- Jefferies, one of the world’s leading international
full-service investment banking and capital markets firms has
initiated coverage of Medincell
- Jefferies analysts initiated coverage with a "Buy" rating and
price target of €12, marking a +74% potential increase from
yesterday market close
- They wrote: “We view Medincell as the best positioned long
acting injectables players, underpinned by best-in-class drug
delivery technology, which should see it outperform competitors in
growing blockbuster indications.”
Regulatory News:
MedinCell (Paris:MEDCL)
Christophe Douat, CEO of MedinCell, said: “Coverage
initiation by Jefferies confirms the growing interest in MedinCell
by leading players in the US biopharmaceutical sector. It is part
of our strategy to increase Medincell’s visibility in the US.”
The initiation of coverage by Jefferies occurs as MedinCell has
recently reached commercial stage with the market launch by Teva of
UZEDY™ for the treatment of schizophrenia. UZEDY is the first
innovative product based on MedinCell’s long-acting injectable
(LAI) BEPO® technology approved by US FDA.
In parallel, MedinCell is developing a portfolio of innovative
treatments also using the BEPO technology. This notably includes
the two candidate treatments currently in clinical Phase 3 with top
line results expected in 2024:
- mdc-TJK: Potentially, the first long-acting injectable
of olanzapine with a favorable safety profile that could enable a
large adoption for treatment of patients with more severe forms of
schizophrenia
- mdc-CWM: An innovative sustained-release formulation of
a non-steroidal anti-inflammatory drug celecoxib aiming at
facilitating patient recovery after total knee replacement and
decreasing the need for potentially addictive opioids
Other programs are currently at preclinical and formulation
stages, some as part of the internal program development strategy,
others within the framework of partnerships.
About MedinCell
MedinCell is a clinical- and commercial-stage biopharmaceutical
company developing long-acting injectable drugs in many therapeutic
areas. Our 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 already known and used active ingredients
with our 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™).
We collaborate with leading pharmaceutical companies and
foundations to improve global health through new treatment options.
Based in Montpellier, MedinCell currently employs more than 140
people representing more than 25 different nationalities.
UZEDY™ and SteadyTeq™ are trademarks of Teva Pharmaceuticals
www.medincell.com
About analysts’ coverage
All reports on MedinCell written by analysts represent their own
opinions and not necessarily those of MedinCell. MedinCell is not
responsible for the content, accuracy, or timing of analyst
reports. By referring to these analysts or publishing their
opinions, MedinCell does not in any way commit itself to the
validity of such information, conclusions, or recommendations. This
information does not represent an offer to sell or subscribe, or
the solicitation of an order to buy or subscribe for securities in
France, Europe, the US, or any other country.
As a reminder, Jefferies acted as Joint Global Coordinator and
Joint Bookrunner with Bryan Garnier for the € 25M private placement
completed in May 2023.
This press release contains forward-looking statements,
including statements regarding 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 partnering
arrangements; (vi) its future capital needs, capital expenditure
plans and ability to obtain funding; and (vii) prospective
financial matters regarding our business. Although the Company
believes that its expectations are based on reasonable assumptions,
any statements other than statements of historical facts that may
be contained in this press release relating to future events are
forward-looking statements and subject to change without notice,
factors beyond the Company's control and the Company's financial
capabilities.
These statements may include, but are not limited to, any
statement beginning with, followed by or including words or phrases
such as "objective," "believe," "anticipate," “expect”, "foresee,"
"aim," "intend," "may," "anticipate," "estimate," "plan,"
"project," "will," "may," "probably," “potential”, "should,"
"could" and other words and phrases of the same meaning or used in
negative form. Forward-looking statements are subject to inherent
risks and uncertainties beyond the Company's control that may, if
any, cause actual results, performance, or achievements to differ
materially from those anticipated or expressed explicitly or
implicitly by such forward-looking statements. A list and
description of these
risks, contingencies and uncertainties can be found in the
documents filed by the Company with the Autorité des Marchés
Financiers (the "AMF") pursuant to its regulatory obligations,
including the Company's registration document, registered with the
AMF on September 4, 2018, under number I. 18-062 (the "Registration
Document"), as well as in the documents and reports to be published
subsequently by the Company. In particular, readers' attention is
drawn to the section entitled "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 does not undertake any obligation to publicly
update these forward-looking statements or to update the reasons
why actual results could differ materially from those anticipated
by the forward-looking statements, including in the event that new
information becomes available. The Company's update of one or more
forward-looking statements does not imply that the Company will
make any further 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 information purposes only. The
information contained herein does not constitute an offer to sell
or a solicitation of an offer to buy or subscribe for the Company's
shares in any jurisdiction, in particular in France. Similarly,
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 the 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 subject to legal restrictions in certain
jurisdictions. Persons who come to know about this press release
are encouraged to inquire about, and required to comply with, these
restrictions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240104348398/en/
David Heuzé - Head of Communications
david.heuze@medincell.com / +33 (0)6 83 25 21 86
Media Relations Nicolas Mérigeau
medincell@newcap.eu / +33 (0)1 44 71 94 94
Investor Relations France Louis-Victor
Delouvrier/Alban Dufumier medincell@newcap.eu / +33 (0)1 44 71
94 94
Head of US Financial Strategy & IR Grace Kim
grace.kim@medincell.com / +1 (646) 991-4023
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