Medincell raises around 43 million euros in financing

(CercleFinance.com) - Medincell announced on Thursday that it had completed a capital increase of around 43 million euros, which will enable the pharmaceutical company to pursue its development.


The offering, for a total amount of 42.9 million euros, was carried out via the placement, without preferential subscription rights, of 3.3 million new shares.

The issue price was set at 13 euros per share, representing a discount of over 7% to the closing price of the share on the Paris Bourse yesterday.

The new shares represent 11.1% of the company's capital, on a non-diluted basis, before completion of the offer, and 10% of its capital, on a non-diluted basis, after completion of the offer.

As an indication, a shareholder holding 1% of the company's share capital prior to the launch of the offer will now hold a 0.90% stake.

On the Paris Bourse, Medincell shares were down by more than 2% late Thursday morning.

Medincell, which develops long-acting injectable drugs, has seen a first product based on its technology approved in 2023 by the US FDA.

This treatment for schizophrenia is currently distributed in the USA by Teva under the name Uzedy.

The group has set itself the target of rapidly crossing the €100 million revenue threshold thanks to the royalties and milestone payments it receives, and of achieving operating profitability by its 2026/2027 financial year.

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