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EIB and MedinCell Sign a New €40 Million Loan Agreement to Support Development of Innovative Treatments

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EIB and MedinCell Sign a New €40 Million Loan Agreement to Support Development of Innovative Treatments | PTF

European Investment Bank (EIB), backed by the Investment Plan for Europe, and pharmaceutical company MedinCell, have signed a new loan that is intended to support the development of the company’s portfolio of innovative treatments. MedinCell’s portfolio is already composed of several Long-Active injectable products at pre-clinical and clinical stage. The first product using MedinCell’s BEPO® technology is expected to reach the U.S. market in the first half of 2023.

With this new loan granted by the EIB after a previous one of 20 million euros in 2018, also backed by the Investment Plan for Europe, MedinCell will continue its mission to address major global healthcare challenges with breakthrough treatments. MedinCell’s long-acting injectable technology, BEPO® can be used to develop innovative therapeutic options in many therapeutic areas such as schizophrenia, contraception, malaria, pain management, etc.

BEPO® enables control and guarantee the delivery at optimal therapeutic dosage of a treatment for several days, weeks or months via a simple injection that creates a fully bioresorbable depot. BEPO® is designed to potentially provide more efficient treatments, improve compliance by patients, enhance accessibility to treatment and reduce environmental footprint of treatments.

Christophe Douat, CEO of MedinCell, said: “This new loan with the EIB gives MedinCell the means to continue innovate and develop long-acting treatments in many therapeutics areas that can be game changing for patients and caregivers. We are proud to collaborate once again with the EIB, a strategic partner that supports our company model of humanist pharma and our mission to improve health of patients worldwide.”

Ambroise Fayolle, vice-president of the European Investment Bank added: “Supporting innovation in health to improve the well-being of patients is a top priority for EIB. This second loan to Medincell reflects our strong commitment to innovative companies in their own sector. As the EU bank, it is important to give them the means to develop technologies that will help, in the case of Medincell, to cure people that need treatments in many therapeutic areas. This loan will contribute to improve accessibility, care and quality of life for patients in Europe.”

Commissioner for the Economy, Paolo Gentiloni, said: “We are determined to improve the quality of life for people in the EU by investing in healthcare innovation. This investment, guaranteed by the Investment Plan for Europe, showcases this and contributes to boosting Europe’s position at the cutting edge of healthcare research and development.”

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