Ashurst advises MedinCell S.A. on its c. €48 million private placement

Ashurst advised MedinCell S.A. (Euronext Paris: MEDCL), a biopharmaceutical company specialising in the development of long-acting injectable (LAI) treatments, on its c. €48 million private placement to international institutional investors, led by Jefferies, Evercore, Leerink Partners and Oddo BHF as joint bookrunners.

MedinCell is a clinical- and commercial-stage biopharmaceutical licensing company developing a portfolio of long-acting injectable treatments across multiple therapeutic areas. The proceeds of the placement will be used by the company to expand partnering opportunities by generating high-value data through the initiation of additional programmes, to maximise the value of future collaborations by optimising economics and prioritising downstream royalty participation, and to strengthen its proprietary LAI technology platform through targeted innovation, including the advancement of next-generation LAI technologies that may broaden the scope, differentiation and applications of the platform, as well as for general corporate purposes.

The private placement was carried out through the issuance of 2,370,000 new ordinary shares, without shareholders' preferential subscription rights, at a price of €20.35 per share. The transaction attracted participation from leading international healthcare specialist investors, including Perceptive Advisors, Kurma Growth Opportunities Fund, Affinity Asset Advisors and Polar Capital, alongside the company's main historical shareholders. The new shares were admitted to trading on the Euronext Paris regulated market.

The Ashurst team was led by François Hellot (partner), assisted by Alexandra Ber (associate) in Paris and Rodrigo Romero Hidalgo (senior associate) in London, in Corporate Transactions.