Healthcare

Bryan, Garnier & Co acts as Joint Global Coordinator and Joint Bookrunner to Medincell, an innovative pharmaceutical company developing a portfolio of long-acting injectable products, on a EUR 42.9m Follow-on Offering

MedinCell is a French biopharmaceutical licensing company focusing on developing long-acting injectable products using its proprietary BEPO® technology and active pharmaceutical ingredient.

The BEPO® technology is a long-acting drug delivery system that enables controlled release over days to months. It reduces dosing frequency, minimizes the risk of missed doses, and enhances patient compliance.

Medincell has the FDA-approved UZEDY® for schizophrenia, launched in 2023 and marketed by Teva, with growing sales. The pipeline includes Olanzapine LAI (Phase 3, filing in H2 2025, launch in 2026) and a post-operative pain treatment (Phase 3, next trial funded by AIC), along with other ongoing developments. The company has established partnerships with pharmaceutical laboratories, with TEVA and AbbVie are developing schizophrenia and LAI franchises, offering significant financial incentives and royalties for MedinCell.

The net proceeds, combined with the Company’s existing funds, will be used to continue funding R&D and pipeline programs, expand BEPO® technology into new molecules and high-value indications, pursue potential in-licensing opportunities, integrate complementary technologies, strengthen the balance sheet, and support general corporate purposes.

Acting as Joint Global Coordinator and Joint Bookrunner, Bryan, Garnier & Co helped deliver a EUR 42.9m Follow-on Offering for Medincell on Euronext Paris.

The offer price was set at €13 per share (7.3% discount to last close), with 3.3m shares issued, representing ~10% of the Company’s post-offering share capital.

The transaction attracted strong interest from new investors, with participation from US and European Healthcare specialist investors Adage Capital Partners LP, Invus, Polar Capital and Wellington Management alongside historical main shareholders Mirova, Syquant Capital and SITAM Belgique (Groupe Dassault).

The offer also included participation from French retail via PrimaryBid, leading to a oversubscribed book.

This transaction marks Bryan, Garnier & Co’s fourth consecutive capital raise for Medincell since IPO, demonstrating once again our unique and continuous support for innovative healthcare companies in Europe.

Medincell is a clinical and commercial stage biopharmaceutical licensing company developing long-acting injectable drugs in many therapeutic areas. Its innovative treatments aim to guarantee compliance with medical prescriptions, to improve the effectiveness and accessibility of medicines, and to reduce their environmental footprint. They combine active pharmaceutical ingredients with their proprietary BEPO®technology which controls the delivery of a drug at a therapeutic level for several days, weeks or months from the subcutaneous or local injection of a simple deposit of a few millimeters, entirely bioresorbable. The first treatment based on BEPO® technology, intended for the treatment of schizophrenia, was approved by the FDA in April 2023, and is now distributed in the United States by Teva under the name UZEDY® (BEPO® technology is licensed to Teva under the name SteadyTeq™). Medincell collaborates with leading pharmaceutical companies and foundations to improve global health through new treatment options.

Based in Montpellier, Medincell is a diverse and growing company with a team of over 140 employees representing more than 25 nationalities. Its shares are listed on Euronext Paris (symbol: MEDCL.PA) and are included in the Euronext SBF 120 Index, reflecting its strong market presence.