The new loan signed between the European Investment Bank (EIB), supported by the Investment Plan for Europe, and the pharmaceutical company MedinCell is intended to support the development of its portfolio of innovative treatments. This is already composed of several long-acting injectable products at the preclinical and clinical stage. A first treatment using MedinCell technology, BEPO®, is expected to hit the US market in the first half of 2023.
Thanks to this new EIB loan which succeeds a previous financing of 20 million euros in 2018, also supported by the Investment Plan for Europe, MedinCell will continue its mission which is to respond to the main challenges of health through innovative treatments. MedinCell’s BEPO® technology, developing long-acting injectable products, can be used to develop new treatments in many therapeutic areas such as schizophrenia, contraception, malaria, pain management, etc.
BEPO® makes it possible to control and guarantee the administration of a treatment at an optimal therapeutic dose for several days, weeks or months thanks to a simple injection which creates a completely bioresorbable deposit. BEPO® is designed to potentially develop more effective treatments, improve patient compliance, make treatments more accessible and reduce their environmental footprint.
Christophe Douat, Chairman of the Executive Board of MedinCell said: “This new EIB loan gives MedinCell the means to continue to innovate and develop long-acting treatments in many therapeutic areas that might be a game-changer for patients and caregivers. . We are proud to once once more collaborate with the EIB, a strategic partner that supports our humanistic pharma business model and our mission to improve the health of patients worldwide. »
Ambroise Fayolle, Vice-President of the European Investment Bank adds: “Supporting innovation in the field of health to improve the well-being of patients is a priority for the EIB. This second loan to MedinCell reflects our strong commitment to innovative companies in their sector of activity. As an EU bank, it is important to empower them to develop technologies that will help, in the case of MedinCell, to care for people who need treatment in many therapeutic areas. This loan will help improve accessibility, care and quality of life for patients in Europe”.
EU Economics Commissioner Paolo Gentiloni comments: “We are committed to improving the quality of life of EU citizens by investing in healthcare innovation. This investment, guaranteed by the Investment Plan for Europe, is proof of this and helps to strengthen Europe’s position at the forefront of research and development. »
Source and visual: Medincell
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