose for several days, weeks or months starting from the subcutaneous or local injection of a simple deposit of a few millimeters, completely bioabsorbable. MedinCell partners with world-class pharmaceutical companies and foundations to improve global health through new therapeutic options. Based in Montpellier, MedinCell currently employs more than 150 people representing over 30 different nationalities. www.medincell.com

About the European Fund for Strategic Investments (EFSI)

The European Fund for Strategic Investments (EFSI) is the central pillar of the Investment Plan for Europe. It provides first-loss guarantees, enabling the EIB to invest in larger and often riskier projects. The projects and agreements approved for financing under the EFSI are expected to mobilize €524.3 billion of investment and support over 1.4 million small and medium-sized enterprises across the European Union. Building on the successful model of the Investment Plan for Europe, the new InvestEU program aims to give a further boost to investment, innovation and job creation in Europe in the period 2021-27. With the aim of triggering a new wave – over €372 billion – of investments using a guarantee from the EU budget.

This press release contains forward-looking statements, including statements regarding the Company’s expectations for (i) the timing, progress and outcome of its clinical trials; (ii) the clinical benefits and competitive positioning of its product candidates; (iii) its ability to obtain regulatory approvals, commence commercial production and achieve market penetration and sales; (iv) its future product portfolio; (v) its future partnership arrangements; (vi) its future capital needs, capital expenditure plans and ability to obtain financing; and (vii) potential financial matters relating to our business. Although the Company believes its expectations are based on reasonable assumptions, any statements other than statements of historical fact that may be contained in this press release relating to future events are forward-looking statements and are subject to change without notice, factors beyond the control of the Company and the financial capabilities of the Company.

These statements may include, but are not limited to, any statement that begins with, followed by, or includes words or phrases such as “aim”, “believe”, “anticipate”, “expect”, “anticipate”, “aim”, ” mean”, “may”, “anticipate”, “estimate”, “plan”, “plan”, “will”, “may”, “probably”, “potential”, “should”, “might” and other words and sentences with the same meaning or used in a negative form. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could, if any, cause actual results, performance or achievements to differ materially from those anticipated or expressed expressly or implied by such forward-looking statements. A list and description of such risks, contingencies and uncertainties can be found in the documents filed by the Company with the Autorité des Marchés Financiers (the “AMF”) in compliance with its regulatory obligations, including the Company’s registration document, registered with the MFA on 4 September 2018, under number I. 18-062 (the “Registration Document”), as well as in documents and reports that will subsequently be published by the Company. In particular, readers’ attention is drawn to the section “Facteurs de Risques” on page 26 of the Registration Document.

Any forward-looking statements made by or on behalf of the Company speak only as of the date they are made. Except as required by law, the Company undertakes no obligation to publicly update these forward-looking statements or to update reasons why actual results could differ materially from those anticipated by the forward-looking statements, including if new information becomes available. layout. The Company’s update of one or more forward-looking statements does not imply that the Company will make additional updates to such forward-looking statements or other forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

This press release is for informational purposes only. The information contained herein does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any shares of the Company in any jurisdiction, in particular in France. Likewise, this press release does not constitute investment advice and should not be treated as such. It is not related to the investment objectives, financial situation or specific needs of any recipient. It should not deprive recipients of the opportunity to exercise their own judgment. All opinions expressed in this document are subject to change without notice. The distribution of this press release may be restricted by law in some jurisdictions. Persons who become aware of this press release are encouraged to inform themselves about and abide by such restrictions.

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Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

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