Financial markets operator Euronext NV (EPA:ENX) has just announced that it has welcomed MedinCell, a pharmaceutical technology company that develops injectable drug delivery solutions, to listing in compartment C of Euronext Paris.
Based in Jacou, near Montpellier in southern France, MedinCell is dedicated to achieving significant gains in the efficiency of drug therapies. The two most advanced products in its pipeline, designed to treat schizophrenia and post-operative orthopedic pain, respectively, are now in Phase III and Phase II clinical trials in the United States. Its seven other products treat a range of conditions including depression, chronic pain and contraception—all areas where MedinCell’s patented BEPO® technology is likely to change conditions fundamentally.
MedinCell (ticker code: MEDCL) was listed on 8 October 2018 through the admission to trading of 19,878,372 shares making up its capital, including 4,137,931 new shares issued through a Global Offering [The Global Offering was made up of a Public Offering that included an Open Price Offer (OPO) in France and a Global Placement with institutional investors in France and other countries.] before potential exercise of the over-allotment option and 1,258,841 shares issued in exchange for convertible bonds.
The offering price was set at €7.25 per share. Market capitalisation on the day of listing was around €144 million, and the operation raised a total of €30 million.
At the listing ceremony, Christophe Douat, Chairman of MedinCell’s Executive Board, said:
Today’s listing is a milestone for MedinCell. It confirms the expertise and tenacity of the entire MedinCell team, and illustrates the strength of our approach, in which all of our staff members are either already shareholders or will have that opportunity. This is one key to our success—a success that includes two products already in Phase II and III clinical trials in the United States, with ten more in the pipeline. The funds we’ve raised will enable us to expand our portfolio and increase our impact on global health.
I would like to take this opportunity to thank all our team members who have been working hard to this end, as well as the new shareholders who have joined us and who share our goals, including our vision of harnessing pharmaceuticals to serve human well-being, and our commitment to a better world.