MedinCell Announces Great Success with Capital Raise of 15.6M€ & Use of Proceeds Includes Ivermectin Prophylactic for COVID-19

Jun 16, 2020 | COVID-19, Investor Watch, Ivermectin, Medincell, News

MedinCell Announces Great Success with Capital Raise of 15.6M€ & Use of Proceeds Includes Ivermectin Prophylactic for COVID-19

France-based Medincell recently experienced strong investor demand leading to a capital raise of 15.6m€ ($17.6m). The funding will be deployed for research and development (R&D) activities, including the expansion and advancement of its long-acting injectable treatment portfolio, as well as the company’s program targeting a long-acting injectable ivermectin prophylactic.

MarketScreener recently highlighted some interesting news from MedinCell.

Who is Medincell?

MedinCell is a clinical stage pharmaceutical company that develops a portfolio of long-acting injectable products in various therapeutic areas by combining its proprietary BEPO® technology with active ingredients already known and marketed. The company is based in Montpellier, France, and employees about 130 people.  The company recently conducted a fundraising. The company will use some of the proceeds to prepare an Ivermectin treatment for COVID-19.

What is the product’s core value proposition?

Through a controlled and extended release of active pharmaceutical ingredient, MedinCell makes medical treatments more efficient, particularly thanks to improved compliance, i.e. compliance with medical prescriptions, and to a significant reduction in the quantity of medication required as part of a one-off or chronic treatment.

Hence, the BEPO® technology enables better control and guarantees the regular delivery of a drug at the optimal 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.

What was the company’s initial interest in Ivermectin?

MedinCell was the first biotech company to declare its interest in a commercial ivermectin treatment for COVID-19. TrialSite News reported back in April that the French biotech was interested in initiating studies after its review of the Monash University data in Australia. The company had generated some data revealing that long-acting formulations of Ivermectin could be designed with differing doses using its BEPO® technology.

Back in April, the company also disclosed the need for clinical trials to “confirm the action of Ivermectin on the COVID-19 virus, and the potential effectiveness of long-acting injectable on its prevention and therefore breaking the chain of transmission.” The goal would be to leverage the BEPO® technology to offer a long-acting injectable Ivermectin,” hence offering “a rapidly deployable and affordable solution for the global pandemic.”

What is the company’s latest effort?

The company will use these proceeds to help finance various R&D efforts excluding partnerships; in particular those for which the selection of a formulation candidate, prior to regulatory development (preclinical/clinical), is expected in 2020:

  • mdc-GRT: subcutaneous treatment for the prevention of graft rejection in solid organ transplant patients;
  • mdc-NVA: perineural treatment for the management of post-operative episodic pain or the treatment of chronic post-traumatic peripheral neuropathic pain;
  • mdc-KPT: subcutaneous treatment for the treatment of pain in animal health care.

Additionally, the funds contribute to the financing of initial costs of the mdc-TTG program, which aims to develop a long-acting injectable formulation of Ivermectin as a preventive treatment for people not infected with COVID-19.

Call to Action: TrialSite News pays particular attention to this company’s Ivermectin strategy moving forward.

1 Comment

  1. Selim Nazar

    Excelente, es una magnífica idea que podría salvar muchas vidas en esta pandemia, ojalá esté disponible pronto