Medincell Raises Capital to Advance Long-Acting Injectable Platform and Expand Partnerships
核心洞察
Medincell (搜索) launched a private placement representing approximately 6% of share capital to international institutional investors through an accelerated book-building process.
The French biopharmaceutical company plans to use proceeds to expand partnering opportunities, maximize collaboration value, and strengthen its proprietary long-acting injectable technology platform.
UZEDY, the company's first commercialized product using BEPO (搜索) technology, generated $191 million in U.S. net sales in 2025 with Teva projecting $250-280 million for 2026.
Medincell (搜索), a French biopharmaceutical company specializing in long-acting injectable treatments, announced the launch of a private placement targeting international institutional investors to fund its strategic growth initiatives. The placement, representing approximately 6% of the company's share capital, will be conducted through an accelerated book-building process.
The Montpellier-based company intends to allocate the net proceeds from the private placement to expand partnering opportunities by generating high-value data through additional programs, maximize the value of future partnerships by optimizing economics and prioritizing downstream royalty participation, and strengthen its proprietary long-acting injectable (LAI) technology platform through targeted innovation.
Strategic Transformation and Commercial Success
CEO Christophe Douat emphasized the company's evolution, stating: "Medincell (搜索) is undergoing a transformation from a technology platform company into a royalty-driven company focused on long-term, scalable value creation. Innovation remains at the core of our strategy as we strengthen our position in the growing field of long-acting injectables, starting in psychiatry - where the value of LAIs is clearly established - and expanding into other therapeutic areas."
The company's flagship product UZEDY, developed using Medincell (搜索)'s proprietary BEPO (搜索) technology and commercialized by Teva Pharmaceuticals, demonstrated strong commercial performance with net sales of $191 million in the United States in 2025, its second full year of commercialization. Teva's initial net sales outlook for UZEDY in 2026 ranges from $250 million to $280 million.
Regulatory Progress and Pipeline Advancement
Medincell (搜索) achieved significant regulatory milestones with its Olanzapine LAI (搜索) program. Following the submission of the New Drug Application (NDA) to the U.S. FDA on December 9, 2025, Teva and Medincell announced on February 20, 2026 that the FDA accepted the application for review. The acceptance typically initiates a standard review period of approximately eight months. The company expects to submit the Olanzapine LAI regulatory file in the European Union during the second quarter of 2026.
The company's pipeline continues to advance across multiple therapeutic areas. The mdc-CWM program for postoperative pain (搜索) progresses through late-stage development, with partner Arthritis Innovation Corporation (AIC) advancing preparations for the second Phase 3 clinical study, with study initiation planned for 2026. Additionally, the regulatory package to initiate human clinical trials for the first program partnered with AbbVie (搜索) is expected to be completed in 2026, enabling AbbVie to advance the candidate into clinical development.
Technology Platform and Market Position
Medincell (搜索)'s innovative treatments combine active pharmaceutical ingredients with proprietary BEPO (搜索)/BEPO Star technologies, enabling controlled drug delivery at therapeutic levels for several days, weeks, or months following a subcutaneous or local injection of a small, fully bioresorbable deposit. The treatments are designed to ensure adherence to medical prescriptions, enhance the effectiveness and accessibility of medicines, and reduce their environmental impact.
Risperidone LAI (搜索) was the first treatment based on BEPO (搜索) technology to receive FDA approval, initially for schizophrenia (搜索) in April 2023, and subsequently for Bipolar I Disorder (搜索) in October 2025. The product is marketed in the United States by Teva under the brand name UZEDY. Medincell (搜索)'s risperidone LAI was also approved for schizophrenia in Canada and South Korea in 2025.
Financial Structure and Timeline
The private placement will be carried out through an offering without shareholders' preferential subscription rights, targeting qualified investors and certain institutional investors. The maximum number of new shares that may be issued is 5,749,064 new shares, representing a maximum of approximately 17% of the capital.
The accelerated book-building process began immediately following the announcement and is expected to close before markets open on March 6, 2026. Settlement-delivery of the new ordinary shares and their admission for trading on the regulated market of Euronext Paris are expected on March 10, 2026.
Jefferies, Leerink Partners, and Evercore ISI are acting as Joint Global Coordinators and Joint Bookrunners, with ODDO BHF SCA serving as Joint Bookrunner on the private placement. The company and members of the Board of Directors and certain management team members have signed 90-day lock-up commitments in connection with the placement.