MedinCell Announces Fiscal Year Consolidated Results

MONTPELLIER, France–(BUSINESS WIRE)–Strong consolidated financial position as at March 31, 2020 and strengthened since year-end

  • 12.4 M€ in cash and cash equivalents
  • 3.6 M€ of risk-free financial assets (0.4 M€ current + 3.3 M€ non-current)
  • 10.9 M€ of additional non-dilutive financing (PGE) –Post-closing
  • 3.1 M€ of CIR collected in May 2020 – Post closing
  • 5.0 M€ to be received from the EIB under conditions

Consolidated financial results:

  • Income from ordinary activities: 6.O M€ (+48% compared to the previous year)
  • Cash consumption linked to the activity: 12.5 M€ (in line with expectations)

Evolution of the product portfolio in line with expectations

  • Progress in clinical development: Phase 3 of mdc-IRM (antipsychotic), led and funded by Teva Pharmaceuticals and mdc-CWM (post-operative pain and inflammation), funded by AIC
  • A third product in clinical development: start of Phase 1 of the mdc-TJK (antipsychotic) product led and financed by Teva Pharmaceuticals
  • Two new products in regulatory preclinical studies: mdc-ANG (antipsychotic) and mdc-WWM (contraception), the latter benefiting from a new four-year 19 M$ grant from the Bill & Melinda Gates Foundation
  • Three programs close to formulation selection that paves the way for preclinical development: mdc-GRT (organ transplantation), mdc-NVA (pain) and mdc-KPT (animal health)
  • New program launches:

    • mdc-STM: formulation of a 3-month active injectable of Ivermectin to neutralize the vector of malaria transmission, the program received a 6.4 M$ grant over three years from Unitaid
    • mdc-STG: new internal program in formulation
    • Feasibility study of an injectable long-acting HIV prevention treatment (PrEP) funded by the Gates Foundation

Significant post-closing events related to the product portfolio:

  • Recruitment completed for the mdc-IRM Phase 3 clinical study, interim analysis expected before the end of 2020
  • Completion of the mdc-CWM Phase 2 clinical study, Phase 3 is scheduled to begin by the end of 2020
  • Launch of a research program for Covid-19 prevention (prophylaxis)

Access the complete Press release

Contacts

MedinCell
David Heuzé
Communication leader
david.heuze@medincell.com
+33 (0)6 83 25 21 86

NewCap
Louis-Victor Delouvrier
Relations investisseurs
medincell@newcap.eu
+33 (0)1 44 71 98 53

NewCap
Nicolas Merigeau
Relations médias
medincell@newcap.eu
+33 (0)1 44 71 94 98