Medincell raises €48 million in private placement

Medincell (Euronext Paris: MEDCL) announced it completed a private placement raising €48 million through an offering to international institutional investors, according to a press release from the company.

The French biopharmaceutical company issued 2.37 million new ordinary shares at €20.35 per share, representing a 10% discount to the closing price of €22.64 on March 5, 2026. The new shares represent 6.6% of the company's share capital following the placement.

Healthcare specialist investors including Perceptive Advisors, Kurma Growth Opportunities Fund, Affinity Asset Advisors and Polar Capital participated in the transaction alongside existing shareholders.

The company stated it intends to use the proceeds to expand partnering opportunities by generating data through additional programs, maximize value from future partnerships by optimizing economics and prioritizing royalty participation, and strengthen its proprietary long-acting injectable technology platform through targeted innovation.

The proceeds may also be used for general corporate purposes, including working capital and operating expenses, and to strengthen the company's balance sheet for future strategic initiatives.

"The funds raised strengthen our financial position and enable us to confidently accelerate the execution of our long-term growth strategy," said CEO Christophe Douat.

Settlement and admission to trading on Euronext Paris are expected on March 10, 2026. The company, board members and certain management signed 90-day lock-up agreements in connection with the placement.

Jefferies, Leerink Partners and Evercore ISI served as joint global coordinators and joint bookrunners, with ODDO BHF SCA as joint bookrunner.

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