Dechert Advises MedinCell S.A. on its €15.6 Million Capital Increase

Dechert advised MedinCell, a technology-based pharmaceutical company specializing in the development of injectable therapeutic products, listed on Euronext Paris, in connection with its €15.6 million capital increase.

The private placement of new shares to qualified French and international investors through an accelerated bookbuild was significantly larger than the €11 million initially envisaged. Bryan, Garnier & Co Limited and ODDO BHF SCA acted as global coordinators and associate bookrunners.

The proceeds of the capital increase will reinforce the funds already available to the company to finance its R&D activities, in particular the expansion and development of its portfolio of long-acting injectable therapies.The funds will also contribute to the initial costs of the mdc-TTG program, which aims to develop a long-acting injectable formulation of Ivermectin as a preventive treatment for people not infected with COVID-19.

The investment will also facilitate the start of new programs in various therapeutic areas, in line with the company's strategy, as well as contributing to the financing of the company's working capital requirements. 

The Dechert team advising MedinCell included:

• in Paris: François Hellot, partner, and Benhouda Derradji, associate;
• in London: Patrick Lyons, partner, and Amy Rees, associate.