Regulatory News:
MedinCell (Paris:MEDCL):
“I am stepping down from the Supervisory Board as I have
reached the mandated age limit. More importantly, I do so with
utmost confidence in our current management team's ability to move
the company forward, strengthen our partnerships, and drive growth.
The organization is in capable hands for the exciting journey
ahead. In this next stage for me, I look forward to focusing my
efforts, passionately, on my core background of pioneering
innovation at the technology and science research level. I will
also work on promoting an engaged and active shareholders community
who can support MedinCell in shaping the future of the company,”
said Anh Nguyen.
Anh Nguyen is a founder of MedinCell. His departure, which took
effect on February 15, 2024, comes as part of his remarkable
endeavors as Chairman, since 2013, to install a dynamic governance,
a reliable succession, and a strong management team for the
company, prior to reaching the statutory age limit this year.
Anh Nguyen, a molecular biologist and a business executive by
background started his successful career of a biotech serial
entrepreneur in California, USA, where he co-founded and advanced
successful companies to public listing on NASDAQ. Anh Nguyen
championed organizational approaches of employee ownership of
companies and moved these concepts beyond the USA to Europe with
the co-founding of MedinCell.
While Anh Nguyen was CEO then Chairman of MedinCell, the company
advanced its proprietary technology of Controlled Release BEPO from
early stages of chemistry research to being approved by the FDA, as
the core technology of a major Long-Acting Injectable
anti-psychotic therapy. The technology is also present, through
several key partnerships, in clinical stages of development across
multiple disease indications.
His guidance at MedinCell also included active selection and
development of candidate therapies based on their potential of
global access and significant social impact. Current key
collaborations with major philanthropies-NGOs illustrate this
approach.
On the organizational side, Anh Nguyen combined actions on
science and leadership installed the strategic, governance and
organizational foundations for the continued future growth for
MedinCell, to become a key global actor in the Long-Acting therapy
field.
The Board has initiated the process of seeking a new Chairman
while Sabri Markabi, as current Vice-Chairman, is appointed as
Chairman on an interim basis. He will coordinate the continuation
of the Board activities and the pursuit of its existing objectives,
in collaboration with the management team.
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 active pharmaceutical 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
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/20240218789093/en/
David Heuzé - Head of Communications
david.heuze@medincell.com / +33 (0)6 83 25 21 86
Head of US Financial Strategy & IR Grace Kim
grace.kim@medincell.com / +1 (646) 991-4023
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
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