Bryan, Garnier & Co acts as Joint Global Coordinator and Joint Bookrunner for MedinCell’s €30 million Euronext Paris IPO

Bryan, Garnier & Co acts as Joint Global Coordinator and Joint Bookrunner for MedinCell’s €30 million Euronext Paris IPO

News published on October Monday 8, 2018
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Context

MedinCell is a phase III pharma company developing a portfolio of long-acting injectable products in various therapeutic areas.

Its BEPO® technology is a polymer-based formulation ensuring controlled release of an API over a targeted period of days, weeks or months.

Potential to create a global schizophrenia franchise in partnership with TEVA : currently conducting phase III trial for a 2-month risperidone, the most advanced drug candidate.

First non-opioid intra articular pain and inflammation treatment post orthopedic surgery in phase II.

Ongoing R&D programs in: contraception with the Bill & Melinda Gates Foundation and in CNS with multiple indications.

The Company’s objective is to file at least one new IND every year.

IPO proceeds will be used to accelerate pipeline expansion and to further invest in the proprietary technology platform.

Transaction highlights

Bryan, Garnier & Co acted as Joint Global Coordinator and Joint Bookrunner.

EUR 30 million raised in gross proceeds (EUR 32.5 million including greenshoe).

Strong international demand generated mainly in the US.

Solid book relying on long only healthcare specialist and generalist investors.

TEVA’s EUR 6 million participation to the IPO demonstrates its strong confidence in schizophrenia products being developed, the company’s pipeline and capacity to execute.

MedinCell is entering the very small circle of listed companies on Euronext Paris with a partnered phase III product.

Market capitalization at IPO: EUR 144 million.

This transaction marks Bryan, Garnier & Co’s 17th Healthcare transaction in 2018 and 11th fund-raising for the sector in the public capital markets.

About Medincell

MedinCell is a pharmaceutical company that develops a portfolio of long-acting injectable products in various therapeutic areas by combining its proprietary BEPO® technology with active ingredients already known and marketed. Through the controlled and extended release of the active pharmaceutical ingredient, MedinCell makes medical treatments more efficient, particularly thanks to improved adherence, i.e. adherence with medical prescriptions, and to a significant reduction in the quantity of medication required as part of a one-off or chronic treatment. The BEPO® technology allows to control and guarantee the regular delivery of a drug at the optimal therapeutic dose for several days, weeks or months starting from the subcutaneous or local injection of a simple depot of a few millimeters, fully bioresorbable. Based in Montpellier, MedinCell currently employs approximately 100 people representing over 25 different nationalities.

(www.medincell.com)

About Bryan, Garnier & Co

Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Healthcare, Consumer and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Zurich and New York. The firm is a member of the London Stock Exchange and Euronext.

(www.bryangarnier.com)

Deal team

Hervé Ronin
Partner
Healthcare Investment Banking
T: +33 1 70 36 57 22

Romain Ellul
Vice President
Healthcare Investment Banking
T: +33 1 56 68 75 51

Cosme Rosellini
Vice President
Equity Capital Markets
T: +33 1 56 68 75 28

Rémi Negre
Analyst
Healthcare Investment Banking
T: +33 1 70 36 57 48


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