MEDINCELL 2 (EGFF)

The project will support the promoter's research, development and innovation (RDI) activities. Medincell is a biopharmaceutical company offering innovative technologies in drug delivery. Its core business consists in designing long acting formulations of drugs, allowing only one administration of active pharmaceutical ingredients with a therapeutic effect, ranging from a couple of days to many months. The supported RDI nvestments include, among others: i) the screening of pharmaceutical ingredient to be combined with Medincell's proprietary drug delivery system ii) new products formulation iii) the pre-clinical, regulatory and manufacturing development costs of all portfolio candidates, with a focus on early stage programmes to be partnered at clinical stage

The aim is to contribute to expand the proprietary pipeline of the products under development, which will constitute the backbone of Medincell's growth in the future. The project will be coordinated from the company's headquarters located in Montpellier (France).

A direct financing to Medincell would address a market gap in terms of non-dilutive growth capital for an EU-based, innovative, fast growing SME with a high-risk credit profile. The business plan of the Company largely depends on its capacity to progress its RDI programmes. Given the limited financing amounts and/or tenors offered by other lenders, the acceleration of the investment plan in RDI would not happen as foreseen without the support of such EIB financing. The financing would support the EU costs for the research and development (R&D) activities required to advance the Company's pipeline of proprietary products under development thereby maximizing their chance of finding the best partner with the best possible deal terms. The Project would support the Company's social engagement which is reflected both in the technology and pipeline as well as in the people behind the success. More precisely, Long Acting Injectables (LAIs) have the potential to positively influence both compliance and access to healthcare, two major global health challenges, key issues in globally but with increased impacted in developing world. The project would contribute to the achievement of important Suistainable Development Goals (SDG) such as SDG3 Good Health and Wellbeing as well as SGD Decent Work and Economic Growth. 

The promoter's investments concern RDI activities that are expected to be carried out in existing facilities already authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under Directive 2014/52/EU amending 2011/92/EU. Full environmental details verified during appraisal.

Medincell is a private company (listed), not operating in the utilities sector and does not have the status of a contracting authority; thus the project is not covered by EU directives on procurement. However, the promoter's procurement procedures are expected to be in line with the EIB guidelines for private sector projects. The EIB's services verified details during the project due diligence.

Medincell is a French biopharmaceutical company with an in-depth expertise in the formulation of long acting injectable version of existing pharmaceutical products. It has built a strong pipeline of long acting injectable products for the treatment of several neurological diseases and infectious diseases.