MedinCell and its partner TEVA announced that US FDA approuved UZEDY™, a long-acting injectable medication for treating schizophrenia. MedinCell also raised 25 million euros.
Michaël Delafosse, Mayor of Montpellier and President of Montpellier Méditerranée Métropole, adds :
“MedinCell’s amazing success is the result of hard work by a talented team of multi-disciplinary people, with expert and visionary leaders seeking to improve health for people around the world. This international recognition is well deserved ! It also contributes directly to our health sovereignty, highlighting the Montpellier Métropole area as a fertile ground for innovation – our Montpellier BIC incubator assisted MedinCell in its progression – and supporting qualified long-term job opportunities. It perfectly embodies MedVallée’s objectives. Furthermore, I am proud to praise the company’s visionary governance, whose values and mission make MedinCell a model impact company !”
Carole Delga, President of the Occitanie / Pyrénées - Méditerranée Region :
“I would like to congratulate MedinCell for their recognition by the American Food and Drug Agency, with its approval of UZEDY, a medical drug that treats schizophrenia using an innovative technology developed in Montpellier. UZEDY offers patients a more effective, comfortable, and affordable form of treatment. Thanks to MedinCell, the excellence of our biotech sector and the complementary nature of its various players is further recognized internationally. In a context shaped by France’s need for independence in biomedical production, the Occitanie Region is fully committed to meeting the challenges of sovereignty and accelerating the sector’s development. That is the true purpose of our investment in MedVallée, as a means of providing concrete answers to the major health issues facing us today, which current events continually bring to the forefront with increasing intensity. The Occitanie Region will continue to be involved by supporting growth-generating projects throughout the territory, such as MedinCell, which received 1.5 M€ in regional aid in 2019 to help fund its growth, including staff increases, the acquisition of cutting-edge equipment, and the expansion of their laboratory based in Jacou.”
A few days after FDA approval, MedinCell raises 25 million eurosOn May 13th, Medincell anounced the success of the Global Offering of approximately 25 million euros aimed at institutional investors via a Private Placement through an accelerated book-building process, as well as retail investors via PrimaryBid platform only in France.
Funds raised will enable MedinCell to continue portfolio development and strengthen R&D activities.
About MedinCellMedinCell is an innovative pharmaceutical company with a portfolio of long-acting injectable products in various therapeutic areas, covering the entire value chain from development to market.
MedinCell’s proprietary technology BEPO® (licensed to Teva under the name SteadyTeq™) makes it possible to control the delivery of a drug at a therapeutic dose for several days, weeks or months starting from the subcutaneous or local injection of a simple deposit of a few millimeters, fully bioresorbable.
MedinCell collaborates with tier one pharmaceutical companies and foundations to improve Global Health through new therapeutic options. Based in Montpellier, MedinCell currently employs more than 140 people representing over 25 different nationalities.
UZEDY™ is a registered trademark of Teva Pharmaceuticals.